Your investment

[blackchipjim]

Hello everyone, I'm here kicking things in around in my empty head and came up with this question. How much do I have invested in tangible equipment for prospecting and mining.I ask a lot of questions on mining and a lot of them are on equipment used in mining.I kinda ballpark I bought and used half of the stuff I asked about It would be a cool 100k. Have you ever thought about how much you have invested or is that subject best not visited.

 

Amazon Forum Fav 👍

A History of Mining on the Kenai Peninsula, Alaska - Grab it through Amazon!

[dredgernaut]

I have spent close to 50k or so. not all at once thankfully.

 

[arizau]

It is the return on investment that counts. If you can reasonably expect to make enough to pay for it, over time if need be, and make a reasonable profit or break even from it's usage then it is worth it. Beyond that, some equipment has residual value and can be sold when no longer needed so that could add to your overall profit from the venture or offset some of your losses.

 

[okbasspro]

25k not counting my truck all recuperated.

 

[IMAUDIGGER]

A complementary question would be have you ever bought equipment that never paid for it’s self.
I have $250 worth of fancy injection matting that has not even come close.

 

[johnedoe]

I have spent less than 1000 bucks on the equipment I have...

 

[Bonaro]

I shudder to think about how much I have spent on gold mining over the last 40 years. I have no way to balance but I am confident that I am far in the black. Aside from financial profit, I have gained a impressive collection of collectible gear and 100's of specimens. I have met many hundreds of people, some not so good but most are great and a few have become lifelong friends. I have experienced what most people only read about and others cannot even understand. I have enjoyed the wonders of the outdoors in ways that money cannot buy.
I consider myself wealthy because of gold mining...and I make a little money at it too

 

[N-Lionberger]

I have no clue, a lot LOL. There are a lot of things I bought before I knew better, there is a certain trash pump I spent way too much on and never used, also have a few bottom sucker pumps, funky old dredge parts etc...

 

[arizau]

A lot less than those my age who golf on a regular basis. Probably as much as the cost of the golf balls alone were I to be a golfer not counting club membership, green fees and clubs.

 

[Hamfist]

I’ve never sold any of my gold so it’s more about the enjoyment I get from having equipment that lets me do what I love doing. That said, I’ve spent thousands on equipment and it’s not going to be paid off (in gold) for a few more years. Paying it off isn’t my priority but it will be a big day when I do actually break even.

 

[RTD-Tech]

About $200. I'll probably never break even.

Lol, but then I never expect to, that's not why I do it.

 

[firebird]

Equipment means nothing without the right ground to find gold in. Better to spend thousands on a good claim or land with lots of gold than thousands on equipment that won't find enough on the wrong ground.

 

[Asmbandits]

It seems like everything I buy these days has been influenced to some degree by gold prospecting. If you include the side by side and bike and trailer im looking at somewhere between 15-20K

 

[Johnnybravo300]

I've never bought any power equipment yet, never have found a place where I could pay for it and I'm pretty frugal like that.
I have bought a few different sluice boxes between bazookas and Angus mackirks, a custom shovel and some estwing tools, gad bar and geo paleo pick. Basic tools other than that.
I've probably spent as much on my camping gear to spend weekends out there but I try not to get in over my head with tools, gets expensive very fast and i just haven't found the gold to pay for it yet.
I've been in construction my whole life and worked with enough tools to be patient and to see what I'll need for the job and the only thing I know is I haven't found the right spot yet. A few specks dont instantly warrant a $2000 highbanker for me haha.
Until then I will keep prospecting for better places and decide on what I need when I find an amount of gold worth placer mining. I find small amounts almost everywhere but it's just too low grade to warrant a big expenditure.
I needed new suspension on my prospecting car so I replaced the struts and lifted it 2 inches with a king spring lift. That was my biggest payout yet but it needed done anyway. It carrys my crap much better and rides like a champ.
Less than $1000 so far I'm sure and I sold my bazooka prospector for $350 and came out ahead on that.
My claim has the best potential so far but it's on hold while i prospect for better. I pay the 155 every year but that's doable.

I've been more prospecting orientated with my pan and loupe and research, not so much towards the mining yet besides the occasional relaxing weekend at the claim and sluicing.

 

[Capt Nemo]

So far about 10K for all the local prospecting. That's for food, fuel, gear, ect. Gold from those sources has been about an ounce. The paydirt I bought for testing scored ~$900 for $300 in cost.

The Alaska trip is in about 13K for gear, and I'm expecting another 20K for travel/shipping expenses. Renting a huey ain't cheap! Back in my military days, a UH-1 cost $9800 every time we cranked the engine.

 

[wildminer]

I try not to think about it. The wife reminds me more than enough.