Don Kagin proudly displayed a massive 98.6-ounce gold nugget at the Chronicle studio in San Francisco on a Friday in January 2011. Alongside his business partner Fred Holabird, they planned to auction off this impressive find in Sacramento on March 16, 2011. However, it was later revealed that this extraordinary nugget, believed to be the most remarkable discovery in the Sierra Nevada in years, was actually a cleverly crafted replica. It wasn’t fake gold, just a remarkably convincing imitation.
The Washington Nugget, weighing 8.2 pounds, was thought to have been discovered by Jim Sanders near the historic Gold Rush town of Washington, but it was later revealed to actually be from Australia. The gold chunk was sold for $460,000, sparking interest from gold enthusiasts worldwide.
Murray Cox, an Australian prospector, recognized the nugget as being similar to one he found in Melbourne in 1987, known as “The Orange Roughie.” Coin dealer Don Kagin and mining geologist Fred Holabird helped uncover the truth behind the nugget’s origin.
After it was confirmed that the nugget was from Australia, the buyer was refunded, and the gold chunk was sold for a lower price. While two smaller nuggets claimed to be from Sanders’ land were authentic, Kagin and Holabird are no longer assisting Sanders in selling his property.
The mystery of how “The Orange Roughie” ended up in Sanders’ possession remains unsolved, as no fraud charges were pursued due to confidentiality agreements. Despite the confusion, the smaller nuggets from Sanders’ land were genuine, and no further actions were needed for their sale.
