I am doing research on a fiction story and would like to make it somewhat realistic.
I have no experience in prospecting nor do I know anyone who does. That's why I came here. I have tried researching the internet and the info is confusing.
Question: When prospecting (the Dakotas or Colorado), on open public land, assuming that a small quantity of gold is found, does the prospector have to file a claim? If not, does he have to prove where he got the gold (to show he found it on public land and not from some other claim)?
Is there a limit to how much gold can be sold from prospecting?
If the gold is sold to a refinery or other such business, is there withholding for the IRS and if so, how much?
many thanks
gmichels
I have no experience in prospecting nor do I know anyone who does. That's why I came here. I have tried researching the internet and the info is confusing.
Question: When prospecting (the Dakotas or Colorado), on open public land, assuming that a small quantity of gold is found, does the prospector have to file a claim? If not, does he have to prove where he got the gold (to show he found it on public land and not from some other claim)?
Is there a limit to how much gold can be sold from prospecting?
If the gold is sold to a refinery or other such business, is there withholding for the IRS and if so, how much?
many thanks
gmichels
Upvote
0