05.02.

1869: Gold Nugget, Today Valued at $3.7 Million, Found under Tree Root

1869: Gold Nugget, Today Valued at $3.7 Million, Found under Tree Root
Photo Credit To https://en.wikipedia.org/wiki/Welcome_Stranger#/media/File:William_Parker,_Unearthing_the_Welcome_Stranger_Nugget,_H13298_original.jpg

The nugget was discovered by two gold prospectors – John Deason and Richard Oates. Interestingly, they found the massive nugget only tree cm below the surface near the root of a tree.

On this day in Australia the largest alluvial gold nugget in history was found. It was named “Welcome Stranger” and weighed 109.59 kg. It was estimated that it contained 62.02 kg of pure gold, which would, according to today’s prices, be worth around $3,766,950.

The nugget was discovered by two gold prospectors – John Deason and Richard Oates. Interestingly, they found the massive nugget only three centimeters below the surface, near the root of a tree. As for the exact location of their discovery, it was a place Moliagul in the Australian outback, about 200 km northwest from Melbourne.

It is interesting that it was the time of the gold rush in Australia, because of which the continent’s population tripled in only 10 years. The city of Melbourne grew from 10,000 to as many as 123,000 people in the period from 1840 to 1854. The discoverers of the “Welcome Stranger” nugget were paid an estimated 9,381 British pounds. They bought farms and lived not far from the discovery site until their deaths.

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