Huge gold nugget is found buried in a secret location in Australia – and it could be worth thousands of dollars

A gold prospector has found a gold nugget worth $4,000 buried two feet underground.

The prospector, known as Bill M, found the 50g nugget on a private property in the Ballarat area, south-west Victoria, last week. The exact location remains a secret.

He shared a photo of the nugget to Australian Facebook group Detecting Downunder.

The prospector, known as Bill M, found the 50g nugget (pictured) on a private property in the Ballarat area, south-west Victoria

‘This is straight from a main gold reef and Bill looks like he’s onto something special. It was found about two feet (60cm) down.’

A gold reef is where a large amount of gold is found encased underground in the rock it was formed in.

The community of treasure hunters weighed in on the find.

‘Just wondering what a nugget of that size is worth? one user asked.

The group administrator answered: ‘At the current gold price of $82 per gram, it’s worth around $4k. Not a bad pay day.’

‘Damn it I thought I buried deep enough!’ another user joked.

‘Wow what a find,’ someone else said.

It comes a year after a prospector found a two-kilogram nugget (pictured) – also in the Ballarat region

It comes a year after a prospector found a two-kilogram nugget – also in the Ballarat region.

Mark Day, a prospecting gear supplier from Gold Ballarat, said it was the biggest nugget he’d heard of in decades.

‘I’ve been in this business for 25 years and this is the biggest find we have seen by one of our customers – that they’ve told me about anyway,’ he said.

Mr Day said he was shocked to hear of the size of the nugget, insisting the man, who was a regular customer of his, bring it in for him to see.

‘When he showed me the nugget here in the store he was shaking like a leaf. He didn’t know what to do with it. He hadn’t slept in three days.’

Buyers reportedly offered the man $160,000 for the nugget.

The Welcome Home nugget on display in Ballarat’s Gold Museum