Newly discovered Butte Nugget, which weighs over six pounds of around 90% pure unearthed gold was purchased last week in a private sale at the San Fransisco Fall Antiques show. The nugget was discovered in California's Butte County in the summer.

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Don Kagin, the broker of the sale, said the nugget made close to the $400,000 asking price. The anonymous buyer is thought to be a historical artifacts collector from the San Fransisco area.

The nugget has a gold content of around 80-90% which gives it a value of $125,000, however this size of the nugget is almost unheard of therefore its rarity resulted in its high price.

Nugget

Senior numismatist for Kagin's Inc David McCarthy said: "Nuggets like this don't come along every day. I really didn't believe that I would see a California nugget of this size unearthed during my lifetime."

The prospector discovered the colossal nugget in July by using a metal detector. The exact location has remained undisclosed to prevent a rush of diggers excavating the site.

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