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8.2 pound Sierra gold nugget sells for $460,000
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March 19th, 2011 |
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By Kevin Fagan, San Francisco Chronicle
It took only two minutes of feverish bidding at a Sacramento auction Wednesday for a buyer to snatch up the biggest existing gold nugget confirmed to have been dug out of Sierra foothills Forty-Niner country.
Feverish might be an understatement.
The bidder had to cough up $460,000.
The Washington Nugget, which fits in one hand, weighs 8.2 pounds and would have fetched something less than its flat value of $137,744 at current gold prices, considering it has a few rock veins shooting through it.
But this isn’t merely meltdown gold. This chunk has a story.
At 8.2 lbs. it is 98.4 oz. troy oz. or 131.2 oz avpaw. so the price is between $3500.00 and $4675.00 per oz. The price of gold on friday closed at $1420.00 per oz. so whoever bought this has more money than brains.
Lou that’s refined gold this is raw ore! Imperfections are in the gold along with other rock veins.