A gold nugget is a lump that is found while mining for gold. Nuggets come in different sizes and shapes, but one thing most of them have in common is 20K to 22K purity (83% to 92%).
Purity can be somewhat assessed even with the naked eye, by the nugget color, the richer and deeper the orange-yellow the higher the gold content. Below we can see an example picture of a gold nugget that weights 2.25 ounces (63.8 grams).
Now lets take a biggest gold nugget ever. It’s name is Welcome Stranger and it was found at Moliagul, Victoria, Australia on February 5, 1869 by John Deason and Richard Oates. It measured 24 by 12 in (61 by 31 cm) and had an incredible net weight of 2,315.5 troy ounces (72.02 kg). What makes it even more interesting is, that it was found only 1.2 inches (3 cm) below the surface. Deason and Richard Oates were paid £9,381 for their nugget, and it is estimated that today it would have been worth around £786,000 ($1,262,000 USD).