Thinking of prospecting for gold full-time, need serious advice

[firebird]

I've gotten so obsessed with gold now that I'm literally having dreams about it almost every night. Can't believe I lived all this years here in California not realizing there was gold only an hour away in the Sierra Nevadas. Almost every single free day I'm not working I spend going out just shoveling gravel and taking it back home but even with all the hard work the best I've gotten is just around 0.5 grams a day so it's not exactly profitable. But still, I love it so much, never felt this alive in years just being out there with myself(and the pooping bears). Even with all the backbreaking labor and dangers I feel so happy that I now seriously think I could do this for the rest of my life and never have to wageslave for someone else ever again. Plus I have enough money saved up now that I can survive for several years and not have a job.

Realistically though, can I actually find enough gold to do this full time? If I start buying claims that would be richer than public areas, how much could I really pull out of the ground working without any machinery and just shoveling gravel manually? I'm only 34 right now too so I'm still young enough to rough it out there and work the entire day. Should I also have to worry about the law if I buy a claim and do this full time, just living on it with a van? At the bare minimum I would be just fine with getting $500 a month worth of gold. Serious advice would be welcome, thank you.

 

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[OwenT]

I haven't tried it yet but I would say that if you take a hobby you love and make it your work it might be great or it will just become work and lose all the fun. I know everyone here including me at least thinks about be able to find gold the rest of his days but I think some dreams are meant to stay dreams. For me, going out is about the adventure and the unknown, what you might find, but by the end of a long day I'm tired of dirt and rocks and I'm ready for my bed. Not sure how long I could keep it up before I get sick of it. Of course if you found that amazing stash full of nuggets you'd never get tired, but it's real easy to get discuraged when you're not finiding anything.

 

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[CGC Miner]

$500 a month in gold is doable in 7 of the lower 48 if you have the proper knowledge, access to ground and equipment.
With small scale, hand mining, the problem is, the minute you have to find gold to survive, pay your bills, eat etc. it takes all of the fun out of it. After a few weeks there is no way you will be productive mining by hand for more than 4 days per week (unless you hit some crazy good ground and work yourself to the bare and nutty bone). With gold prospecting, always error on the realistic and low side to be safe.
So in the 3-5 factored days (bad weather, injury, breakdowns etc.) of mining per week you would have to find 3.5+ grams of gold per week to just barely scrape by.
But you only live once...
You've got a dream... go for it. No regrets!
Plan ahead and make it happen.
Try it out.
Take the summer off while you still can. Go live in the woods n find some gold. 3 to 4 months should give you a pretty good taste of the life.
Who knows, you might love the solitude n simplicity or get lucky!
Cheers

 

[Goldwasher]

$500 a month in gold is doable in 7 of the lower 48 if you have the proper knowledge, access to ground and equipment.
With small scale, hand mining, the problem is, the minute you have to find gold to survive, pay your bills, eat etc. it takes all of the fun out of it. After a few weeks there is no way you will be productive mining by hand for more than 4 days per week (unless you hit some crazy good ground and work yourself to the bare and nutty bone). With gold prospecting, always error on the realistic and low side to be safe.
So in the 3-5 factored days (bad weather, injury, breakdowns etc.) of mining per week you would have to find 3.5+ grams of gold per week to just barely scrape by.
But you only live once...
You've got a dream... go for it. No regrets!
Plan ahead and make it happen.
Try it out.
Take the summer off while you still can. Go live in the woods n find some gold. 3 to 4 months should give you a pretty good taste of the life.
Who knows, you might love the solitude n simplicity or get lucky!
Cheers

More than $500 easy

 

[N-Lionberger]

I am self employed and the finding of gold contributes to it but by no means covers it all, this year I am planning on hitting it harder then ever before.

 

[Bonaro]

I run a Gold Mining Guide Service and I make a reasonable profit.....for about 3 months a year. The other 9 I make zero.
You can make a sustainable living at being a miner but the work is back breaking and the income is seasonal. You also have to calculate your overhead and deduct that from your gold sales.
I dont know how much digging you do to get .5 grams a day but if it's more than about 30 minutes, you can make better money flipping burgers.
Considering overhead expenses and labor required, I would consider about 1oz. per day to be the break even point.
However, it is FUN, isnt it?...it all depends on where you dig

 

[gold tramp]

Why does it always have to be about money ? Me I do it because I love mining, it wouldn't matter if I only found a mosquito eyes worth, I still chase n dig the rock.
Gt...

 

[ratled]

Why does it always have to be about money ? Me I do it because I love mining, it wouldn't matter if I only found a mosquito eyes worth, I still chase n dig the rock.
Gt...

Prudent man rule........

 

[gold tramp]

Prudent man rule........

That's for mining claims.
Gt..

 

[Goldwasher]

Hmm. If your doing it for income...How is it not about the money? i do it for the money...and pretty much because I have to..can't help it. I'm stuck in my ways.

I know a few guys who do it "full -time"

As in their only income. They do jus fine. they are single and gone all the time. Not an option for me.

I know quite a few like me who put them selves in the situation to make it one hell of a "supplemental" income.

I bought My house where it is. To get close to good claimable gold.

I do not spend more on it than I make from it. Its paid for all of my gear.. for years now. I did not pay cash for my SDC.

With four kids . Three going to school in three different places. I get pretty busy. Childcare is insane. So, we aren't gonna pay for that. Town is fifteen miles away.

I do just fine and do better the more I dig. thats how it works. the more time you spend the more you will get. Have time for the garden, Animals. And raising a small tribe. Plus hitting the claim at least four days a week makes for long days.

If my only option was gold. The kids would live in a hut.

That does not mean it isn't a viable way to make money and add to a household.

My wife is fully on board. Now that my store is closed.( it was an attempt to sell more gold ..but the overhead wasn't worth it). Face to face sells and collectors make for a good premium. I'll have my first year of " full-time" mining since the dredge ban. Gearing up to start crushing quartz. And bring in some "light" heavy equipment.

So, placer wet season...detecting in between... sniping the forks once the flooding subsides... crushing quartz when the waters gone...Push and scrape summer.

The only aspect with any real cost is the push and scrape.. fuel and equpment maintenance. The dozer is owned. It's a cute little guy perfect for Oaky Hillsides

Crusher is going on a trailer. It's in the works now. We'll have to sleep there while we have new ground open. But, at least its not miles from home.

We will most likely transport the milled material back to my place for processing. I'd rather carry dust than rocks in buckets.

I'm really looking forward to it.

 

[Johnnybravo300]

I try to use high water time in the spring to get my firewood ready the upcoming winter. That way I can get out there soon as possible to the spots I want to check and gives me a better chance for good samples. I feel better when my wood is done and I can concentrate on the next task.
When the run off happens here around the divide the creeks are deep and dirty and dangerous. I can sometimes hear rocks rolling along the creekbed and sometimes feel the vibrations up on the bank. Not somewhere you want to wade in with rubber boots and a heavy pack haha.
It's funny how we use every season to our advantage to get SOMETHING done towards the gold.
Winter is when I read all the cool mining books at the gunnison library and daydream and do research for future prospects.
We moved to a new place a week before the snows started so I'm working on my firewood during the winter this year. It's been a real task at 42 inches of snow so far but its warm work and the winter sun can be real nice when it's out. Sometimes it's an adventure whether I want it or not.

 

[oneguy]

I try to use high water time in the spring to get my firewood ready the upcoming winter. That way I can get out there soon as possible to the spots I want to check and gives me a better chance for good samples. I feel better when my wood is done and I can concentrate on the next task.

EXACTLY...!!!!! Got 80% of next years wood in last summer and have a few trees already scoped out to cut next spring over where I scratch around in summer. I'll grab on the way home from prospecting/digging next season, 2 birds-1 stone...…….. more scratching time!!!!!

 

[mendoAu]

...............if I got an ounce a day I'd buy a new 4Runner.........but it's true about the enjoyment level. On average (don't tell BLM) I probably only mine half the time, the other half is just doing stuff that needs done. Like this morning helping my neighbor pull his car back on the road. He got lucky, another three feet and would of tumbled a hundred feet straight down the cliff, just another day in paradise.

 

[OreCart]

Hmm. If your doing it for income...How is it not about the money? i do it for the money...and pretty much because I have to..can't help it. I'm stuck in my ways.

I know a few guys who do it "full -time"

As in their only income. They do jus fine. they are single and gone all the time. Not an option for me.

I know quite a few like me who put them selves in the situation to make it one hell of a "supplemental" income.

I bought My house where it is. To get close to good claimable gold.

I do not spend more on it than I make from it. Its paid for all of my gear.. for years now. I did not pay cash for my SDC.

With four kids . Three going to school in three different places. I get pretty busy. Childcare is insane. So, we aren't gonna pay for that. Town is fifteen miles away.

I do just fine and do better the more I dig. thats how it works. the more time you spend the more you will get. Have time for the garden, Animals. And raising a small tribe. Plus hitting the claim at least four days a week makes for long days.

If my only option was gold. The kids would live in a hut.

That does not mean it isn't a viable way to make money and add to a household.

My wife is fully on board. Now that my store is closed.( it was an attempt to sell more gold ..but the overhead wasn't worth it). Face to face sells and collectors make for a good premium. I'll have my first year of " full-time" mining since the dredge ban. Gearing up to start crushing quartz. And bring in some "light" heavy equipment.

So, placer wet season...detecting in between... sniping the forks once the flooding subsides... crushing quartz when the waters gone...Push and scrape summer.

The only aspect with any real cost is the push and scrape.. fuel and equpment maintenance. The dozer is owned. It's a cute little guy perfect for Oaky Hillsides

Crusher is going on a trailer. It's in the works now. We'll have to sleep there while we have new ground open. But, at least its not miles from home.

We will most likely transport the milled material back to my place for processing. I'd rather carry dust than rocks in buckets.

I'm really looking forward to it.

I am about the same way, just a bit different in that I Farm/Log/Gravel. I would not mind adding a quarry to that if the assay comes back good.

Like you, I have four daughters as well (5, 12,13,14), equipment, and just love the freedom having "retired" two years ago at age 42 from being a welder at a shipyard. I do as much as I can for myself, which means building a lot off my own equipment, and paying cash for everything. Overall it is not how much you make, but how much you spend in life.

The only things that have hit me hard that I did not plan for, was property taxes doubling these last few years, and then getting cancer for two years of the three years since I left the shipyard. It has been a struggle, but really...is struggle all that bad? "Perseverance builds integrity, and integrity builds character" says the big black book with very thin pages; the foundation of my life.

 

[firebird]

Thanks for all the advice guys. I know I'm still a newbie at all this and have so much more to learn, so I won't do this right away and will join a local prospecting club to learn more. But reading about how many of you are pretty old now really hammers the need for me to do this ASAP, I feel like I really, really need to do this while I'm still younger and have the health for it.

 

[IMAUDIGGER]

I mentioned using your nest egg on a down payment on some gold bearing land (for a lifetime of prospecting) rather than wasting it in food and living supplies for a couple summers.

There are people that buy unimproved land for the timber, harvest it, then sell the land to someone via. a down and monthly payments. Sometimes with a balloon payment clause. I know of several properties that were historically rich in gold being sold this way. Sometimes the buyer defaults. My dad sold a piece of property like this twice to the same person!

It can be a way for a young person to acquire land without having to swing a big un-secured loan.

For a about the price of new truck payment, you could have something of your own.

 

[arrow86]

Maybe if you had enough savings or nest egg to be able to buy or lease equipment I wouldn’t consider it. But if you have the proper equipment and the knowledge and good people around you it would be a great way to spend your days but than there’s the reality check of what if it doesn’t work out or you get injured and can’t mine than what ? Just make sure you have a backup plan

 

[IMAUDIGGER]

Maybe if you had enough savings or nest egg to be able to buy or lease equipment I wouldn’t consider it. But if you have the proper equipment and the knowledge and good people around you it would be a great way to spend your days but than there’s the reality check of what if it doesn’t work out or you get injured and can’t mine than what ? Just make sure you have a backup plan

Sounds like a fun way to blow your savings. Even on good ground, it’s pretty tough to make much profit after you factor in the complete actual cost.
Price of gold needs to go back up to $1700 in my opinion.

 

[Goldwasher]

"But reading about how many of you are pretty old now "



careful they don't like that.. crackin me up

 

[johnedoe]

Yup, ya better mind yer manors .... I'll chase ya down and run over ya with my wheelchair kiddo.........

 

[Mitch Dickson]

You can make a dang good living working gold. As long as you got a government pension