Giant Nugget of California Gold is Actually Australian

Photo: Don Kagin holds a nugget said to be discovered in the backyard of a California Man. Photo from AP.

Back in March, Jim Sanders of Washington, California sold a 98.6oz nugget he found on his farm for $460,000, claiming that it was gold which was dug up on his California property. Sanders lives on ground that is historically linked to the California gold rush, so speculation quickly ensued that this piece was the biggest single piece obtained from the land. Its size also garnered a nickname—The Washington Nugget. Now, the gold has been tested and exposed as originating from Australia, not California.

The scam came to light when an Australian named Murray Cox saw the gold in a trade magazine. He recognized it as something he dug up over 20 years ago. He sold it to a buyer in Arizona for $50,000 in 1989.

The buyer who purchased the Australian gold in March has been refunded. Unfortunately, gold scams to all degrees are nothing new. Protect yourself and your assets by dealing with a licensed gold dealer to sell your goods. Trade your gold for cash with the professional gold assessment team at Cash 4 Gold.

Historic Gold- James W. Marshal

In recognition of the Fourth of July holiday, the Cash4Gold blog embarks on its latest Historic Gold segment by remembering one of the most important gold finds in the history of the U.S.

The significance of carpenter James W. Marshal’s first gold find was unparalleled in terms of California’s history. Marshal’s discovery set the stage for the events that turned California into an official state, when his catalyst find created the California gold rush, sending in hundreds of thousands of people to the settlement, resulting in its culture and creation as a state.

Marshal was employed to build a sawmill in the California area by Joan Sutter for the use of lumber production. The construction of the mill was done in Coloma beside the American river. On the morning of January 24, Marshal was examining a channel that ran below the Sutter sawmill and discovered flecks of a shiny material in the channel’s bed. He scooped up only a handful of these flecks and in doing so discovered the first gold of the California Gold Rush.

Photo: The actual river channel where Marshal discovered gold as seen today.

Source and photos: http://www.coloma.com/gold/marshall-park.php

Three Most Frequently Asked Questions about Gold

Image: The Mojave Nugget- 156 troy ounce nugget, the largest ever found in California.

With gold today returning to the positive growth lines (currently at 1, 543.75 as of 11:30am today, up 0.08% as of just yesterday), now is a better time than ever before to visit three of the most frequently asked questions about gold.

Question 1- Where does gold come from?

The question “where does gold come from?” contains various historical and scientific explanations. To make things simple, gold comes from the very ground you stand on. It is a metal, and although very precious, it comes from the same place all metals come from: on parts of ground, mountain bodies, in grains of rock, and even in other compounds such as Tellurium. Gold can be possibly be anywhere, and yet, what makes it so special, is that regardless of its possible abundance gold is the rarest metal on earth. Why is Gold so rare? The rarity of gold comes from its importance to people, and the fact that it has been valued since the Copper Age…7,500 years ago. For over seven thousand years, humans have been searching and excavating gold. The World Gold Council estimates that 165,000 tonnes of gold have been mined since the dawn of human-gold relations up until 2009.

Question 2- What is gold used for?

Gold is famously known and recognized worldwide for its use in jewelry and luxurious items. Because of gold’s synonymous nature with wealth, it is easy for objects of luxury to be first on the list when thinking about gold use. But jewelry isn’t the only item gold is present in. In being not only one of the rarest metals, but also one of the strongest, gold is also known for resisting attacks by acids and is also the most malleable and ductile metal known on earth. These properties of gold make the precious metal a perfect choice for practical uses in dentistry products, electronics, and other fields. Gold is considered by many as the most powerful and trustworthy investment, but is also used in medicine, chemical industries, and even in food!

Question 3- How much is gold worth?

As of today, the price of gold is currently worth $1, 543.75. The price of gold is one of the busiest markets around, and is always changing. Just five years ago, this price was almost a thousand dollars less counting in at around $600. The price of gold has continued to rise over the years, maintaining a strong position even through economic hardships. So what does this mean for the average gold consumer? It means that gold is at a record high, and now is the best time to get the most money for your gold. Scrap gold and broken or unwanted jewelry spend years collecting dust and being neglected. However, even scrap gold contains bits of the precious metal, and should never go to waste. If you have any unwanted, unused, or broken gold, now is the time to get real cash for it and put the value back in those items. Cash4Gold, is not only a leader in the gold mail-in industry, the company created it. Visit www.cash4gold.com and order your free Jewelry Return Pack, where Cash4Gold covers shipping, insures your gold, and delivers you the easiest way to simply mail in your unwanted or unused gold for real usable cash.

Image source: http://cs.astronomy.com/asycs/media/p/463617.aspx