Family Stumbles On Gold Nugget in Australia

Family Stumbles On Gold Nugget in Australia

Everett Millman
By Everett Millman
Published May 18, 2019

Imagine taking a leisurely walk with your spouse and child, perhaps accompanied by the family dog, and out of the blue spotting a shiny hunk of gold along your path.

What a ridiculous daydream, right?

Well, for a select few, precisely this kind of serendipity has happened—in the real, three-dimensional world.

Reminiscent of Saddle Ridge

Australia is certainly known for its long history of rich gold deposits. Somewhat reminiscent of the California Gold Rush in the middle of the 19th century, Western Australia played host to its own gold rush about a generation later.

Like the U.S., this historic period of Australian gold prospecting, with all of the associated risk-taking, speculation, and entrepreneurship therewith, helped shape the country's destiny in the 20th century and beyond.

gold nugget coin

Accordingly, Australia is one of the few places on the planet where you can still by chance discover actual gold nuggets or surface deposits, like those that can be panned from a river.

This year is actually the 150th anniversary of the famous gold nugget named "Welcome Stranger," the largest on record at the time (weighing 66 kilos), that was uncovered in Victoria in 1869.

California has seen a similar modern-day revival of its roots in gold production. About five years ago, a couple was walking their dog in their backyard when the pooch dug up a rusty can from underneath a tree. Inside were dozens of $20 double eagle gold coins from the late-19th and early-20th centuries.

This mind-blowing good fortune made national news at the time, and has since been dubbed the "Saddle Ridge Hoard" of double eagles.

Gold Nugget Gift for Mum

Once again, a gold nugget was found last weekend out in the Land Down Under. Moreover, this was hardly the work of prospectors.

Like the case at Saddle Ridge, a family out for a walk came across the gold by total happenstance. The couple's young daughter was playfully kicking rocks about in the road, when suddenly they realized that one of those rocks was actually a rather large gold nugget.

Quite the Mothers' Day gift! The family that made the lucky discovery hails from Victoria.

The nugget weighs in at 624 grams, or more than half a kilogram. Of course, it's unrefined gold, thus making it far less pure than investment-grade bullion.

Many collectors, however, will pay a premium for a raw gold nugget due in part to the unique or fascinating story behind it.

Estimates of the nugget's value published in the New Zealand Herald placed it around $35,000 (USD) at auction.

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.

Posted In: blog
Everett Millman

Everett Millman

Managing Editor | Analyst, Commodities and Finance

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 Reuters, CNN Business, Bloomberg Radio, TD Ameritrade Network, CoinWeek, and has been referenced by the Washington Post.