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.

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 city of Anchorage presented him with the golden spike in appreciation of his work. He sent the spike back from Seattle for the Harding event in Nenana, a community in interior Alaska.