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It is the opposite of "White Trash". Someone who is an upstanding example of American and all that is amazing about being white. Underlying connotation would be extremely sarcastic and moderately pejorative, as is the common usage case.
1) Mike just dominated in flip cup, he is such a White Treasure.

2) Only a White Treasure could shotgun a beer, puke off the balcony, and then rally.

3) Dude you have to get the 7 pound chili cheese dog, its a White Treasure.
by gorovski August 07, 2013
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