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General10lb gold nugget

22nd Jan 2011 03:44 UTCJenna Mast

Apparently miners missed it. I doubt it's the "last of it's kind" though.

http://news.yahoo.com/video/us-15749625/giant-gold-nugget-last-of-its-kind-23923812

22nd Jan 2011 09:36 UTCRay Hill Expert

you just got to love those Hucksters....the last and only one....I am guessing that they just do not check out the finds in Australia over the last number of years...they easily eclipse this one...but a fun little vid, thanks Jenna

22nd Jan 2011 10:30 UTCPaul De Bondt Manager

Hi,

They say " the last of it's kind, hmm. Who can say that. The auctionneer probably but everybody with a little sense knows that this is impossible. There are many places on earth where man haven't been yet !

And if they where, everybody does'nt walk around with a metal detector.

I am sure MANY of these can still be found. Except in countries where the metal detector is prohibited, like in Belgium.:S

You have to consider that with the sad recent floodings of many countries lately, huge amounts of sediment have been moved and who knows what this will reveal when the water and dirt is gone. Erosion is also a force that can bring such nuggets up.

Anyway, thanks for sharing this interesting video with us Jenna. Just a pitty I didnt found this one in my garden.

Take care and best regards.

Paul.

22nd Jan 2011 14:38 UTCMatt Neuzil Expert

metal detectors are prohibited in belgium?? thats different. use them at night in the dark so no one can see. >:D<

22nd Jan 2011 15:51 UTCDavid K. Joyce Expert

Anyway, they are also wrong about what it will sell for. $130,000 it the basic intrinsic value if it was sold at current gold spot price. It could sell for up to double that, if not more, depending on the bidding frenzy. Big gold nuggets usually sell for a hefty premium over gold bullion spot price. They are pretty rare.

David K. Joyce

22nd Jan 2011 16:07 UTCLogan Babcock (2)

i want that for a door stop... a very heavy door stop. :P

22nd Jan 2011 16:40 UTCAlex Homenuke 🌟 Expert

That was Fred Holabird (I think) talking. He's a geologist and often has artifacts at the Tucson main show. The nugget is being auctioned by Holabird-Kagin. I won't be bidding....! The largest nugget I ever held and took home from work to photograph was 42 oz. It sold for $50,000 when the contained value was $16,000.

11th Apr 2020 06:28 UTCJoeseph Albert Black

They are confidence scam artist! Fred Holabird is a con man!

22nd Jan 2011 17:19 UTCJoseph Polityka Expert

Hi,

I don't think Holabird was "puffing" up the nugget for my benefit; I couldn't afford it if it was going for $10,000. He was sending out coded messages to those that CAN afford to buy the specimen. People with that kind of money need to be sold, in most cases, on the value of the piece. I think the nugget will go for a lot more than $100,000.

Best,

Joe

11th Apr 2020 06:30 UTCJoeseph Albert Black

Building up the price for his victim like he did with the Washington nugget that turned out to be the Orange Roughy!

22nd Jan 2011 18:13 UTCMichael Croxell

Yes....thats a nice one..I plan on checking out the 51 pound nugget from Australia at the Tucson Main Show this year...Mike

22nd Jan 2011 19:31 UTCJolyon Ralph Founder

With the current high gold price, I'm not sure people will pay very much more than the bullion value for large nuggets - a fall in gold pricing (not out of the question) would devalue the specimen too much.

I'd expect to see a 1.2 to 1.5 times multiplier on the bullion value, certainly not double. But then, as has been said, when bidding gets going who knows where it will end.

Jolyon

22nd Jan 2011 19:39 UTCLyla J. Tracy

Jenna,

That large nugget was found this last spring in an ancient river channel about two miles from my house. As Fred said, the area had been mined in the early days, but obviously some spots were overlooked. Rumor has it that heavy rains caused a bank to collapse exposing virgin material.

I recently had a phone call from a friend (miner) in Florida who had worked for me twenty some odd years ago. He had read the article about the big nugget and was on the verge of packing to return and hunt gold. With the media promotion of that big nugget and the escalating gold price, I suspect we may be over-run with gold seekers this summer. Lyla

8th Feb 2011 18:32 UTCRay Hill Expert

while visiting the L.A. County museum last week Tony Kampf showed me a 109 0z California nugget and promised to bring an even larger California nugget from the Museum to display at the Main Show in Tucson...so if size matters, maybe the auctioneer will win, UNLESS that other nugget from L.A. County museum, weighs in at over 160 oz ,but you will have to visit the show to find out

8th Feb 2011 20:40 UTCLarry Maltby Expert

Here is a 156 ounce gold nugget that was displayed at the 1979 Detroit Show by the Smithsonian. It was found in the Mojave Desert near Red Mountain.

Larry,

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