Bendigo and Ballarat still have all the grand buildings that were built with the gold money.

BBC: The glittering goldfields of southeastern Australia

Shmith expects collectors may already be eyeing a potential purchase of the Ballarat nugget because of its rarity.

CNN: Gold nugget worth $300,000 discovered in Australia

Ballarat Reform League Charter 1854 held by the Public Record Office Victoria.

UNESCO: Communication et information

The 47-year resident of Ballarat says that gold has been continuously found in the region since 1851, but technology has recently become an essential aid for modern prospectors.

CNN: Gold nugget worth $300,000 discovered in Australia

The man, described as an amateur explorer who wants to remain anonymous, unearthed a 5.5 kilogram golden nugget 60 centimeters in the ground outside Ballarat, a city about an hour and a half drive west of Melbourne.

CNN: Gold nugget worth $300,000 discovered in Australia