(Topic ID: 286786)

Precious Metals? Gold, Silver, Prospecting and Collecting.

By phil-lee

3 years ago


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  • Latest reply 3 hours ago by phil-lee
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Post #34 Perspective from a rare coin seller. Posted by Coindork (3 years ago)

Post #86 Amazing photos from actual miner and a great story. Posted by Onwallst (3 years ago)

Post #109 Great power point on gold demand. Posted by ManyQuarters (3 years ago)


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#63 3 years ago
Quoted from v8torino:

40 Bucks a ounce for silver-spot price is kind of the benchmark high I believe is the story.............will research,bought some and really kinda letting The Eagles sit around.
As the Govt. prints more Monopoly money and pandemic hand outs I have heard physical metals will go up in value---We'll see
Thx phil-lee I am in a position to hold-doing well currently-OT at work almost weekly -fortunate at this time-

At $35 for a period of time there is a lot of silver production that will come online. We all have a lot of projects that been sitting on for years. I am a miner. Last year fuel was cheap and prices up. This year fuel much more expensive.

#64 3 years ago
Quoted from phil-lee:

I live in NC and there is a defined gold streak from North to South through the State.
Wish I could give an easy link but every State has an Assayers Office.
Reports on finds in your area are Public knowledge.
Go where Gold has been found in the past and branch out from there.

Most the old timers got the old placer gold. I have been finding new flood gold that has been deposited since the 1930’s. There is still a lot of gold out there. I am always looking for new prospects. South America is another animal. Look for we’re old timers were and where there was not easy access to large amounts of water.

#65 3 years ago
Quoted from phil-lee:

I live in NC and there is a defined gold streak from North to South through the State.
Wish I could give an easy link but every State has an Assayers Office.
Reports on finds in your area are Public knowledge.
Go where Gold has been found in the past and branch out from there.

Usgs is best place to start.

#74 3 years ago
Quoted from Coindork:

While we’re on the subject of mining and prospecting, thought I would share a picture of two nuggets/specimens that came through the office.
The one on the left is California, while the other is Alaska.
[quoted image]

The one to the right from Alaska is close to the source.

#75 3 years ago

Looking forward to the 2021 mining season. Was at one mine all day today. Still too much snow. Went through 6ft deep of snow and got stuck on Can am. Had to go get loader to pull out and clear a path. Trend lately is gold goes down around month end and up the first week of the month. Some pictures over the years.

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#83 3 years ago
Quoted from ManyQuarters:

Cool photos!
They really put into perspective the gigantic machinery, labour, expenses and challenges that go into such a tiny but valuable product. Reminds me of all the above (and below) ground mine sites I've ever worked at...damn hard work!
Now when I watch those gold shows I'm reminded of the chill in my bones, the itchin from billions of blackfly bites, the good, the bad and the ugly camp food (and same goes for the cooks), the copious amounts of swearing and the amazing chopper rides! Then there is the never ending equipment and labour problems. It's a wonder gold isn't at least a million dollars an ounce!
Here's a few from the old 'scrap'book.[quoted image][quoted image][quoted image][quoted image][quoted image][quoted image]

Here is the bigger stuff! The dozer is a Cat D11 and required to remove cab as too tall and go on a 13 axel heavy haul rig. (249,000 lbs) The blade goes on its own truck. Ripper and Cab on their own truck. Blade is 22 ft wide. It will push 96 cubic yards of material in one push using 930hp. One push is as much as 3 D9’s dozers combined.

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#86 3 years ago
Quoted from ManyQuarters:

Awesome photos! Best of luck!
Gold fever...has a real edge to it, no cure and no regrets...lots of adventures and occasional treasures, it's the memories that can't be weighed or measured.

Agreed been doing it long enough got it down to a science and it is a fun living. It is an expensive learning curve the first years as mining is hard and brutal. It grinds you up and spits you out. The education is expensive as no books can show you the current effective methods. I can’t count how many plants I have built or had. Everything is about up time and volume. Late in the year it gets tiring but a few months off and you get recharged and ready to go. Something about getting gold out of the ground that so many have failed doing for decades or centuries. Their machines or dredges are left that show their failure of their hope, dreams and fortunes spent pursuing. It is gold fever! You have to know geology, fabrication, water rights, engineering, logistics, sourcing, methodical scheduling, mechanics, hydrology, hedging, operations, accounting, employee management, equipment operator, negotiating, politics, permitting, and have steady determination. Every property I have mined others have mined but failed. They all did well a long time ago but that is history. Between then no one can make it and they all have failed because they lacked at least one or many of the above. To be successful where other have failed is rewarding. Previous operators always get “investors” and promote their way. When you don’t have any investors you are very careful when it is your own money. You can’t buy new equipment and have to go to auctions around the country and world. I use the southwest airlines approach at each property of using the same model equipment for each task. This allows spare parts. The equipment however requires a strong local dealer who stocks parts. This changes per geographic location. Gold prospecting and mining is not for the weak or easily discouraged. It all starts with the gold pan.
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#93 3 years ago
Quoted from ManyQuarters:

Need to see more of this happening!
(Feb.12, 2021, Kitco News)
"Idaho State House approves bill to hold gold as inflation, risk hedge."

That would be huge.

#95 3 years ago
Quoted from plowpusher:

Such a capitol intense business to keep all that equipment up and running is in itself a major challenge let alone all the other aspects you must have to deal with must be quite stressful . i can see we're a few games of pinball would be good stress relief. Do you mine on shares with the landowners who has the mineral rights or how does that all work on private or public grounds . Thanks for posting all those great pics

I mine on all three. I have BLM leases, own private, and state/municipal ground. You pay a royalty from 5-20 percent. Of course lower the better. 20 percent it has to be really special. On equipment yes it does break. I have extra equipment so we can always do maintenance. I carry 1/3 extra equipment. Have my own heavy haul rig incase I get into a big bind which does happen. If more than 50 percent of your equipment is down, I can do a short term rental if needed. Private land is easier to permit and less time. I would not let public or private be a factor but where is the best gold. Pinball is fun and relaxing. Found a gold rush pinball and had to buy for a friend. Brought it back to life.

#97 3 years ago
Quoted from TigerLaw:

Gosh, your entire post was awesome and those photos were incredible. Thank you for sharing those and being in this thread. Marked as a key post.

Thanks. Happy to post more but don’t want to be hog. Love to see the nuggets and stories. I think all precious metal do really well after COVID-19. That is when people realize printing money has long term costs. Here is a dredge that I followed. It was the most successful in North America. In its first month it did 3200 OZT of gold. Bought picture off eBay ironically.

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#98 3 years ago
Quoted from TigerLaw:

Regarding the brick in your final picture, did you smelt and cast that yourself as well?
I just can’t get over the sheer amount of equipment you have in those photos. How many employees do you utilize? How long does a mine generally last? Has all of your mining been in the US? Do you accumulate other ancillary metals while mining such as silver and copper?

Yes so most of what we get is gold dust. Nuggets are rare in total gold weight volume. We then smelt it. Did that my self. We also have seconds that come off the gold MSI shaker table. The seconds have gold with black sand. At the end of year you will have a few buckets. You use acid and the gold comes out of it. That is where that bar came from. It is usually 2-3 percent of your total production but a nice end of season winter gift. Gold usually has small impurities and mainly silver with it. When you smelt you get the silver and gold to separate. I have found silver nuggets but they are extremely rare. Usually the acid from the rain breaks them down.

#102 3 years ago
Quoted from Jaeg:

This is super interesting to me. I'm curious how difficult is it to get proper permits and permissions needed such as water usage and what if anything do you have to do once a spot is mined out? Do you have to replant, grade in holes etc?

There are different levels of permits. The exploration permits are easy buy really low volume and just for testing. 60-120 days depending on state. You have to post a bond. A full mining permit can take 18 months-4 years. Full permits are broke down by disturbed acreage. You have to post a bond for everything. In certain counties you have to get a special use permit. This can be hard. Every large scale permit has public input at the state and county level. You have to go in front of the zoning committee and then county commissioners for approval. If commissioners vote you down you are stopped. You can appeal to district court. After you get a special use and state reclamation permit you have 30 days to post the bond. Your permit shows your mining plan. You have to reclaim constantly and replant grass or trees. Then you need a air emissions permit. It is a calculation and usually 12-18 months. Depending how close to the River you may need a army Corp of engineers permit. Water rights you need industrial or mining rights. You can buy or lease the water. Depending on the state you have to do engineering and get approval for your substitute water augmentation plan. 6-12 months. You may never get the permit and be stuck with fees. You can run all permits at the same time but have to have local approval prior to getting a state reclamation permit. I have been successful but have also had ones that politics required me to withdrawal or certain things that we could not comply with based on location to structures or neighbors. If you comply with the laws they use to not be able to deny you. That game has changed in recent years, as many are anti mining. This will cause the rise in construction materials to continue. Hope that helps.

#105 3 years ago
Quoted from Jaeg:

Thanks for the detailed response. I suspected it was a complex and costly process that likely will only get worse.
You might have touched on this but what minerals or metals do you get other than gold. And if silver is a biproduct, what ratio is average of gold to silver. For example do you get 10 ounces of gold to 1 ounce of silver.

It depends on the location. Anything I do in Colorado we get aggregate. Alluvial granite rock is really hard. I crush it and sell it by rail or trucks. It is made in different sizes for strength known as road spec. It is put in concrete or asphalt and mixed with lower grade aggregate make road material. Round material won’t “bind” like mine does. I also get silica material used in the semiconductor industry. Silver is a by product. Anywhere between 10 to 30 percent of volume Troy ounce depends on location and source.

In Alaska there is no by products. Cost of operations is usually three to four times higher. You do run 24/7 there but shorter season. You bring in supply’s and material on a ice road in the winter.

It is true it all begins with a pan. I prospect constantly. I use a pan and a gold cube. Next I will “pot hole”, this is where I use a hoe and dig, pan and gold cube slowly all the way to first layer bedrock and I will usually go through bed rock to the next layer. That is the true test. That is usually were I find what the old timers missed. Gold bearing pay dirt is in layers. You have to know what layers to watch and mine. Big boulders are great! It is a natural gold pan. Glacier ancient dams are good also. Never trust outside reports or drill logs. Pot holing only way to really understand. There are many ancient rivers that don’t show above the surface.

6 months later
#247 2 years ago
Quoted from phil-lee:

Closer look at a few US Mint offerings. 2018 Gold Liberty 1/10. Lot of swag comes with a Proof set. This one is 24Kt unlike the American Eagle. Caught this at 285, still offered at 335. Not a very popular coin but I think it should go up a little in years to come since its the first portrayal of Liberty as a Black Woman and collectors realize its significance.
Purchased for my 1st Granddaughter for her birth year.
[quoted image][quoted image][quoted image]
Next is a 2021 Silver Proof set that included 2 extra quarters. Dime, Quarters and Kennedy half 999 silver. Some people break these up and sell the coins separately. Purchased for my second Granddaughters birth year.
[quoted image][quoted image]
Deals from the US Mint are hard to come by so shop wisely.

Those are beautiful. Gold is going to start to run as inflation is real in my opinion.

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