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Peg Leg's treasure found? Maybe, maybe not.......

he found it!..he's got his!..i believe this because what he did is EXACTLY what i would do!
very smart,and now he's home!..i'm happy for him!..damn straight!

(h.h!)
j.t.
 
Hi Katz, The black coating on the rocks and or gold is called Desert Varnish. I don't know all the details about it, but some kind of mineral and the sun bakes a hard black coating on everything on the surface. My great Granddad searched for many years for this lost gold of Old Peg leg. He found a few nuggets in the many years he spent looking and they had the Desert Varnish on them. No I'm not claiming he found the Peg leg gold in fact I have more gold in my crown than he ever found but, it was enough to keep him looking for many years. The nuggets would have to be on the surface and only the top side will be dark brown or near black. The gold is not black just the coating. Great Grandpa always believed he was just one hill away from finding the big strike. I have a feeling that Peg legs gold is just wishful thinking. There may be some gold out in that area even a small eluvial placer but there is no great amount or huge deposit to be found. I think it is like the Lost Dutchman it will never be found because it was never there. JMHO.
As they say Gold is where you find it, but it has to be there.
CH
 
Now that's interesting because I was just on Google and could find nothing substantial about it.

So your saying this alleged treasure of Peg Legs was all surface gold? It sounds to me like whoever
decides to look for gold in that area should not confine himself to looking for just black rocks.

I've never gold prospected before but it seems to me there must be some geology connected with
this area of the Salton Sea that would or could give an indication of the most likely
place to search for gold in general, including Peg Legs treasure. I suspect thats already been found though.
On the other hand maybe not.
Katz
 
I have trouble believing he worked his hands raw over seven nuggets. He does tell a good story, with detail. As for keeping it to himself, think about how hard that must have been. Is the guy a loner? Does he have family? Friends? He did say he quit his regular job, and also explaines why he only visited twice a year. Look at what started the California gold rush, and the stampede of people it caused, and the fortunes and misfortunes of many individuals. Speed is measured with a speedometer, distance with the odometer. Did he spray paint the stones he used for markers every 50 ft. ? Thats 211 stones over the course of 2 miles. 720 ounces is 45 lbs, thats a nice round number. The guy only netted 20 grand, I would say that is not even close to what he should have gotten, even 10-20 yrs ago. Even at only 70 percent gold. Thats still 31 1/2 lbs of pure gold,or 504 ounces. Did he go 2 or 3 times a year ? What year did he discover this, and what year did he write the story ? Was it in 2000, or earlier ? To get $314,650 in gold, if he sold 504 ounces all at once the price would have been around $624.30 an ounce. So, his story seems very likely to be true. I just can't get over only getting $20,000 for 720 ounces of 70% pure gold, or 504 ounces of 100% pure gold. That's only $39.70 an ounce, What year was gold selling for that price ? I am happy for that great story teller ( I mean treasure discoverer) but I still think he should have gotten more than $20,000 for 31 1/2 lbs, 504 ounces of pure gold. Ron
 
Theres more out there from where that came from.I want my gold back ! LOL:biggrin:
 
I would be more convinced if the author had provided pictures of the gold or a video or something. I also would have thought that he would have filed a claim and went after the gold with much more vigor. Good story and I wish him the best
 
If I came accoss that treasure my lips would be sealed.:happy::)
 
Thats like if you have a prime detecting spot no one knows about are you going to blab it to everybody? heck no he did the right think
 
If you believe this story I have a Brooklyn Bridge I will sell you. The tip-off is his transporting and the selling of the gold to stores in Alaska. Airport metal detectors were in abundance at the times he went to Alaska. Try hiding all the gold on a flight to anywhere! Not! The story would have made National headlines after the Feds got done with the guy and all that gold. Secondly: The selling of the gold in Alaska? Shops and any prospectors worth their salt would weigh the gold and willingly pay somewhere near the unprocessed price of 75-90% per ounce for it unless the discoverer of Peg Legs gold is totally stupid and gave it away for pennies on the dollar? Another fact to consider is that large nuggets are specimens and worth much, much more as such. To authenticate the discovery he could take 5-10 of the uncleaned nuggets and meet up with Tom Massie of the GPAA where the story as told might hold "some" water. In the meantime believe what you will and by the way, ................... I still have this bridge for sale!
 
That article has shown up before its old hash,Iv'e read it before,oh well
 
This article came out in "Desert Magazine" in the late 1950's or early 60's. I still have the original copies of the magazine.
 
[size=large]Is there any water running under the bridge? i wouldn't buy it with-out water. maybe the same water this story is trying to hold.

:crylol:[/size]
 
[size=large]i went back to the link and read the story. it was great. true or not the story was great. reminded me of the hope i had as young kid of ever finding the lost dutchman. i really loved that story too. it's kinda like the stories on this site of finding old coins and such. gives the newbies, like me , hope in finding our own. better chance of that than the finding of the "Peg-leg or the " Lost Dutchman".

HH all [/size]
 
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