Searching For A Piece Of The Meteor [VIDEO]

What is a piece of the meteor that fell in Russia worth?

Hole in a Russian lake made by meteor fragment (CBS)

According to the Australian newspaper, residents of Chelyabinsk, Russia were out looking for pieces of the meteorite that fell in their area hoping to collect a $16,000 bounty that one fragment is said to be worth. Police chased "meteorite hunters" away from the lake where a fragment created a hole in the ice.

Astronomer Phil Plait tells the Australian that meteorite collectors will be willing to pay a high price for a piece of the rock. One of those collectors is director Steven Spielberg.

"Having fragments from a known fall - and one with so much amazing footage and drama - means collectors will be all over this," says Plait.

The key to the ultimate value of the fragments will be what it is made of. "They could be valuable or could be worthless," Plait told the Australian.