An anonymous British amateur gold prospector has found what is believed to be Britain’s largest ever gold nugget. Nicknamed the ‘Douglas Nugget’, the gold has been valued at a staggering £50,000 – with experts reckoning it could fetch even more due to its rarity.
The man, a father in his 40s, has been prospecting for over two decades. He was ‘sniping’ (snorkelling) in an unnamed river in Scotland having discovered small gold nuggets in that area previously.
The Douglas Nugget was discovered by the prospector two years ago but, to avoid a gold rush, the finder kept the gold a secret while he and a friend continued to search the area for any additional finds. The second largest nugget was discovered in Cornwall in 1808 weighing 59 grams – 1.89 troy ounces.
Weighing in at 85.7 grams or 2.75 troy ounces, the value of the gold based on the current market spot price is around £2,597 for the nugget. This falls far short of the £50,000+ valuation experts have attributed the item but given that this is British gold – a rarity which always attracts a premium – and the fact that this is the largest nugget found in the British Isles to date, it’s no surprise that such a high price tag has been attached.
The nugget is currently stored in a safety deposit box ahead of sale, but it is not currently clear whether the finder has permission to sell. Legally, all finds of gold and silver belong to the crown, though this is an archaic law and may be too outdated to be acted upon.
