An anonymous “elf” in New Albany, Indiana, took the Christmas-giving spirit to the next level by dropping a gold nugget into a Salvation Army kettle.
Almost every year, I read about somebody gifting the Salvation Army gold. It always makes the news because getting gold is a big deal.
That’s because gold is real money. Everybody immediately recognizes its value!
The “trusted elf,” as a Salvation Army press release called the anonymous donor, delivered the nugget to a Kroger store in New Albany, a suburb of Louisville, Kentucky. According to WHAS, the nugget weighed in at 15.5 ounces, making it worth just over $40,800 at the current spot price of gold. But according to Heritage Auctions VP of Nature and Science Craig Kissick, the nugget might be worth upward of $50,000.
“Nuggets of this size are inherently rare. Due to their scarcity, examples such as this, and especially of this quality, can often be expected to achieve a premium in value well beyond the mere value of the gold content.”
The natural forces that create nuggets, including erosion and water transport, often also break them apart, making large specimens uncommon. Modern mining methods also tend to crush gold into fine particles, rarely leaving intact nuggets.
The donation of gold stirred up quite a bit of excitement. In fact, it likely turned heads even before they knew the true value of the nugget. That’s because the value of gold is recognized by virtually every culture around the world.
If you are still looking for a last-minute Christmas gift, perhaps you should consider the gift of gold or silver. We can guarantee your gift won’t end up in a garage sale next year. And it will likely be worth more than when they opened it.
Check out the Money Metals’ Holiday Gift Shop, and have a wonderful holiday season!
Source: Money Metals Exchange
Mike Maharrey is a journalist and market analyst for MoneyMetals.com with over a decade of experience in precious metals. He holds a BS in accounting from the University of Kentucky and a BA in journalism from the University of South Florida.
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