Gold mine workers hold gold nuggets as they weigh them in a local mine in Al-Ibedia locality at River Nile State, July 30, 2013. REUTERS/Mohamed Nureldin Abdallah
Gold mine workers hold gold nuggets as they weigh them in a local mine in Al-Ibedia locality at River Nile State, July 30, 2013. Reuters/Mohamed Nureldin Abdal

A rare and giant gold nugget that was excavated in northern California has sold for a whopping $400,000. The metal weighed 6.07 pounds.

The gold piece, called Butte Nugget because the seller discovered it on public land in Butte County, sold a day after it was put on public auction on Thursday. The safe haven yellow metal was discovered in July.

Don Kagin, who acted as middleman between the gold nugget buyer and the seller, said the person who bought it doesn't want his identity revealed. "The new owner wants to be secretive, so we can't name him." The only information disclosed about the buyer was that the person came from the "prominent Bay Area" and was a collector that specialized in historical items.

David McCarthy, chief numismatist of Kagin.com, said the Butte Nugget attracted six different potential buyers who showed interest as well as capacity to buy the gold piece. According to the San Francisco Chronicle, a potential bidder from far away Australia likewise inquired about the gold piece.

Presumably having known about his potential rivals, the winning buyer immediately came forward. He was actually the first to lodge an offer close to the price the seller was looking for.

The seller of the gold Butte Nugget likewise requested for secrecy, withholding both his identity and the exact location where the Butte Nugget was found. The seller maintained this would prevent hordes of treasure seekers as well as potential scammers who go to the county looking for 6-pound gold nuggets.

McCarthy told WGNTV that it isn't everyday that nuggets of such weight are discovered. In fact, "I really didn't believe that I would see a California nugget of this size unearthed during my lifetime."

According to the Associated Press, individuals found gold nuggets during the 19th century Gold Rush days in California. Among them was a 54-pound chunk in 1859, also found in Butte County.

In May, a middle-aged couple, also from California, became several millions richer when they auctioned off 1,427 rare gold coins they unearthed in their backyard. They discovered the loot, described as 19th century rare gold coins, while having a leisure stroll with their dog. The collection, named the Saddle Ridge Hoard for the area where it was found, contained pieces struck from 1847 to 1894.

Photo of the actual 6-pound Butte Nugget here.