Where have you found Gold?

[Todd S]

Heh all,

With the stock market plummeting, retirement funds evaporating, and the beginning recession or depression, I thought I would sart a new thread for discussion. I expect gold will soon start a huge climb, and us being metal detectors and all, why not start an intensive search (like we all haven't been trying to find those gold rings anyway!). The more gold rings I can find the better! At least that will be a guaranteed retirement fund that shouldn't evaporate!

So, let's start this thread with a description of where you have had the best luck finding gold rings/jewelry. My guess from reading other forums is that beaches-in the water is probably by far the best place, so let's just all assume that is number one. Let's stay focused as much as possible out of the water.

I started detecting about 7 months ago, and have found two 14 k gold rings, and one diamond 18 k gold pendant. One I found by the baseball diamond of an old school; one I found near the picnic area of an old city park; and I found the diamond pendant ring at an old park as well near a picnic area with some old trees.

 

[Daniel A.]

First and foremost Todd this is a hobby not work but I'll go with your view based on fact so here they are.
This year to date I've put in 384 hours hunting
clad to date this year is 1072.91
Gold melt value is 818.36
Silver melt value is 79.55
Total 1970.82

The hobby does pay for itself even looking at equipment cost & gas. One ring was appraised at 2250.00 another chain I'm sure would get more than melt as would one other ring. If we were to go out on a limb and call it 3000.00 total that's really good for the season so far but I don't think its time to give up the day job yet.
Now I do have some years into this game/hobby I think that speaks in the numbers above and I do plan on being retired in 2010 with a fairly good pension.
I feel bad for anyone in 401s or working for companies that have not funded there pensions properly and do know a number of people watching there savings drop 30-40% but it will shake out just may take a couple of years.
Its watching the millions being put in the pockets of the top people as they walk away that I have a problem with. Dan

 

[GRAY GHOST]

hey todd, that's a good point you've brought up. since i don't live near a beach, i tend to find the occasional gold ring or silver necklace like most people do. the "experts" are still predicting that gold will hit $1500.00+ an oz. within the next year, and maybe more. of course, silver will follow, perhaps hitting $100.00+ an oz. silver is still undervalued, with more being used than is mined. i'm hanbing on to what little i have. better days are ahead.

it looks to me like some sharp investors have penetrated the rare coin markets, driving the prices up. the same can be said of the relics and old jewelry markets. there's been a definite shift to tangibles like gold, silver, old jewelry, pricey relics, and coins into portfolios from coast to coast. well heeled russian investors are buying up better grade barber dimes, quarters and halves like there's no tommorow, further driving up prices across the board. and all of this is in the interest of diversifying their portfolios. not a bad idea.

as fuel prices continue to rise, so will gold values. the two commodities are strongly tied into one another. but, the oldest question still remains... when should we sell? well, that's a good question. i'm hanging on to what little i have, and let it appreciate at it's own rate as gold, as opposed to selling it for fiat currency and getting almost no return from that. sticking currency into a typical savings account and getting 3% interest for it is not my idea of a good time or a good return.

gold and silver have long been considered excellent hedges against inflation. so, yeah, i'll continue to look for that first gold piece this weekend! woohoo! great and thought provoking post, thanks for reading, just my two cents, and hh,

 

[Beale]

Well I have only found 2 pieces of gold. A 22K ring I found in a tot lot and a 10K Diamond chip ring. I found that one in the front of a school, Beale.

 

[dobbie]

that was found at a park in the tot lot.

 

[willy]

Well, there's still plenty of hope. I know of at least 2 people that are/were full time detectorists and did pretty darn well. The big thing is to keep at it and LITTLE OR NO DISCRIMINATION!! That includes notch. ..Willy.

 

[jim tn]

I average about 8 gold items a year land hunting and have since I started with this great hobby back in 1972. Parks have been the best yielders for me, particularly those with open spaces where people can run and play. Sports fields might well be the best places, but some are off limits for digging. Tot lots and school yards are great places for finding silver jewelry and once in a while, a piece of gold. If you are finding good numbers of nickels with your machine, you will find some gold. To find any decent numbers of gold, though, one must dig some foil and tabs, as well. HH jim tn

 

[dobbie]

n/t

 

[montanagold]

Having been a prospector first before getting into coin shooting, I would have to say if its gold you seek get into the hills. Find some open ground or join a club. a hundred dollar sluice box goes a long way. Nugget hunting is fun with a detector, but if you want to find gold on a consistent basis the fine stuff is where its at. The nugget in this picture on the bottom in the middle is a bush button I melted myself from all the fine gold i recovered over a summer. Its 5.1 grams and would probably fetch a couple of hundred dollars or more and I'm working on my next one. Its fun to sit next to a stream and sluice enjoying the outdoors, its my favorite way to look for gold. metal detecting is a great hobby but sometimes you need to break away and check out some other opportunities in treasure hunting weather it be panning, dry washing, antiquing or even digging in an old dump site. Its all rewarding and fun because in treasure hunting the fun is never knowing what your going to dig up.