Six- Pound Gold Nugget Discovered in Northern California Sells for - $400,000
SAN FRANCISCO (AP) — One of the largest gold nuggets in modern times pulled from Northern California's historic Gold Country has sold to a secret buyer.
The San Francisco Chronicle reported Saturday (http://bit.ly/1snahAB ) that even the sales price of the so-called Butte Nugget will remain a mystery at the buyer's request.
But Don Kagin, the San Francisco-area coin dealer who brokered the deal, said that the sale price for the nugget weighing slightly more than 6 pounds wasn't far off from the asking price of about $400,000.
A gold hunter in July found the nugget in the mountains of Butte County; it went up for sale Thursday with the deal finalized on Friday.
The man who found the nugget also asked Kagin to keep his name and the location of the discovery a secret.
The Silver Bug: Spirits of the 19th century California gold rush were revived yesterday, when dealer Don Kagin announced the upcoming sale of a massive gold nugget.
The gold nugget weighing in at a whopping 6.07 pounds, or 75 troy ounces, will be unveiled next Thursday at the San Francisco Fall Antiques Show.
The finder, who wishes to remain anonymous, and for good reason, states that he found the gold nugget on public land, in the Butte county mountains and is believed to be the largest gold nugget found in decades.
The beauty of this real chunk of wealth is stunning in its own right, but its nominal value in fiat is estimated to be $350,000.
ChicoER news reports on how the gold nugget was discovered:
Van Camp said Mr. Smith had been using a metal detector to search on the day he discovered the monster, and had found a few small nuggets.
Then his detector came back with an extremely strong signal.
Mr. Smith told him his first thought was that there was “a big piece of trash” in the ground, possibly a piece of pipe or a horseshoe.
He was fearful that trash would mask the signal of surrounding nuggets, so he decided to dig it out.
About 12 inches down in the soil, he found the nugget.
Perhaps if the FED was the one’s who did the final digging, they would of agreed with “Mr. Smith’s” first assessment, that this gold nugget was in fact a piece of trash, or as they like to call it, a barbarous relic.