Category Info

Peak Gold

peak-goldPeak Gold is a concept, which is accepted as fact by most geologists, that talks about the total amount of gold encased in the planet.  Once we reach the halfway mark, which is to say that production has reached its maximum rate of extraction, then there will be a decline in gold extraction and production as it will become more rare to find and work with.

This decline in the production is not a temporary phenomenon.  It is terminal.  There will eventually be no more gold left to be found by anyone, and especially by us small timers.  This whole idea comes from an economical idea called the Hubbert peak of any commodity or resource.  Luckily, unlike some resources that are destroyed when they are consumed, gold is recycled and reused.  Once we extract all of the gold, we will still have all of the gold, although it is likely to ultimately end up all locked away in some government facility.

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Gold Panning Supplies

gold-panning-suppliesWe’ve talked about gold mining equipment for some of the bigger jobs, but what about just the individual hobbyist going down to the river to do some relaxing panning?

What kind of things does this person need, besides come good cold drinks and snacks and dry clothes?  Let’s take a look at the various gold panning supplies.

Immediately, the first thing that comes to my mind is a digging tool, as in some kind of shovel, gold pick, rake, and more.  You have to be able to shuffle the dirt around and pick it up.  That’s key.
They make these things called sand scoops that will help you pick up the sand.  You are also going to also need gloves or you are going to end up with blisters.  I’d go ahead and get long sleeved rubber gloves so that they are waterproof.

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Gold Mining Equipment

gold-mining-equipmentWe’ve talked about a whole bunch of different methods of mining gold up to this point and have mentioned the various types of machinery involved.  But that’s not the whole story.  There are lots of other accessories you will want if you are going to maximize your efficiency and safety when mining gold.  There’s a lot of gold mining equipment to consider, so let’s get started.

For big time mining jobs, we are obviously going to need large drills, bucket lifts, dump trucks, bulldozers, and more.  This is for the large companies digging caves and mines and shafts.  I’m not really going to focus on that because it’s really outside of the scope of what we as individuals will probably be doing.  Even a small team can’t get the funds together for all of that.

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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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