Yes, Australia has produced some of the world's largest gold nuggets, with the most famous being the "Welcome Stranger," found in Victoria in 1869, weighing over 72 kg (158 lbs) and being the largest alluvial gold nugget ever discovered. Other massive finds include the "Welcome Nugget" (68.2 kg) and recent significant finds by modern prospectors, proving that large nuggets are still discovered today, often using metal detectors in historic goldfields like those in Victoria and Western Australia.
the largest 72kg gold nugget ever found (called the Welcome Stranger), today this nugget would be worth approximately $4.5M USD, discovered by two miners John Deason and Richard Oates on February 5, 1869, near Moliagul, in the state of Victoria, Australia.
Yes, in most Australian states, you can generally keep gold you find, especially as a hobbyist on {!nav}Crown land, but you typically need a Miner's Right or prospecting permit, and rules vary by state, with Tasmania having stricter laws where gold may remain Crown property. The key is proper licensing, respecting land ownership, using hand tools (no explosives/heavy machinery), and distinguishing between hobby finds (often tax-free) and commercial mining.
Dogtown Nugget was the first large gold nugget found in California. It was found in Willard Gulch on April 12, 1859, and weighed in at 54 troy pounds (20 kg). Willard Gulch is in the southern part of Magalia, California in Butte County part of the Feather River canyon.
The "Welcome Stranger" is widely considered the largest gold nugget ever found, weighing 72 kilograms (158.7 lbs) before cutting and polishing. It was discovered by Cornish miners John Deason and Richard Oates on February 5, 1869, near Moliagul in Victoria, Australia.
A 72kg gold nugget, like the famous "Welcome Stranger," is worth tens of millions of dollars today, primarily based on its gold content (around 71-72kg pure gold), which fluctuates with the spot price, but also significant collector value, though most large historical nuggets were melted down. Based on recent gold prices ($145,000+ per kg), its metal value alone would exceed $10 million, but its historical significance as the world's largest alluvial find makes it priceless, with a replica displayed in Melbourne.
Discovered in 1869 in Victoria, Australia, by two miners named John Deason and Richard Oates, this nugget instantly changed the history of mining. The welcome Nugget weighs an incredible 72.02 kilograms of pure gold after being cleaned from the rock. For comparison, a standard gold bar weighs just 1 kilogram.
200lb Gold Nugget Sparks Gold Fever in Australia
The single cut in the mine produced about 9250 ounces of gold worth almost 11 million dollars. This is not a typical find, in fact most gold mined today is in the form of small flakes and nuggets, some so small a microscope is needed.
If you invested $1,000 in gold 10 years ago (around late 2015/early 2016), your investment would likely be worth significantly more today (late 2025), potentially in the range of $2,000 to over $3,000, reflecting substantial price appreciation, though less than the S&P 500 but outperforming during certain periods of market stress, acting as a hedge against uncertainty, with returns varying based on exact entry/exit points and premiums/spreads.
$100,000 worth of gold looks surprisingly small, often just a small stack of coins or a single large bar, because gold is so dense; it's roughly 22 to 27 one-ounce coins or around 3 to 4 kilograms (7-9 lbs), depending on the current price (around $2,900-$3,700/oz in late 2025/early 2026), appearing as a compact, heavy pile, not a huge amount.
About 60% of Australia's gold resources occur in Western Australia, with the remainder in all other States and the Northern Territory. Virtually all resources occur in primary deposits, many of which have undergone some degree of weathering.
The “Welcome Stranger” nugget, found in Australia, weighed an astonishing 172 pounds. Gold nuggets form naturally over millions of years through erosion and geological activity. Only 2% of the world's gold exists in nugget form, making large finds incredibly rare.
Welcome Stranger is the name of the largest alluvial gold nugget ever discovered. It was unearthed by Cornish miners John Deason and Richard Oates on 5 February 1869 in Moliagul, 9 miles north-west of Dunolly in Victoria, Australia.
Nuggets are valued for their gem quality. As a result, a nugget will cost more than a similar weight of processed gold because they are so hard to find. Due to their increased scarcity, authentic gold nuggets will continue to increase in value at a much more dramatic rate than gold in any other form.
Gold Has Also Been Created in Laboratories in Other Ways
The artificial production of gold is not limited to nuclear reactions. Scientists have discovered several chemical and biological methods of producing tiny amounts of gold in the lab.
A 1980 Australian $200 Koala gold coin is worth significantly more than its face value, primarily based on its gold content (10g of 22ct gold) and current gold price, but also with some numismatic value, often trading in the range of AU$1,500 to over AU$2,000 depending on the market, condition (proof vs. uncirculated), and dealer, as it contains about 0.295 troy ounces of pure gold.
As of early January 2026, a kilogram (kilo) of gold is worth approximately $145,000 to $146,000 USD, or around $216,000 AUD, though prices fluctuate constantly based on the spot market and dealer premiums, with retail prices differing slightly from spot rates. For the most accurate, real-time price, check live gold trackers like those from APMEX or Monex, and remember that dealers add a premium for physical bars.
Introduction. In December 2024, the debate on metallic mining in El Salvador took a significant turn. President Nayib Bukele, through a series of posts on Twitter, claimed that the country has gold reserves valued at $3 trillion.
Warren Buffett calls gold an "unproductive" asset
That's part of the reason he dislikes gold. In his 2011 letter to Berkshire's shareholders, he explicitly referred to it as an unproductive asset and highlighted two of its main shortcomings: Gold isn't very useful.