Massive 6.07 Pound Gold Nugget Found in California

TND Related Coverage:  Video: Godzilla Gold Nugget Found In Northern Californa

TND Guest Contributor:  Nathan McDonald | Sprott Money Blog |

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. I think not!

It never ceases to amaze me, at how so much wealth can be concentrated in such a small space. The fact that this has stood the tests of times prooves to naysayers that gold is indeed money, and will remain so, despite what the Western Central banksters tell you.

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Nathan McDonald writes for Sprott Money Blog, part of Sprott Money Ltd., a leading precious metals dealer selling gold coins, silver coins and bullion bars online and over the phone. As one of Canada’s largest owners of gold and silver bullion, the company’s goal is to facilitate ownership of precious metals no matter how big or small the portfolio.

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