Brewery Creek was the closest they could get to the site of Hartley and Reilly's original discovery, now under water, which sparked a gold rush and led to the formation of the Cromwell township.
All discs won their finders a prize, such as books and wine donated by local businesses, but most diggers' eyes were on the top prize - an ounce of Earnscleugh gold.
For some, finding any disc was enough.
As well as prizes, all diggers were able to wrap their chilled fingers around traditional goldfields "grog and tucker".
For the more determined, it seemed gold fever had set in as they rushed back to the beach to search for further booty.
Earlier in the day, a plaque to commemorate the occasion was unveiled above the spot where Hartley and Reilly found their gold, near the confluence of the Kawarau and Clutha Rivers.
That evening, at the heritage fashion parade, Cromwell man Nigel McKinlay was declared winner of the beard-growing competition.
He and the other competitors - Alex Huffadine (second place), Greg Wilkinson (third) and Dave Moreton (fourth) dressed in period costume and had their specially grown facial hair judged on style, length and presentation.
Mr Wilkinson said Mr McKinlay was the clear winner with "the bushiest and most impressive beard", possibly helped by "the testosterone of youth".
Mr Huffadine's beard was the first to be shorn, at the street party in Old Cromwell yesterday.
While Mr Wilkinson said Mr Huffadine was ready to get rid of his beard - "he was the sacrificial lamb, albeit a willing one" - his own beard would stay, at least for another week.
"There are OSH issues and my welfare to consider . . . after five months [of having the beard] the shock [of removing it] could have severe ramifications.
"I didn't see the point of removing it at the start of heritage week."
The Cromwell Gold 150 celebrations continue this week with photographic and film displays at Molyneux Restaurant and the Otago Goldfields Heritage Trust offices, as well as goldfields tours and talks.
This weekend a midwinter party will take place in the Cromwell Mall, followed by the Gold Fever Shindig at the Cromwell Memorial Hall.