The Economics of Everyday Things 6. T. rex Skeletons
Jan 19, 2026
Unravel the fascinating journey of T. rex fossils from the ground to prestigious museums. Discover the clash between public and private fossil ownership and the rules guiding their excavation. Learn how commercial fossil hunting operates, including revenue splits and the lengthy search for valuable specimens. Hear about shocking auction prices and the challenges faced by collectors in selling rare finds. Explore the rising trend of private collectors funding digs while balancing the need for scientific access, all highlighted by new discoveries of juvenile T. rex fossils.
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Hell Creek Is T. rex Central
- The Hell Creek Formation is the primary source for nearly all documented T. rex finds.
- Fossils on public land are legally protected and meant for science and public trust.
Private Land Creates A Fossil Market
- Fossils found on private land can be sold on the open market with few restrictions.
- Commercial collectors like Peter Larson negotiate landowner shares and operate a market-driven fossil industry.
Cut Landowners Into Future Value
- When negotiating access, offer landowners a share of future sale value to secure permission.
- Estimate excavation overhead in advance because projects can take years and exceed budgets.