Giant Gold Nugget Found In California In Secret Location, Butte Nugget Worth Up To $450k

A giant gold nugget found in California is going up for sale in San Franciso. Known as the Butte Nugget, it is expected the six pound giant gold nugget will sell for at at least $350,000 when it is sold today, although the auction may go as high as $450,000.

In a related report by The Inquisitr, the popular Gold Rush reality TV show will apparently focus on the health of John Schnabel, according to the spoilers.

The giant gold nugget found in California will be sold Thursday at the San Francisco Fall Antiques Show by Tiburon coin dealer Don Kagin. According to the San Francisco Chronicle, this is the “same dealer who is selling the $10 million worth of gold coins that made such a stir this year after they were found in a couple’s backyard in the Sierra.”

The giant gold nugget found in the Butte County mountains received its nickname, the Butte Nugget, based upon the location. The owner of the giant gold nugget found the large chunk of riches in a secret location and he or she has asked Kagin to keep the location, and the person’s identity, a secret in order to prevent a gold rush from descending upon their find.

“I can’t say the actual location of where this nugget was found, though I had to be blindfolded for the ride out to the location, so I couldn’t say exactly even if I wanted to,” said Kagin’s senior numismatist, David McCarthy. “I’d call the spot rugged.”

Many giant gold nuggets found in the past in the Sierra mountains weighed as much as 54 pounds, but most were melted down or sold as chunks. So, having an intact giant gold nugget is a big deal.

The dealer Kagin is also associated with being hoodwinked by a 8.2 pound giant gold nugget called the “Mother Lode” back in 2011. The owner claimed it was found in the historic gold rush areas but it turned it was really a giant gold nugget found in Australia called the Orange Roughie. Kagin ended up losing money on the deal since he had to buy it back for $460k and then resell it for much less. But Kagin promises the Butte Nugget is different.

“This one’s for real,” Kagin said confidently. “Obviously we don’t want to get hoodwinked again, so we have checked pretty thoroughly into it.”

McCarthy authenticated the giant gold nugget found in Butte County and he says he’s satisifed with the claim based upon before and after photos of the dig site. “I’m convinced this man found what he said he found,” he said.