View Full Version : Any advice for buying a Gold Claim?

28th May 2010, 04:07 PM
I had a conversation with a acquaintance last year about her gold claim in N. Cali. She was thinking of selling it and we talked some. I did a little research last year and found that they were going for more then I would spend. Well, this year we had the same conversation and a very realistic price came up.

She hasn't panned or dredged in three years. We're thinking of taking a trip to the claim this summer. It is very reasonable to maintain with about $120 in fees per year.

I would consider it a vacation / entertainment investment. It is on 20 acres with the creek and I could camp there. ROI is not at the top of my concerns, but I'll have a feel for that when we actually pan. If it has some gold whatsoever it would pay for itself quickly.

Does anyone have a gold claim? How much time do you spend there?

What regulations should I be concerned with? or other considerations?

Saul Mine
28th May 2010, 09:53 PM
Go to the Bureau of Land Management and your state Bureau of Mines. They are nice people eager to help you.

You don't own anything with a claim, it's only a claim. So it isn't worth more than a few hundred bux unless the deal includes some equipment or something. If there is equipment you have to occupy the place constantly to keep drifters from stealing everything.

29th May 2010, 05:20 PM
Thanks Saul Mine. --I realize I won't own anything, but the opportunity and rights to do what I enjoy anyway. If the price wasn't so appealing I wouldn't even consider it!

I've gathered some information, I just don't like to ask the beautician if I need a haircut! So I thought I'd throw it out here for any hands-on advice.

Thanks again.