12-Pound Gold Nugget Unearthed in Ballarat Australia (VIDEO)

What a lucky day for the finder of the 12-pound gold nugget in Ballarat, Australia! The unnamed prospector used a Minelab GPX 5000 metal detector (costing $6,000) with an Advantage Plus Sadie mono coil and a Rooster Booster audio enhancer to detect the gold piece in the Victoria’s goldfields, reports ABC News.

According to Cordell Kent, owner of the Ballarat Mining Exchange Gold Shop, the prospector rushed the gold to him. Upon inspecting the piece, Kent valued the nugget to a whooping $300,000 price or even much more.

“If you are silly enough to melt it down, it would be worth just under $300,000 on market value but as a nugget at this size and shape, it’s worth significantly more than that,” he said.

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