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(Yahoo)   California 1849: There's gold in them thar hills. California circa 1990: These gold mines are all tapped out, but maybe we can sucker in some tourists. California 2012: Gold is at $1,700/oz? FIRE IN THE HOLE   (news.yahoo.com) divider line 44
    More: Interesting, mining, El Dorado County, black holes, female billionaires, tourists  
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7084 clicks; posted to Main » on 18 Dec 2012 at 11:20 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-12-18 09:37:25 AM
They may delve too greedily and too deep.
 
2012-12-18 11:23:38 AM
I've always wanted to set up camp and pan for gold for about a month.
Not that I'd find anything.
 
2012-12-18 11:25:11 AM

URAPNIS: I've always wanted to set up camp and pan for gold for about a month.
Not that I'd find anything.


Up in Alaska you would... If you could find a place that isn't already claimed.
 
2012-12-18 11:27:00 AM
As the price goes up, it does become more economical to mine the less attractive reserves where the recovery is smaller.
 
2012-12-18 11:27:03 AM
Yeah, these same assholes are using little minidredges to suction mine the gold out of some southern Oregon and northern California rivers, destroying years of progress towards restoration for trout and salmon.
 
2012-12-18 11:27:11 AM
They should call up those Alaska guys.
 
2012-12-18 11:28:49 AM
sharetv.org
/obscure
 
2012-12-18 11:30:55 AM
I remember watching a show about the California gold rush a few years ago (I think it was on PBS American Experience or something). They basically said if you heard about the Gold Rush and showed up in California in 1849 you probably weren't going to strike it rich looking for gold. All the good spots and easy to find gold were taken in 1848. The people who really made money in 1849 were the people who set up saloons and supply shops and that sort of thing and sold supplies and liquor to the people who thought they could get rich by finding gold.
 
2012-12-18 11:36:19 AM

mechgreg: I remember watching a show about the California gold rush a few years ago (I think it was on PBS American Experience or something). They basically said if you heard about the Gold Rush and showed up in California in 1849 you probably weren't going to strike it rich looking for gold. All the good spots and easy to find gold were taken in 1848. The people who really made money in 1849 were the people who set up saloons and supply shops and that sort of thing and sold supplies and liquor to the people who thought they could get rich by finding gold.


It's called "mining the miners."
 
2012-12-18 11:41:00 AM

Eatin' Queer Fetuses for Jesus: mechgreg: I remember watching a show about the California gold rush a few years ago (I think it was on PBS American Experience or something). They basically said if you heard about the Gold Rush and showed up in California in 1849 you probably weren't going to strike it rich looking for gold. All the good spots and easy to find gold were taken in 1848. The people who really made money in 1849 were the people who set up saloons and supply shops and that sort of thing and sold supplies and liquor to the people who thought they could get rich by finding gold.

It's called "mining the miners."


nyoobserver.files.wordpress.com

Sometimes I wish we could just hit 'em over the head, rob 'em, and throw their bodies in the creek.
 
2012-12-18 11:49:07 AM
The other day I was watching that PBS fund drive thingy where they were showing that guy that lived in a cabin he built in the Alaska wilderness.
He panned for some gold and found some.
He said with gold at $39 an oz he would be able to afford some extra treats on the next supply trip.

At todays rates, he'd be able to afford a phone and call somebody to come and get him the frick outta there!
 
das
2012-12-18 11:51:21 AM

Eatin' Queer Fetuses for Jesus: [sharetv.org image 300x225]
/obscure


Nothing is obscure on Fark.
 
2012-12-18 11:52:54 AM

Eatin' Queer Fetuses for Jesus: mechgreg:
It's called "mining the miners."


I once tried that and Chris Hansen showed up.
 
2012-12-18 11:57:00 AM
The problem is that mining is now so industrialized that you have better chance of winning the lottery than being able to 'strike it rich' in the mining industry. Even if you were to use your magic new age gold vein detector and find a huge deposit worth billions, chances are you don't own mineral rights to the land it's on. Even if you owned the actual land, mineral rights aren't always included. If you tried to buy the mineral rights, whatever company owns the land would get suspicious and check it out for themselves before agreeing to sell said mineral rights. Then they'd thank you for your find and offer you a nice sum for the land, but no where near enough to justify your toil in finding it to begin with. If you refuse they can just mine it anyway from off of your land.

Case in point: Some local found a natural gas deposit on their land. Turns out another company bought up all the mineral rights for as far as the eye could see decades ago, so they simply came in to take what was theirs. The person WOULD have been filthy rich, now they get a small sum monthly for their land being fully populated by noisy ass natural gas wells.
 
2012-12-18 11:57:12 AM

Sybarite: They may delve too greedily and too deep.


Where have you been? They've already dug up Glenn Beck.
 
2012-12-18 12:00:07 PM

Hrist: Then they'd thank you for your find and offer you a nice sum for the land, but no where near enough to justify your toil in finding it to begin with. If you refuse they can just mine it anyway from off of your land.


i7.photobucket.com
 
2012-12-18 12:01:40 PM
I was going to invest in gold 10 years ago. Kicking myself for not doing so.
 
2012-12-18 12:05:03 PM
TFA is full of shirt.

Gold is measured by the Troy ounce, at 31.103 gramns, not 28,5 grams. Also there are 12 ounces not 16 in a Troy pound.

Whole article is inaccurate.
 
2012-12-18 12:08:07 PM
gold and other precious metals are measured in Troy ounces. A Troy ounce "weighs" about 31.1 grams, not 28 grams.

/know your units!
 
2012-12-18 12:11:01 PM
I'm pretty excited when rare minerals become worth enough that we start mining our garbage dumps. That will be fun times!
 
2012-12-18 12:17:00 PM

Sybarite: They may delve too greedily and too deep.


Let's hope so. I'd love to see a Balrog doing it's thing on the news.
 
2012-12-18 12:18:57 PM
AREN'T PRECIOUS METALS MEAURED IN TROY(31.103 GRAM) OUNCES? i KNOW eNGELHARD sUPERBARS *(SILVER) ARE. Why am I yelling?
 
2012-12-18 12:32:27 PM
Gold was first discovered near Santa Clarita in Placerita Canyon,, not Sutter's Mill.

Link
 
2012-12-18 12:36:08 PM
If dad says there's gold there, I'm in

videos.videopress.com
 
2012-12-18 12:38:01 PM

olddinosaur: Gold is measured by the Troy ounce, at 31.103 gramns, not 28,5 grams. Also there are 12 ounces not 16 in a Troy pound.


Yes, but those of us who smoke weed know that an ounce is 28 grams, and if you tell me otherwise I will kindly ask you to pass the cheetos and stop killing my buzz, kthxbai.
 
2012-12-18 12:40:50 PM

machoprogrammer: I was going to invest in gold 10 years ago. Kicking myself for not doing so.


In 1970 I was in Europe where you could buy USA double eagles for $62 in any bank.

They are worth about $2000+ today.
 
2012-12-18 12:45:50 PM

JohnCarter: If dad says there's gold there, I'm in

[videos.videopress.com image 400x266]


Still can't figure out how real that is, because if it is I just don't know what to say. Aside from they are the mining version of "how is babby formed."
 
2012-12-18 12:46:08 PM

Why Would I Read the Article: olddinosaur: Gold is measured by the Troy ounce, at 31.103 gramns, not 28,5 grams. Also there are 12 ounces not 16 in a Troy pound.

Yes, but those of us who smoke weed know that an ounce is 28 grams, and if you tell me otherwise I will kindly ask you to pass the cheetos and stop killing my buzz, kthxbai.


Dude, STFU, he was about to give you 3.103 free grams!
 
2012-12-18 12:49:27 PM
When the gold bubble pops (again), it's going to be amusing. "I THOUGHT GOLD COULD ONLY GO UP!11"

There's no farking reason for gold to be this high. I smell market manipulation.
 
2012-12-18 12:57:02 PM

joeflood: When the gold bubble pops (again), it's going to be amusing. "I THOUGHT GOLD COULD ONLY GO UP!11"

There's no farking reason for gold to be this high. I smell market manipulation.


There is a popular notion that gold is "safer" than investments in stocks/bonds/companies, and given the recent turbulence of the markets in general, it will increase both the number of people who share this notion, and the quantity of assets they are willing to convert to gold. When this occurs broadly, or even globally, the scarcity of the resource will lead to an increase in price.

TL:DR - Some people have been in a perpetual panic over their "investments" since about 2008 and think gold protects them from losses.

/What, you didn't say it had to be a *good* reason
 
2012-12-18 01:09:09 PM
News flash -- gold has been ridiculously high for years. You been under a rock, subby?
 
2012-12-18 01:12:55 PM

plutoniumfeather:
/know your units!


Maybe you and olddinosaur should collaborate on your research.
 
2012-12-18 01:23:16 PM

myrrh: Maybe you and olddinosaur should collaborate on your research


or quickcheckforfreshcommentsbeforeposting. great minds think alike.
 
2012-12-18 01:49:16 PM

Hrist: The problem is that mining is now so industrialized that you have better chance of winning the lottery than being able to 'strike it rich' in the mining industry


Not true if you do it right. The people/companies who make money take a long time and lots of work and research to find the gold rich spots. I spent all last summer at a successful family run gold mine in Alaska, and the owner has a bachelors degree in geology and a masters in mining science. Before he bought his claim he researched USGS maps and surveys for years. After he bought his claim he prospected for a couple years doing test drilling to find the best places to dig. This resulted in a mine that cost 2 million to run for the season but pulled 4.5 million in gold from the ground
 
2012-12-18 02:03:38 PM
I do a little gold panning in the creeks and rivers around central VA. Haven't found any gold yet, but it's fun to get out and sit in the water on a hot day and drink a few beers with some friends. That's the real gold. Friendship. And beer.
 
2012-12-18 02:13:14 PM

Mr. Cat Poop: I do a little gold panning in the creeks and rivers around central VA. Haven't found any gold yet, but it's fun to get out and sit in the water on a hot day and drink a few beers with some friends. That's the real gold. Friendship. And beer.


Even better I did this when stationed on Beale AFB, and actually occasionally found a bit here and there. I wonder if I go through my boxes if I can find my 2 little film canisters with dust and nuggets in them.
 
2012-12-18 02:25:43 PM
Isn't it: fire in the "hold"?
 
2012-12-18 03:09:27 PM

mechgreg: I remember watching a show about the California gold rush a few years ago (I think it was on PBS American Experience or something). They basically said if you heard about the Gold Rush and showed up in California in 1849 you probably weren't going to strike it rich looking for gold. All the good spots and easy to find gold were taken in 1848. The people who really made money in 1849 were the people who set up saloons and supply shops and that sort of thing and sold supplies and liquor to the people who thought they could get rich by finding gold.


Levi Stauss

Really, he made his fortune selling denim pants reinforced with rivets to the miners. You may know them in fact. Probably made more than anyone else in the whole gold rush.
 
2012-12-18 04:18:38 PM
My hometown was built on gold mining... there were a bunch of open mines you could go into and we explored as kids. Some of them were rampant with magic mushrooms too. I wonder if they're opening up claims again?
 
2012-12-18 04:30:42 PM

URAPNIS: I've always wanted to set up camp and pan for gold for about a month.
Not that I'd find anything.



Me too. There are gold veins and abandoned mines all around where I live. Most of the placer is gone, but I bet if you knew what to look for you might find something.
 
2012-12-18 04:31:58 PM

mechgreg: I remember watching a show about the California gold rush a few years ago (I think it was on PBS American Experience or something). They basically said if you heard about the Gold Rush and showed up in California in 1849 you probably weren't going to strike it rich looking for gold. All the good spots and easy to find gold were taken in 1848. The people who really made money in 1849 were the people who set up saloons and supply shops and that sort of thing and sold supplies and liquor to the people who thought they could get rich by finding gold.


Damn straight

www.berkshirefinearts.com
 
2012-12-18 08:48:47 PM
15 years ago at my parents carry out I used to talk with a truck driver who would buy gold with his extra cash (gold was around $400/ounce then), even showed me some of the coins he bought. I thought he was nuts, guy is rolling in it now.
 
rbt
2012-12-19 08:44:05 AM

RichMeatyTaste: 15 years ago at my parents carry out I used to talk with a truck driver who would buy gold with his extra cash (gold was around $400/ounce then), even showed me some of the coins he bought. I thought he was nuts, guy is rolling in it now.


That's only about 10% per year on par with typical returns from many business ventures including stocks. He was lucky to avoid a giant dip in 2008 but many people, like say a buyer of Apple stock in '98, would have made 4 times that (40% per year).
 
2012-12-19 01:35:18 PM
Howabout georgia?
the first gold rush
 
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