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An Unexpected $98 Million Treasure

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An Unexpected $98 Million Treasure

Sometimes, you never know how valuable something is until a crisis hits.

Nonetheless, the story of a Filipino fisherman who found an incredibly valuable treasure—and had no idea it was worth anything—still boggles the mind.

The World's Largest Good Luck Charm

A decade ago, a man in the Philippines (who has chosen to remain anonymous) was fishing off of Palawan Island when he decided to anchor his boat during a storm. However, the anchor hit a rock or a shell of some sort, so he swam down to try and remove whatever was in the way. That's when he encountered a massive pearl that could only have come from an equally humongous clam shell.

Without really understanding what it was, he decided to the bring the giant gem home with him. He reportedly stowed it underneath his bed as a good luck charm, never alerting anyone or considering its potential value. It was not until a house fire forced him to leave his dwelling that he finally showed the remarkable piece to a tourism officer.

 

The pearl (shown above) weighs in at a massive 77 pounds (almost 35 kilograms). This is five times as large as the previous world record for a pearl, the "Pearl of Allah" (alternately known as the "Pearl of Lao Tzu"), which was also discovered in the Palawan Sea. At various times, the 14-pound pearl has been valued in the tens of millions of dollars. Both are considered "non-nacreous" pearls, lacking the iridescent appearance of smaller spherical pearls.

While gemologists are authenticating and studying the gigantic pearl, there's has been plenty of speculation as to its value. While the Daily Star in the U.K. touts £76 million (about $98 million) as the estimated value, it all depends upon what an interested buyer is willing to pay for it.

 

The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product.

About the Author

Everett Millman

Everett Millman

Analyst, Commodities and Finance
Managing Editor

Everett has been the head content writer and market analyst at Gainesville Coins since 2013. He has a background in History and is deeply interested in how gold and silver have historically fit into the financial system.

In addition to blogging, Everett's work has been featured in CoinWeek, Advisor Perspectives, Wealth Management, Activist Post, and has been referenced by the Washington Post.

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