With the price of gold and silver, metal detecting

[steve from ohio]

will be a good way to make money. Look for more and more people metal detecting as the price of gold and silver gets higher and higher. That will mean more people looking for lost gold and silver.

It may actually be possible to make a living metal detecting! I have already met a few unemployed people out of the beaches with metal detectors trying to make ends meet.

That metal detector could pay itself off in a very short time with the prices of metals rising as they have been.

I also see a new gold rush out in the western states as people who cannot find work need a way to make some cash. The popularity of TV reality shows like Gold Rush Alaska and some of the Outdoor channel's gold prospecting programs are proof that there will be a repeat of the Gold rush of 1849 if prices keep rising.

Your metal detector may very well be a very good investment and your abilities with it could be financially rewarding.

 

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[CTRAP]

sure, look at the price of copper and how that went up and now they strip it out of houses all over here, urban,subs or rural, don't matter.
difference is you do need to buy a detector. Or I guess in there case, steal one.
Thiers a reality show for ya, Copper thieves..

 

[LM]

I don't know much about gold prospecting, but there's just no way anyone's going to make 'a living' with metal detecting for random, lost stuff.

The places to hunt are fewer and fewer, those that are available have been hit hard over the past decades (which means that most of the old silver coinage is gone) not to mention the buying power of the dollar has been weakened so badly that the clad you do find hardly buys anything meaningful... I can't imagine anyone is better off wandering around with a metal detector versus working at McDonalds flipping burgers for $7.50 an hour. Your accumulated hourly rate is probably much higher at the Golden Arches.

If you're down to the point where you're wandering around with a metal detector to try and feed your family, you should probably sell that metal detector and go get a second job.

 

[steve from ohio]

I don't know much about gold prospecting, but there's just no way anyone's going to make 'a living' with metal detecting for random, lost stuff.

The places to hunt are fewer and fewer, those that are available have been hit hard over the past decades (which means that most of the old silver coinage is gone) not to mention the buying power of the dollar has been weakened so badly that the clad you do find hardly buys anything meaningful... I can't imagine anyone is better off wandering around with a metal detector versus working at McDonalds flipping burgers for $7.50 an hour. Your accumulated hourly rate is probably much higher at the Golden Arches.

If you're down to the point where you're wandering around with a metal detector to try and feed your family, you should probably sell that metal detector and go get a second job.

Yeah you are right. I kind of feel for those guys on the Discovery channel that went up to Alaska looking for gold. They were mostly unemployed guys who were looking to make it big and spent everything they had to do it.

There are some folks who do pretty well right now with metal detecting when they do it every day and detect areas like the beaches and oceans where people vacation and swim. Last year in Florida I found enough rings to not only pay for my 4 week vacation, but also to pay for my gasoline bill for two months and it was fun.

Of course if I had to do it every day and depend on it, it may not be fun any more and be more like flipping burgers at Micky D's.

 

[Yellowhouse]

As said couldn't be done. However, it might be a way to convince the wife you gotta have one or need the newest model.

 

[Frankn]

As far as the gold shows, most of the viewers are probably dreamers. With the high value of gold and silver it does look promising until you look around and notice the cost of doing it is also increasing. The cost of food, fuel, vehicle maintains etc is also skyrocketing. The cost expence difference will probably cancel out. That is unless you are a cache hunter, then the whole picture changes. Frank

 

[Daedalus]

I worked with Oil and Mining companies for most of my life as an Engineer , and I can say that most have no idea how hard it is to mine and to make a living at it.
Can it be done Yep . But it would be hard to do this and support a family in till you happened to find a producing area .
And another thing is just sense the time that I started the Laws and Regs that the Government has come out with are to the point that you will have to be a large Company to be able to run a mining claim . Now this may not apply to all states but most it does .

One thing that we saw was when some made finds of good ore it was not long before the Government came in and made the area a National Reserve area and with that their was no more new claims or mining . Or the paper work drove most out as it cost to much to maintain , and then you had a Tax on what was produced as they stood there with there hands out wanting a cut for them .

 

[mlayers]

I beleive you could make a living out of this. If you do this right. I always do pretty good when I go on vacation and I only hunt a few hours each day. I could get used to being on the beach 4 or 5 times a week. Maybe after I hit retirerment age I will let you know if you can do it for a living......Matt

 

[LM]

This is funny, as a friend of mine and I were *just* talking about this- about being able to MD and exceed the hourly rate of a minimum wage employee. I'd bet my own average hourly rate is probably a good bit higher than any random person who wanders around the same few parks every weekend- I'm very selective about where I go and not afraid to get into water over my head to find stuff either- but there's no way it adds up to a suitable 'living'. Also, many of us have been doing this for quite some time and are experienced in terms of scouting sites, knowing our machines, etc- a desperate beginner trying to 'make a living' isn't going to have a clue.

I'd be up for an experiment, if anyone wanted to try.

This summer, lets pick one month. Say, July. We get 10 or 20 guys together to each agree to MD'ing for 10 hours per week, adding up to 40 hours total during that month and posting their tabulated results here.

We add up our total finds and from them, subtract our total expenses (mostly fuel and some sort of realistic mileage rate). Divide that figure by 40 and see how many guys come out ahead of 7.5. Chance dictates that someone is going to find a decent gold ring, etc and probably approach it. Human nature also dictates that some will be dishonest and pad their figures. Still, it would be a very interesting experiment to determine if the possibility is worth investigating any further.

Anyone up for it?

 

[Lowbatts]

There was a time, as LS points out that this might have been possible. Carnie season around the corner but these days, those are feeble sites. I've pulled 30 bucks an hour from carnie sites in the past and that was without the digging.

Used to be on the carnie sites at sunrise, Monday morns as they pulled stakes to move on. Some weeks I could hit three or four carnie sites and festival sites within 5 hours on a Monday morning.

But somewhere late 90's that all started to go away rapidly. Rising insurance costs bring up the cost of carnies. Drives down visitors. Pre-sold tokens and tickets take the place of coins more and more.

Aside from that, it was good for Monday mornings only. By Tuesday, others hit most sites and the goods at the good rate were definitely gone.

These days a lot of the sites have that Tuesday look Monday morning.

In my best year, if I could replicate Monday morning 5 days a week, I'd be well ahead of that Mickey D payroll by a 3 to 1 margin.

Today I agree, you couldn't meet the Mickey D payroll at almost any site.

As of now I'm only gonna hit about 6 carnie/fest sites this year, just the ones that meet the gas/grub and battery cost return potential. Little use in chasing clad if it doesn't meet the cost.

Better to enjoy the act/art/hobby of md'ing looking for the oldies that remain and the high-probability bling sites.

 

[S.S.Tupperware]

You would be better buying a lottery ticket... I've paid off both my MD'S, but I would be happy to make property taxes this year, but it ain't gonna happen!!! If ya live in a tent and eat beanie weenies every night (one meal a day) and don't need clean underwear, go for it...

 

[mlayers]

Just let me know when you want to start. I will keep track of my hour and finds. I let you know how I do......Matt

 

[LM]

Just let me know when you want to start. I will keep track of my hour and finds. I let you know how I do......Matt

We should do it Matt. It would be really fun and give me an excuse to do a lot of land detecting this summer

I'll go ahead and post a dedicated thread. Lets make it for June, since that's enough lead time to get some people on board.

 

[mrwilburino]

The increase in silver and gold prices will likely to lead to a lot of "barely used" metal detectors hitting the market.

 

[mlayers]

June will be good for me. It is warmer around here and I will be able to hit some beaches also......Matt

 

[Automedon2]

<Yeah you are right. I kind of feel for those guys on the Discovery channel that went up to Alaska looking for gold. They were mostly unemployed guys who were looking to make it big and spent everything they had to do it.>

That was the story line, but in reality, the show was scripted. Todd and Jack Hoffmann were paid for their part, Dorsey was getting a grand per episode (according to his blog). I don't know about the other guys got, but they never lost their houses and are all coming back for season 2. The real background story about the show is more interesting than the show itself.

 

[lookindown]

It took me a few episodes to realize they didn't need to find gold, they were getting paid to do the show. Just like the guys from Deadliest Catch got rich and famous, although they were making good money before the show.

 

[LM]

although they were making good money before the show.

Some of those full share deckhands were making tens of thousands of dollars per trip. Unreal.

 

[lookindown]

although they were making good money before the show.

Some of those full share deckhands were making tens of thousands of dollars per trip. Unreal.

They were earning every dollar. I aint that tough. I'd like to say I could handle it, but I'd be lying.

 

[BlueDuck]

You would be better buying a lottery ticket... I've paid off both my MD'S, but I would be happy to make property taxes this year, but it ain't gonna happen!!! If ya live in a tent and eat beanie weenies every night (one meal a day) and don't need clean underwear, go for it...

You priced Beanie Weenies lately?