free gold

treasury gold, including the legal reserve, not restricted to the redemption of gold certificates or other specific uses.
Mining. gold found in loose particles or nuggets, as in a placer mine.

1895–1900 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
free gold
1.  gold, uncombined with other minerals, found in a pure state
2.  (US) the excess of gold held by the Federal Reserve Banks over the legal reserve

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
In general free gold occurs in quartz containing pyrite, arseno-pyrite, and/or
Soon it was evident that free gold along the creeks was not going to be enough.
The reaction of the cyanide solution with the free gold is oxygen-dependent.
The veins contain disseminated pyrite and arsenopyrite with trace amounts of
  silver and free gold.
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