Gilded discoveries: History's biggest gold nuggets

For those harboring dreams of instant wealth, avenues ranging from necropants to Bitcoin may seem tempting. However, unlike the volatile realm of internet investments, gold has long been renowned for its enduring value. Yet, even stumbling upon the biggest nugget in history offers no guarantee of lifelong prosperity. Even in modern times, the pursuit of gold through panning may yield treasure but not necessarily enduring wealth.

The discovery of the world’s largest gold nugget occurred on February 5, 1869, in Victoria, Australia. Two Cornish miners, John Deason and Richard Oats, stumbled upon the nugget while prospecting. Dubbed the "Welcome Stranger," this colossal find tipped the scales at 72 kilograms (158.7 lbs) and stretched 61 centimeters (24 inches) in length.

Transporting their monumental discovery to the town of Dunolly for weighing at the London Chartered Bank, the miners encountered a logistical challenge. The nugget was too massive to fit on the scale and had to be fragmented before being weighed, leaving no opportunity for a photograph. Replicas were subsequently crafted based on contemporaneous drawings. The miners received just under £10,000 for their find, while the nugget was melted down into gold bullion. According to BBC News, a similar nugget discovered today would command a value of around £2 million.

In another noteworthy nugget tale, the Pepita Canaa claims the title of the largest golden nugget still in existence. Discovered by Julio de Deus Filho in Brazil in 1983, this hefty specimen weighs in at 60 kilograms (134 pounds) and is currently showcased in the “Gold Room'' of the Museu de Valores do Banco Central in Brasília.

The advent of advanced technology has played a pivotal role in some significant gold discoveries, exemplified by the “Hand of Faith.” Unearthed in 1980 by Kevin Hillier, this colossal nugget holds the distinction of being the largest ever found using a metal detector. Despite its Australian origin, this extraordinary find now finds itself on display at a Las Vegas casino after fetching a price exceeding $1 million. It is reputed to contain 875 troy ounces of gold.

Before the metric system's introduction, troy ounces were the standard unit for weighing gold and other precious metals and gems, a tradition that persists in certain circles today. One troy ounce equates to 31.1 grams, differing from the more conventional avoirdupois system, where 1 ounce typically equals 28.5 grams. Although contemporary gold prices are often quoted per ounce, they typically refer to troy ounces.