Spectrum Numismatics came away with the nugget on Wednesday after a feverish two minutes of bidding at Holabird-Kagin Americana’s Golden West Auction in Sacramento. The company was bidding on behalf of an anonymous private collector.
What may be the biggest California gold nugget in existence was found in the unincorporated town of Washington in Nevada County last March with a metal detector.
The anonymous seller, who was in attendance at the auction, was thrilled with the outcome, said Amy Baker, auction manager of Holabird-Kagin Americana.
Two smaller gold nuggets found at the same site were snapped up by a collector who came up short on the 100-troy-ounce Washington nugget. The smaller nugget sold for $8,850 and the larger for $19,500, both within their estimates. All prices are inclusive of a 15 percent buyer’s premium
At current gold prices, the Washington nugget would have fetched less than $138,000. But auctioneers said that its connection to the 1849 Gold Rush helped boost the value. It carried an estimate of $200,000-$400,000.
Auctioneer Don Kagin said the person who found the nugget is considering selling at auction the 180 acres where it was discovered.
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AP-CS-03-17-11 2035EDT
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