A giant gold piece called the "Butte Nugget", which was dug in California and went for sale early this week in San Francisco was sold for US$400,000.  While the identity of the buyer and the gold's exact amount remained anonymous, the broker said the sale turned out to be a win-win for both.

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David McCarthy, an experienced numismatist, refused to reveal the exact location but said that the 6.07-pound gold nugget was spotted in a "rugged" portion of California in July.

According to SFGate, the Sierra mountain range is home to hundreds if not thousands of gold chunks that weigh as much as 54 pounds.  However, when found, these huge gold nuggets are either melted or sold in chunks, making the Butte Nugget a rare find.

The buyer, who McCarthy described as a popular historical figure collector in San Francisco Bay, said the price is within expectations, said coin dealer Don Kagin.  Six enthusiasts looked into the giant gold before it was finally sold.

Kagin is also the same curator who sold a US$10 million worth of gold coins found in a couple's yard that made such a controversy this year.  The Butte Nugget was originally rated at between US$350,000 to US$450,000 considering its rarity and size.

In 2011, Kagin also scored an 8.2-pound gold called the "Mother Lode", which he claimed was found in the 19^th century Gold Rush sites.  Consequently, it was found that it was dug in Orange Roughie in Australia, and he had to buy back the gold for US$460,000 and resold it for less.

Despite Kagin's controversial records, McCarthy said he is convinced on the authenticity of Butte Nugget that the buyer did not care to verify it anymore.

Fans of artifacts and historical figures can visit the Butte Nugget displayed until Sunday at the San Francisco Fall Antiques Show, reported SFGate.

Tagshuge gold, Don Kagin, Butte Nugget