Gold prospecting using a metal detector

[Ben Framed]

Nice piece Les..

[Salvo]

Hi Folks, Les,

Here in the States we have a *big box store*, Costco, selling one-ounce bars for pretty much a spot price of about $2,400 USD today. They won't, however, give refunds.

Also: Here is a good diversionary read:

https://www.assayofficelondon.co.uk/

Sal

[Lesgold]

Lately we have been sharing what we find as we often help each other with the recovery of the nuggets (especially in water) When we go out prospecting, we often come home with similar amounts of gold anyway. It seems to balance out over time. Today, I only found two pieces and my mate Joe ended up with six. Weight wise, I ended up with over 4 grams and Joe had just over one gram. The trip before, I had seven nuggets and he had three. The last few trips have been lucky for me as I have been able to uncover some good pieces. Joe is very good at finding gold and often comes home with larger chunks. We value the experience more than anything else. Having time together in the bush and sharing the moment when a piece of gold is uncovered for the first time is priceless.

Thanks for posting that information Salvo. Hallmarking of gold is an interesting topic. The gold that we find is not pure and contains some contamination usually in the form of silver and copper. In saying that, I have been told that our local gold is some of the purest in the country and averages above 98% in its gold content.

[Terri Yaki]

Hi Folks, Les,

Here in the States we have a *big box store*, Costco, selling one-ounce bars for pretty much a spot price of about $2,400 USD today. They won't, however, give refunds.

Also: Here is a good diversionary read:

https://www.assayofficelondon.co.uk/

Sal

So far I only have one, one ounce gold coin and I can't complain except that I should have bought two that day. Before I bought, I rooted around and came to the conclusion that US troy ounce coins are best for me. Gold bars can be faked, shaved and otherwise spindled and mutilated whereas coins are more difficult to counterfeit and mutilate. Additionally one friend told me that bars constitute an investment, subject to capital gains tax but coins are not. I did not verify that claim but overall, coins just made more sense.

[Salvo]

Hi Folks,

When I was very young, in grammar school, I was told that the lines around the coin were "evidence of a whole, untampered with coin". Filing around the coin would grind off the lines. Don't take it.

Also, in movies you see old codgers biting the gold coin. That would put their teeth marks on it in case it was stolen, OR, like truckers thump their tires to test pressure, The softness of the gold is indicative of its purity.

Nuns were pretty smart.

Sal

[Michael Bush]

US Gold coins are considered legal tender so they are protected from counterfeiting by the Secret Service (the Treasury Department).  Gold bars are not.  You could charge someone selling fake gold bars with fraud.  You can charge someone selling fake gold US coins with counterfeiting and fraud.

[Lesgold]

Another good day out in the bush with my detecting mate. We wore waders and made the effort to check areas that were difficult to detect using our standard attire. The two bigger pieces were found in large pools of water. The size and number of nuggets is dropping away. This is to be expected and won?t change unless we have a large flood come through. We are still extremely happy with the gold that we are finding. Days like this will soon become a rarity.