View Poll Results: Can you or not make a living off of prospecting?
- 28. You may not vote on this poll
Jan 17, 2013, 03:17 PM
Bottom line, I will admit - its more an adventure than career.
Jan 17, 2013, 03:19 PM
simple, the ones surviving on $2 a day live in mud and grass huts and eat very little more than rice. That's not "living" in my book, and I don't plan to ever be barely surviving.
Originally Posted by keepmehumblelord
Show me someone who "bare survives" on $200 a day. Or is that gross gold finds before fuel, labor and equipment eat 90% of it?
Jan 17, 2013, 04:54 PM
Originally Posted by keepmehumblelord
I would think that if you are going to do your prospecting in Michigan, you are going to have a pretty rough go. There are many on this board who can find the gold, the hardest part is having accessible places to prospect, that have a economically viable source that can be harvested....JMHO
"The most inspiring thing about gold, is not the value, but under magnification, the true beauty of each piece. They are truly like snowflakes that never melt." Oakview2
Jan 17, 2013, 06:42 PM
Hahaha yes prospecting in michigan you might as well looks for $1 in cans as your goal for the day. Here there is only flour gold. The biggest piece found was a pea size on a LDMA claim in michigan and that goes to say is it even a michigan piece? I think it was not a michigan piece but who knows. Metal detecting you can find some cool things but even here you are only gonna get $2-$5 of clad on a good day. This year im up to about $11 in change, 2 1800s axe heads, tons of garbage and some pendants that are no good as far as silver and gold go. Last summer I found a gold ring which was awsome. I went out for a few hours tonight to a local school and came in with 52 cents. Didnt even cover my rip it energy drink haha. We do have some great lakes to prospect but to cold as of now to go in the water. There are all sorts of arrow heads and such to find around my area i just found out. IF i was trying to make it by with gold prospecting I would consider AZ. CA. AK. I know a hard working 6 days a week all day prospecting could bring in around $250 a week which isnt to bad for someone that has no job. Anyways michigan stinks for any type of prospecting. My best test pan here was like 17 pieces of fine fine glacial gold. SUpposidly the grand river here has some gold in it but you would need a dredge and i dont think it would be worth the time. I have heard stories of upper michigan containing gold in the huron mountains but i went up there and only found flour gold. One guy got a ounce in one year but that isnt anything probably the gas and time that went into it.
Originally Posted by Oakview2
Jan 17, 2013, 06:43 PM
Civel War Hunter
Just watch the show "Gold Rush". I think you will find your answers.
" The day of 12/21/12 was a day that will be remembered as the day the world didn't come to an end". "Truth is that the world ended a long time ago when the world started to fight and stopped loving one another".
-Daniel G Henline
Jan 17, 2013, 08:06 PM
I should wonder if each time one were to think about purchasing some gold prospecting equipment that instead you buy the equivalent money in grams of gold from a place like Apmex, you would at the end of a decade have a lot more gold to show for your efforts.
I know personally that I have about $1500 invested in equipment...that is at least 28 grams of gold I could have purchased. If we count gasoline and club memberships, I would be well over an ounce. In total I have found less than 2 grams.
This has me thinking that the best thing to do if you like prospecting is to invest no more than $6 or so in a gold pan. Ride your bike to the nearest stream...it doesn't matter if it is a gold bearing stream as you are not going to find much anyway. Use the remaining money you saved to buy gold online. You still get the exercise and being out in nature, but you come out way ahead.
Last edited by Fermion; Jan 17, 2013 at 08:08 PM.
Jan 17, 2013, 08:18 PM
Just another Guy In Back
Get up late... Start slow... Taper off...
Jan 17, 2013, 09:13 PM
You mention a few medical bills, credit card, and student loan. At the minimum you need to get a job flipping burgers and pay off the medical and cc. If you are as good at living on nothing, that won't take long. No debt, no family, go have an adventure for a year. Ignore debt payments and you will return to a harsh reality. Frankly it's a much easier adventure if you start with at least a few grand in the bank. It's called planning and even single dudes out for adventure need to do it.
Jan 18, 2013, 08:17 AM
You've come to the dance 20+++ years too late as now way tooo many insane,arcane and assinine rules,regs,seasons,exclusion,plans and delusions to wrest a decent living from mining. Might be a few hid waaaaaay out in the boonies but not to darn many . Raised four kids mining in the past 40+ years but not in todays insipid world-John
Jan 18, 2013, 02:13 PM
I understand the pusuit of gold is not a very smiled upon course of action, Just becouse I am trying to prospect fulltime doesn't mean I live by a fire and eat out of a can. And I guess it depends on what you consider making a living..Personally I do not put no stock in anything that doesn't have a pratical use and alot the things I buy are used. And my part of the rent/utilities and all of my personal habits are paid for by gold. and even in the spring summer where I will be living 90 percent outside I still responsable for these. There are many way to exploit gold for profit. And that is where the majority of my income comes from.. If you think it's a matter of finding an the selling then ya I suspect you may have rough times and it will be more of an adventure. Alot of my time is spent with a hammer or shovel in my hand but equally spent in figuring out how to get the most money for my gold.. Does me no good if I sell it at 70 percent of it's value. I am always looking and taking advantage of ways to profit from gold. And you would be suprised..I feel the reason the majority of people who can't make it as a fulltime prospector would have little sucsess at anything they would try to do on their own. If I chose to open a small business the challenges are generally the same as I face in prospecting. I am just learning how to make it work and as profitable as I can.. I am willing to take on the extra work/responsability becouse I don't like working while someone else while captilizes on me. my family and I will be the only one to proifit from my work. lets face it sucsess has really nothing to do with it. alot of small business try and fail and hopefully they try again. I am challenged daily and I am costantly rewarded and discouraged and some days I want to cry/give up. But I remberer how unhappy and unchallenged I was when employed and working for a two bit raise. The truth is Most PEOPLE FAIL becouse they just never really wanted to make it work and they are unrealistic in their expections and are not truly commited and easly discouraged.
I have no fear of failing becouse I am dedicated to making it work. THAT SIMPLE. And not only am I looking at now I am looking at 5-10 years from now. As you may think I have visions of prospecting for a living in 5-10 years now I will be prospecting and hiking but my source of income will somewhat have evolved allowing me to spend my time as I see fit.
Jan 18, 2013, 02:16 PM
Hello all, been busy with work and a few other things this last week so I have not been on the forum. This post about making a living or not is interesting and I will go ahead and put my two cents in. I started detecting for gold many years ago with the advent of the Whites DI Series (many years before the Goldmaster Series). Back then there were places to go and find some nice gold even with the old units. When the GBII and the Goldmasters came out things started to change a bit. Let me go back a bit and say that in my particular area I was the first person to detect in many locations. Because of this fact I was able to get lots of good days and bring home lots of gold. Back then gold was a few hundred dollars per ounce. I was getting thousand dollar days every month. I was detecting full time back then, maybe seventy hours a week. That went on for about four years and other people started to gain knowledge about detectors and gold. Before I knew it everyone had a detector in Trinity County. I would have to say that I did make a living, a real good living, at detecting for gold for those four years.
Because of all the newcomers my take started to slow considerably and I had to start researching for more new areas. I found new areas but many others did also. Dont get me wrong I was still doing real well but I was down to detecting only a few days a week. I still found some nice nuggets but it was getting harder. After my first four year run I was not making a living at detecting. I found over 450 hydraulic pits and ground sluices in Trinity County during those years. As far as I was concerned Trinity County was over for me. I made a mistake as right there at my backdoor in Weaverville was the original diggings behind the high school. For almost ten years no mention from anyone about this area. Well I took a walk out and about one day after getting my first Minelab and covered a very large area with dig after dig for miles and I detected gold at every location, some small earring pieces and some nice half ounce nuggets. Once I got back to the house and got the gold on a scale it came out to 6.4 ounces, not a bad day. I continued to work this area by myself for almost five years and did very well. I was working at the local wood mill so I only detected for a few days out of the week during this time. While I was still living in Weaverville I took a trip to the Sierra with a friend and found a quartz boulder that had over seven pounds of gold locked up in it. This was a good day also, however it had been a slow period for the mill that year so even with that gold we barely skated by with the kids in school and trying to keep things going.
After the kids graduated the wife and I decided to make the move down to Redding and I thought I was leaving my detecting behind. After riding around Redding and seeing ground that looked gold bearing to me I started to research again. Well, lo and behold I found the Clear Creek area. There were many people sluicing and panning but none detecting. I was on the road again. First few weeks I did okay and stayed down by the road and detected the old diggings but the better gold was to come off the hillsides and still does. In just the Clear Creek area many pounds of gold were detected for many years to the present. Again, I was working during this time.
I still continue to detect and hunt for pockets with a detector and do quite well at times but not like I use to do. I am a very good hunter/prospector however if things had not been laid out for me by fortune I would never attempt to make a reasonable living by detecting for gold. You get lucky sometimes but in the long run most are better off working and if you happen to do good on a day off, well, you do good and that is ice cream on the pie. I realize you are not talking about just detecting but these are my experiences with detecting.
Nowadays the biggest part of prospecting is in the library, on the computer or old newspapers. Following up on old leads and keeping your mouth shut will give you some advantage but there are lots of people doing this hobby now and that in it self makes it very hard. Just some of my thoughts. TRINITYAU/RAYMILLS
Jan 18, 2013, 02:17 PM
Jan 18, 2013, 03:12 PM
It does make you wonder though at where will be the next big gold rush and if one could get in on it early.
Perhaps it will actually be deep ocean when ROVs and AI become advanced to the point you can place them out like a crab trap and come back in a week and harvest the gold they have collected.
Jan 18, 2013, 04:15 PM
There is always the possibility of making money in treasure hunting,whether it be for gold or coins,alot of it comes down to experience and how much time you are willing to dedicate to this adventure.
We all know jesus rode a shovelhead,Thats why he walked everywhere he went!!!
Jan 18, 2013, 04:16 PM
ive been metal detecting for the past ten years as a hobby and i can say between clad and selling my finds n such,ive made an easy 15k over that period of time.
We all know jesus rode a shovelhead,Thats why he walked everywhere he went!!!
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