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Can you make a living?
- Thread starter sammyd
- Start date
Mike Hillis
Well-known member
Some say no. Some say maybe.
I'll go hunt up my old post and repost it. Easier that typing it all out again.
HH
Mike
I'll go hunt up my old post and repost it. Easier that typing it all out again.
HH
Mike
Terry Soloman
New member
When I decided I wanted to prospect for gold professionally, I spent a year writing a business plan. In order to pay for two ex-wives, five children and four grandchildren, I figured I needed a crapload of money. I was making $97,000.00 a year as a Respiratory Therapist, and another $20,000.00 or so a year doing consulting jobs on the side at the time, so just up and quitting to go gold prospecting didn't make a lot of sense. Long story short, I found a way to do what I love to do. But now, instead of intubating a victim in an Emergency Room during the week - and gold prospecting in my spare time, I give talks on gold prospecting and meteorite hunting, spend hours on the phone with metal detecting and equipment manufactures, reps, advertisers, sponsors, clients, reporters, my liability insurance guy, my helicopter pilot, the accountant, answering emails, writing reviews and articles, riding herd on my employees and gold claim owners, yadda-yadda-yadda! Oh, and sometimes I get to go out and prospect! If you really want to do something - you can! But sooner or later your job still becomes your job. The key is to find a way to make enough money to quit working while you are still young enough to go walk the beach with an electronic stick whenever you want to. I can't wait to get THERE! - Terry http://www.TerrySoloman.com
I have a retired friend who actually does metal detect year round (he goes south for the winter). By hunting an average of 6 hrs. a day, 6 days a week he has found over $2500 (face value) just in coins alone (incl. silver) each of the past 2 yrs. and that doesn't include all the rings and jewelry he finds. When figuring in the total probable value of all his finds, they probably would come to maybe $4 or $5,000 depending on the value of his rings and jewelry. Definitely not enough to live on, but more than enough to pay for his motorcycle's gas and by the way he only hits the beaches in the winter time.
You make it seem so hard. You don't need to be single or even of good character....your not going to work abroad, your going to detect. Health always helps (I've been hardly able to walk for the last week having pulled a back muscle), but its easier to detect than do a ten hour a day, six days a week job.
If your going to try to make a living then you should already have the equipment and the proof that you can cut it, as you say articles/photos of finds.
Then just pick a country that will allow you to keep your finds or a large percentage. If they operate some form of treasure trove law then you have no worry about disposing of finds, the State will keep the items and pay you the value. Very important, operate where your not going to be taxed.
When traveling if going abroad you have to be able to stay long enough to enable you to recop the travel cost. This could be one or two months. Finally you have to save money rather than find it. I can travel to the States and save up to half the cost of a new detector. Hungary and the other ex Communist countries and save up to 75% on dental and medical costs. Research tends to be a waste of time. If you can do it, the people where your going will have already done it.
If your going to try to make a living then you should already have the equipment and the proof that you can cut it, as you say articles/photos of finds.
Then just pick a country that will allow you to keep your finds or a large percentage. If they operate some form of treasure trove law then you have no worry about disposing of finds, the State will keep the items and pay you the value. Very important, operate where your not going to be taxed.
When traveling if going abroad you have to be able to stay long enough to enable you to recop the travel cost. This could be one or two months. Finally you have to save money rather than find it. I can travel to the States and save up to half the cost of a new detector. Hungary and the other ex Communist countries and save up to 75% on dental and medical costs. Research tends to be a waste of time. If you can do it, the people where your going will have already done it.
JimGilmore
Active member
Making a living definetly has a lot of meanings.....
You go to every bus stop,and hit all the parks and school yards you might make enough to live in a van or smail motorhome if you minimize your driving costs...
But own a home and raise 2.3 kids and medical expenses and all no way.
I'm not saying that if you live in the right location that you could not survive or even profit. I'm just saying that there are very few whom could do it.
There was a couple in Los angeles that made he news one day because they were making about 3-4 hundred a week on bottles and cans. But the more that do it the less there is to go around. Same with detecting.
Yes the coins do eventually build up agan, But once a spot seems good everybody else joins in. Soon enough you'll need more spots.
It is a nice dream but not likely to happen for most.
You go to every bus stop,and hit all the parks and school yards you might make enough to live in a van or smail motorhome if you minimize your driving costs...
But own a home and raise 2.3 kids and medical expenses and all no way.
I'm not saying that if you live in the right location that you could not survive or even profit. I'm just saying that there are very few whom could do it.
There was a couple in Los angeles that made he news one day because they were making about 3-4 hundred a week on bottles and cans. But the more that do it the less there is to go around. Same with detecting.
Yes the coins do eventually build up agan, But once a spot seems good everybody else joins in. Soon enough you'll need more spots.
It is a nice dream but not likely to happen for most.
A fellow named Karl Von Mueller addressed this issue before he died. Basically it consisted of having a "moonlighter's" mentality such as adding a sideline consistent with your skills and making use of this as you hunt. Body work on autos, lawn care, dumpster diving, etc.
Instead of making a living in the traditional sense, a person would have to make it a lifestyle. As UKBrian and Terry Solomon pointed out, Slingshot's post referenced this. When I trapped, thats what happened. I wound up working for the farmers and ranchers when they needed an extra hand, for barter or cash, cut wood for a doctor, so the wife and daughter had medical attention when they needed it, all the while preparing for the brief trapping seasons. It was a subsistance lifestyle, and we have some great experiences, had no debt, but didn't have any money put aside, or any kind of security except what each day brought. Metal detecting can be done throughout the year, so I would have to say YES if a person made this their lifestyle. Good luck to those that do!