The spike's installation marked the completion of the Alaska Railroad in 1923. It's spent most of the time since then in the hands of private owners

A variety of private donors supplied money for the purchase, the museum and city of Nenana said in their statement.

ANCHORAGE, Alaska (AP) — President Warren G. Harding drove a golden spike into the final coupling of the Alaska Railroad more than a century ago, a ceremonial act that marked the launch of a system to easily bring coal and other natural resources out of the wilderness.

The golden spike that was used to complete the Alaska Railroad in 1923 will for the first time be on permanent display in Alaska after entities combined to win an action for the 14-karat gold spike Friday.

The total cost of purchasing the 14-karat gold railroad spike at auction, to reclaim a piece of Alaska Railroad history, was $201,600.

An Alaska museum and city, with help from donors including the Alaska Railroad, have won the auction for a 14-karat gold spike that was part of the railroad’s completion ceremony in 1923. The Anchorage Museum and city of Nenana will take turns displaying the spike,

The Anchorage Museum, along with the City of Nenana, bought a special railroad spike at a Christie’s auction for $200,000. The spike is made of 14-karat gold and is rich with history.

The Anchorage Museum and the city of Nenana, joined forces to bring home the Golden Spike, an iconic piece of railroad history.

President Warren G. Harding drove a golden spike into the final coupling of the Alaska Railroad more than a century ago, a ceremonial act that marked the launch of a system to easily bring coal ...

RIDE AS HE SAID HIS FINAL FAREWELL. WE’RE READY TO GO. YEAH. ALL RIGHT. THERE WE GO. JIM RICE NEVER INTENDED TO BE A RAILROAD MAN. I HATED IT AS A KID. I JUST REMEMBER MY DAD BRINGING ME UP JUST ...

President Warren G. Harding drove a golden spike into the final coupling of the Alaska Railroad more than a century ago, a ceremonial act that marked the launch of a system to easily bring coal and other natural resources out of the wilderness.

If you want to learn about the Alaskan gold rush by train, the 'Scenic Railway of the World' is the perfect place to start.