The discovery of "black gold" in Oklahoma precipitated one of the greatest rushes in the history of the West. One of the most famous oil discoveries took place on the Osage Reservation in the northeastern portion of Oklahoma. The mineral rights to the lands were sold to the highest bidder at auctions held under a large elm tree in Pawhuska. Because of the tremendous wealth that traded hands beneath its limbs, the tree became known as the "Million Dollar Elm".