Gold!

eelgrass · Apr 22, 2009

Lately it seems every other ad on the radio or television is an offer to buy gold. They say that experts are predicting gold could rise to $2000 an ounce in the near future. Right now it's selling for about $900 an ounce.

There is only so much of it, so the question I have is, if gold is such a good investment, why is everbody trying to sell it?

Eel

overton · Apr 22, 2009

Great question Eel.

1911 · Apr 22, 2009

So they can afford to buy more?

MuskegMan · Apr 22, 2009

"why is everbody trying to sell it?"

Cuz need the cash!

Do you really think these outfits are PAYING you $900/oz for your gold? I'll bet it's $450-500.

sageadvice · Apr 22, 2009

One year i picked up an ounce of gold a couple penny weights at a time from a gold dealer in a nearby town. If the spot price was about $20. a PW, he charged me $25. for my pick of nuggets. A couple years later while steelheading on the Smith River, i decided to stay an extra week so tried to sell my gold in Cresent City to pay for it. The first place i stopped in, jewelry store offered $100., i laughed and stopped at another down the street that offered a fair price and gave me $400. for my 1 oz+ of nuggets.

Paid about $500, sold for $400, not such a great deal but i got a extra week on the Smith and that was worth it, more important to me than the nuggets.

Now i have a bunch of 1oz silver coins. Should have sold them when Silver was near $20. oz, it's like $12. now. I bought them for $5. Ea.

I have a cousin that lost over $100,000., damn near broke him, in the silver market in the time of a few weeks! Metals are a tough business!

Joey

nuts4bucks · Apr 23, 2009

my brother-in-law bought 30 1oz. gold coins a few years back for $350 a coin then he sold them last year for $925 a coin he made a $17500 profit thats why people are selling thier gold buy low sell high

dleonard3 · Apr 23, 2009

I've tried.....you can't buy gold coins for $900 an ounce. The're selling for $1100 to $1200 each and there's less than an ounce of gold in a $20 gold piece.

rutnbuck · Apr 25, 2009

I think I should head for the hills again. Thars gold in dem dar hills. AK would be good!! Want to go eel?

Rutnbuck

eelgrass · Apr 25, 2009

rutnbuck, we'll have to go to Alaska because I cleaned it out around here. Here is two days worth of panning a couple weeks ago. From Trinity River in northern Kali.

rutnbuck · Apr 26, 2009

LAST EDITED ON Apr-26-09 AT 08:30AM (MST)[p] well done my friend. I will try and up load a pic of a wash plant I had. Well that don't work Rutnbuck

NVBighorn · Apr 26, 2009

sageadvice · Apr 26, 2009

Eel, that looks like pretty good pickins for just panning. Do you ever set up a small sluice box or the sort?

Joey

eelgrass · Apr 26, 2009

LAST EDITED ON Apr-26-09 AT 06:15PM (MST)[p]Joey, I have a small (3 foot) sluice box that I have used in the past. A person has to be careful these days. A lot of the river is claimed up now. You can pan just about anywhere with out too much trouble but set up a sluice box or start dredging and you might get a visit from the one owning the claim. They are supposed to be clearly marked but aren't always.

I just do it for fun and panning is more fun anyway. I have a home made little hand suction sniper that I get into cracks in bedrock and under rocks that is responsible for most of the color I get. It's kind of a secret though, so keep it to yourself please.

If I could, I would use a D-8 and a backhoe!

Eel

sageadvice · Apr 26, 2009

Eel, 10-4 on the sluice box and where you can set one up.

I've used a small one a few times but it's no fun looking over your shoulder all the time.

I'm a faithful follower of the Gold Prospecting Show on TV. Having Gold bearing streams nearby make the info i learn from the shows even more interesting. I've seen those crack sucker machines, like you use, on their shows and have been interested but not enough to make one. The one you use looks to be smaller in the main tube than those i've seen on tv and some have backflow prevention so you don't lose some of your material. Interesting stuff. At near $1000. p/oz, worthwhile hobby!

Thanks!!

Joey

RACKMASTER · Apr 26, 2009

run your metal detector over a few sucker fish ....gramps always said! don't know what he ment but it had to do with sucking cracks and midnight runs during drought years to steal dirt from them....

Rackmaster