Biggest Gold Nugget from Gold Rush Area Auctioned Off

The biggest gold nugget left over from the area where the California Gold Rush happened. Sold for $460,000 at the auction on March 16, the biggest gold nugget was found a year ago in the Nevada County in California. Holabird-Kagin America conducted the auction for the biggest gold nugget which was given the name “Washington Nugget” since it was found around the renowned mining camp during the gold rush in Washington, California.

The owner of the land discovered the biggest gold nugget in March 2010 in an area that was not mined during the gold rush. This gold nugget weighed 8.2 pounds which had a $137,744 value basing on prevailing gold prices.

The presale-value of the biggest gold nugget was set at $250,000 to $400,000 which was certified by Fred Holabird, a mining geologist. This is the biggest gold nugget which was discovered in the Gold Rush region in California.

The biggest nugget was purchased by Spectrum Numismatics which made the bid in behalf of an unnamed buyer. The identity of the seller was also kept confidential by the auctioneers.  Bidding for the biggest gold nugget lasted for less than five minutes which rose from $250,000 to its selling price of $460,000.

According to Don Kagin, one of the auctioneers, the seller of the biggest gold nugget that he would like to put up the land where he discovered the biggest gold nugget. A number of assayers have indicated that the gold left on the 180-acre land may still have 4,000 ounces left to be discovered.

Aside from the biggest gold nugget, the seller also sold two other smaller nuggets to another buyer.