Explore the discovery of the world‘s largest gold nuggets and their impact on the value of gold today
Tnecropantspan for gold lovers with get rich quick dreams might be willing to try anything from to Bitcoin , but unlike the uncertain world of Internet investing, gold famously holds its value. Unfortunately, just because you find the biggest nugget in history doesn’t mean you’ll be set for life. Even today, if you may not be able to keep your treasure.
The largest gold nugget in the world was found on February 5, 1869, in Victoria, Australia. Two Cornish miners called John Deason and Richard Oats discovered the nugget while prospecting. The nugget was named “Welcome Stranger,” weighed 72 kilograms (158.7 pounds) and was 61 centimeters (24 inches) long.
The two men took the nugget to the town of Dunolly to be weighed at the London Chartered Bank. Unfortunately, the nugget was so large that it didn’t fit on the scale, so it was broken off before it could be photographed. Replicas have been made from drawings made at the time. The two men received just under £10,000, while the nugget was broken up and melted down into gold bars. BBC News suggests that a similar nugget, if found today, would be worth around £2 million.
In other giant nugget news, the Canaa Pepita takes the top spot for being the largest gold nugget still in existence, this sturdy survivor weighs 60 kilograms (134 pounds). It was discovered by Julio de Deus Filho in Brazil in 1983. The nugget is currently on display in the “Gold Room” of the Museu de Valores do Banco Central in Brasília.
The rise of different metal detectors. Although it was also found Down Under, this amazing nugget is now on display in a Las Vegas casino after selling for over $1 million. It is said to contain 875 troy ounces of gold. technology has a role to play in some great gold discoveries and never more so than with the “Hand of Faith.” Found in 1980 by Kevin Hillier, this enormous nugget holds the title of being the largest piece of gold ever found using a
metric systemTroy ounces were used to weigh gold before the introduction of and are still used today to weigh precious metals and gems by those who work in the sector. One troy ounce is equal to 31.1 grams. This is different from the more common avoirdupois system, where 1 ounce usually equals 28.5 grams. Prices of gold sold today may be expressed in prices per ounce, but usually refer to troy ounces.
An earlier version of this article was published in.