Monthly Archives June 2015

Gold Cradle

gold-cradleAs we continue to talk about placer deposits and placer mining, since this is the method accessible to us hobbyists, we will mention another method of extracting and recovering gold from these deposits.  One of the ways this is done is using what is called a gold cradle, or occasionally a gold rocker.

A gold cradle is essentially a giant rocker, just like you’d imagine a baby being in.  It is mechanical and rocks back and forth and performs the same function as a gold pan, except for it is automated and can hold a lot more earth than a hand held pan.  It essentially is built with a box on rocking horse legs and can be moved by hand, or in the present you can have it mechanically moved by a motor.  It was used to process soil that held gold by washing the dirt off of the gold and letting it slosh out the side, leaving only the valuable, beautiful gold.

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Gold Claims

gold-claimsGold claims are an interesting topic.  They contain gold mines and placer deposits.  What they really are is just a plot of land, but not just any old plot of land.  Gold claims are plots of land that someone has discovered gold on, whether this be in a creek, stream, river, or loose sediment just out in the field.  What happens though is a person stakes claim to the land and they are granted the right to mine on the land exclusively.

A gold claim essentially allows the discoverer the privileged right to have first pickings over the land.  This acts as an incentive for the finder to invest his time (because it takes time to raise money and gather equipment) and the money needed to develop the gold claim.  Of course you can’t just round up the boys and start digging.  Check with the local jurisdiction to figure out exactly what is allowed or not.

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Current Gold Price

current-gold-priceThe current gold price is outrageous right now!  I remember growing up and always seeing gold coins on late night TV informercials and thinking how cool it was, but there was no way I was going to pay something like $100 an ounce!  Are you crazy?  Fast forward 25 years and I’m messing around on forums on the internet and on one of these forums there is this guy who is all about gold for some reason.  He’s yelling for everyone to go ahead and invest in gold.  He said put at least half of your portfolio in gold.

Of course, everyone thought he was nuts.  I was telling my boss at work about this.  He’s a pretty wise finance guy, owning oil fields and business and investing in many types of funds.  He says he’s personally have no more than 5% of his money in gold.  I didn’t know one way or the other.

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