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Ever wonder what a pound of gold is worth? Gold is priced in troy ounces (14.6 troy ounces per standard pound). Gold was priced at $1585.70 per ounce on 29 April, 2011.
At that time, one standard pound of gold was worth $22,833.
Silver was $47.94 per ounce. One pound of silver was worth $699.
Platinum was $1873.00 per ounce. One pound of platinum was worth $27,314.
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United States Mint American Buffalo Gold Bullion Coins
American Buffalo Gold Bullion Coins are the first .9999 fine 24-karat gold coins ever struck by the United States Mint and offered for sale through a network of Authorized Purchasers. These $50 gold coins are available to members of the public seeking a simple and tangible means to own and invest in 24-karat gold in the form of legal tender coins whose content and purity is guaranteed by the United States Government.
American Buffalo Gold Bullion Coins are available at many coin and precious metals dealers as well as many brokerage houses and participating banks. Pricing for precious metal investment coins typically depends on the market price of the metal.
United States Mint American Buffalo Gold Proof Coins
The United States Mint produces a proof version of these coins for collectors. The term "proof" refers to a specialized minting process that begins by manually feeding burnished coin blanks into presses fitted with special dies. Each coin is struck multiple times so the softly frosted and highly detailed images seem to float above the field.
Is U.S. currency still backed by gold?
No, when the United States stopped selling gold to foreign official holders of dollars at the rate of $35 an ounce in 1971, it brought the gold exchange standard to an end. In 1973, the United States officially ended its adherence to the gold standard. Many other industrialized nations also switched from a system of fixed exchange rates to a system of floating rates. In August 1974, President Ford repealed the prohibition on the public's owning gold or engaging in gold transactions. Today, no country bans private ownership of gold.
Where can I purchase gold or silver?
You can buy or sell precious metal bullion and coins from private dealers. Check your Yellow Pages or conduct an Internet search. Federal Reserve Banks neither buy nor sell precious metals.
Can I redeem my gold or silver certificate for gold or silver at a Federal Reserve Bank?
No. However, gold and silver certificates are sometimes more valuable to collectors than their face value. Check with a local coin or currency dealer in your area who can assess their worth as a collectible.
   
Gold Mutual Funds are a popular way to put money to work in gold. While the initial investment requirement might be more than for a single gold coin, there are benefits to owning mutual funds. The investor can usually sell all or part of his investment with a simple phone call. If the investor has cash-equivalent funds with the mutual fund company, a purchase can be made with a phone call. No shipping costs, shipping insurance, delivery uncertainy, or storage hassles. Just move cash in and out of the gold mutual fund.
Gold has been treasured since ancient times for its beauty and permanence. Most of the gold that is fabricated today goes into the manufacture of jewelry. However, because of its superior electrical conductivity and resistance to corrosion and other desirable combinations of physical and chemical properties, gold also emerged in the late 20th century as an essential industrial metal.
Gold performs critical functions in computers, communications equipment, spacecraft, jet aircraft engines, and a host of other products. Although gold is important to industry and the arts, it also retains a unique status among all commodities as a long-term store of value. Until recent times, it was considered essentially a monetary metal, and most of the bullion produced each year went into the vaults of government treasuries or central banks.
Before 1965, many U.S. coins were made of an alloy which was mostly silver. As silver prices increased, the value of these older coins increased. Now they are worth several times their face value.
The 1964 Kennedy Half Dollar was minted with a 90 percent silver content. The next year the coins were changed to "silver clad" composition.
Silver has been used for thousands of years as ornaments and utensils, for trade, and as the basis for many monetary systems. Of all the metals, pure silver has the whitest color, the highest optical reflectivity, and the highest thermal and electrical conductivity. Also, silver halides are photosensitive. Owing to the above properties, silver has many industrial applications such as in mirrors, electrical and electronic products, and photography, which is the largest single end use of silver. Silver's catalytic properties make it ideal for use as a catalyst in oxidation reactions; for example, the production of formaldehyde from methanol and air by means of silver screens or crystallites containing a minimum 99.95 weight-percent silver.
For the second commemorative coin program of 2006, the United States Mint paid tribute to the
San Francisco Old Mint, celebrating the instrumental role it played in the recovery and rebuilding
of a great American city after the earthquake of 1906.
In 1852 President Millard Fillmore approved an Act of Congress establishing a branch of the United
States Mint in San Francisco to convert miners’ gold from the California gold rush into coins. The
San Francisco Old Mint building, the second building in San Francisco to house the United States Mint
there, was designed by architect A.B. Mullett who also designed the United States Department of the
Treasury building and the Eisenhower Executive Office Building. The solid construction of the
"Granite Lady" enabled it to survive the 1906 earthquake and fire, making it the only
financial institution able to operate immediately after the earthquake as the Treasury for disaster
relief funds for the city of San Francisco.
The obverse design of the $5 gold coin is a rendition of the Old Mint modeled on the original 1869
construction drawing by A.B. Mullett. The reverse design is a replica of the 1906 Half-Eagle Coronet
Liberty eagle reverse, designed by Christian Gobrecht.
The obverse design of the silver dollar is a rendition of the San Francisco Old Mint, originally
prepared for the San Francisco Mint Medal by Sherl J. Winter. The reverse design is a replica of
the 1904 Morgan Silver Dollar eagle reverse, designed by George T. Morgan.
Both coins will be struck at the current United States Mint at San Francisco and carry the
distinctive "S" mint mark of that facility.
Both coins are available with proof and uncirculated finishes. A proof coin has a brilliant
mirror-like finish. The term "proof" refers to a specialized minting process, which begins
by manually feeding burnished coin planchets into presses fitted with specially polished dies.
An uncirculated coin has a high quality, satin finish and is produced with special care.
The five-dollar gold coin is limited to 100,000 and the one-dollar silver coin has a mintage limit
of up to 500,000 across all product options.
Of the approximately 193,000 metric tons of gold discovered, 62% is found in just four countries on earth. All the gold discovered thus far would fit in a cube 22 meters on a side.
Of the approximately 1,740,000 metric tons of silver discovered, 55% is found in just four countries on earth. All the silver discovered thus far would fit in a cube 55 meters on a side.
What is the meaning of the karat mark on gold jewelry? The fineness of jewelry gold is stated as the number of parts in twenty-four that are gold. Thus, 24 karat gold is pure gold; 12 K would be an alloy that is half gold and half copper or other metals.
Fool's Gold can be one of three minerals; the most common mineral mistaken for gold is pyrite, chalcopyrite may also appear gold-like, and weathered biotite mica can mimic flake gold.
Sources
Gold occurs in veins and alluvial deposits, and is often separated from rocks and other
minerals by mining and panning operations. About two thirds of the world's gold output
comes from South Africa, and about two thirds of the total U.S. production comes from
South Dakota and Nevada. The metal is recovered from its ores by cyaniding, amalgamating,
and smelting processes. Refining is also frequently done by electrolysis. Gold occurs in
sea water to the extent of 0.1 to 2 mg/ton, depending on the location where the sample is
taken. As yet, no method has been found for recovering gold from sea water profitably.
Properties
It is estimated that all the gold in the world, so far refined, could be placed in a
single cube 60 ft. on a side. Of all the elements, gold in its pure state is undoubtedly
the most beautiful. It is metallic, having a yellow color when in a mass, but when finely
divided it may be black, ruby, or purple. The Purple of Cassius is a delicate test for
auric gold. It is the most malleable and ductile metal; 1 oz. of gold can be beaten out to
300 ft2. It is a soft
metal and is usually alloyed to give it more strength. It is a good conductor of heat and
electricity, and is unaffected by air and most reagents.
Uses
It is used in coinage and is a standard for monetary systems in many countries. It is
also extensively used for jewelry, decoration, dental work, and for plating. It is used
for coating certain space satellites, as it is a good reflector of infrared and is inert.
Cost
Gold, like other precious metals, is measured in troy weight; when alloyed with other
metals, the term carat is used to express the amount of gold present, 24 carats being pure
gold. For many years the value of gold was set by the U.S. at $20.67/troy ounce; in 1934
this value was fixed by law at $35.00/troy ounce, 9/10th fine. On March 17, 1968, because
of a gold crisis, a two-tiered pricing system was established whereby gold was still used
to settle international accounts at the old $35.00/troy ounce price while the price of
gold on the private market would be allowed to fluctuate. Since this time, the price of
gold on the free market has fluctuated widely. The price of gold on the free market
reached a price of $620/troy oz. in January 1980. As of January 1990, gold was priced at
about $410/troy oz. In December 2009, gold reached a price of $1200/troy oz.
Isotopes
The most common gold compounds are auric chloride and chlorauric acid, the latter being
used in photography for toning the silver image. Gold has 18 isotopes; 198Au, with a
half-life of 2.7 days, is used for treating cancer and other diseases. Disodium
aurothiomalate is administered intramuscularly as a treatment for arthritis. A mixture of
one part nitric acid with three of hydrochloric acid is called aqua regia (because it
dissolved gold, the King of Metals). Gold is available commercially with a purity of
99.999+%. For many years the temperature assigned to the freezing point of gold has been
1063.0C; this has served as a calibration point for the International Temperature Scales
(ITS-27 and ITS-48) and the International Practical Temperature Scale (IPTS-48). In 1968,
a new International Practical Temperature Scale (IPTS-68) was adopted, which demands that
the freezing point of gold be changed to 1064.43C. The specific gravity of gold has been
found to vary considerably depending on temperature, how the metal is precipitated, and
cold-worked.
Gold Discovered in California
January 24, 1848
Many people in California figured gold was there, but it was James W. Marshall on January 24, 1848, who saw something shiny in Sutter Creek near Coloma, California. He had discovered gold unexpectedly while overseeing construction of a sawmill on the American River.
Another builder, James S. Brown, heard Marshall say, "Boys, I have got her now." Brown stepped over to Marshall, who held his hat in his hand. There in the hat were 10 or 12 pieces of gold.
People had made false claims before that they had discovered gold, so it wasn't until December of 1848, when President James Polk backed up the discovery, that the Gold Rush began.
The thought of becoming rich from picking up gold nuggets from the ground was like hoping to win the lottery! In 1849, prospectors came from everywhere to try to make their fortunes. They became known as the "forty-niners." More than 100,000 people arrived in California, but the gold was harder to find than people realized. A few made a small fortune. Others left for home penniless. Many made a living instead, running stores, saloons, laundries, and boarding houses, creating towns and cities that still exist in California.
Gold Rush Days / World Open Gold Panning Championship
You've probably heard of the California Gold Rush of 1848. But did you know there was also a gold rush in Georgia?
Gold was discovered in Dahlonega, Georgia, in 1828. Nestled in the mountains of northern Georgia, Dahlonega is home to the Consolidated Gold Mine. At the turn of the 20th century, the mine was reportedly the largest gold mining operation east of the Mississippi River. In 1901, during a cleanup, 54 pounds of gold were recovered from it.
Each October, Dahlonega, which comes from the Indian word "talonaga," meaning "precious metal," celebrates the first big gold rush with a two-day festival that has grown into one of the biggest events in the area. Another festival, called the World Open Gold Panning Championship, began in California in 1961 to remember the 1842 discovery of gold in Los Angeles County. This festival moved to the Consolidated Gold Mine in Dahlonega in the late 1980s. The Championship includes a contest in which the winner is the fastest person to pan eight nuggets of gold from a full pan of sand.
Investors in Gold Have Another Choice
For the first time in its history, the United States Mint is proud to offer its customers the opportunity to purchase a 24-karat gold bullion coin.
The American Buffalo Gold Bullion Coin represents the convergence of timeless elegance in numismatic design and uncompromising quality in coinage production, the result of which is this one ounce coin made of pure .9999 fine gold.
Authorized by Congress in 2005 and first minted in June 2006, American Buffalo Gold Bullion Coins are among the world's purest gold coins in terms of the fineness of the metal they contain. Each coin contains its full, stated weight of pure gold. By law, the gold for United States Mint American Buffalo Gold Bullion Coins must be taken from newly mined sources in America. They are struck at the United States Mint at West Point, New York. While struck at West Point, American Buffalo Gold Bullion Coins do not have a mint mark.
Purity, Weight and Content Guaranteed
United States Mint gold bullion coins are the only official investment-grade gold bullion coins whose weight, content and purity are guaranteed by the United States Government. Like the U.S. dollar, gold bullion coins are welcome in major investment markets worldwide. Investment firms have for years considered pure, 24-karat (.9999) fine gold coins to be bullion eligible for U.S. Individual Retirement Accounts (IRAs). Consult with your investment firm on whether it has decided to include pure .9999 American Buffalo Gold Bullion Coins in its portfolios.
Easy to Buy and Sell
One measure of an investment is liquidity, or the ease with which an asset can be converted to cash. The American Buffalo Gold Bullion Coin, with its unique backing by the United States Government, can be sold for cash at most coin and precious metals dealers worldwide. Although the coin is also United States legal tender, its face value is largely symbolic as the value of the gold it contains has historically been far greater.
You can buy American Buffalo Gold Bullion Coins at major coin and precious metals dealers, as well as many brokerage firms and participating banks. They sell at gold’s prevailing market price, plus a small premium to cover coining and distribution costs.
American Eagle Gold Bullion Coins
Authorized by Congress in 1985 and first minted in 1986, American Eagle Gold Bullion Coins are minted according to the durable, 22-karat standard established for circulating gold coinage 350 years ago. Each coin contains its full, stated weight of pure gold, which by law, must be taken from newly mined sources in America. The balance consists of silver and copper, added to increase the coin’s durability to help resist scratching and marring, which can adversely affect a bullion coins’ resale value. Gold Eagles are rich in history, too. The obverse is based on world-renowned American sculptor Augustus Saint-Gaudens’ design for the prized 1907 $20 gold coin. The reverse pictures a family of eagles, symbolizing family tradition and unity. Government Guarantee American Eagle Gold Bullion Coins are America’s only official investment-grade gold bullion coins. They’re the world’s only gold bullion coins whose weight, content, and purity are guaranteed by the United States Government. So like the dollar, American Eagles are welcome in major investment markets worldwide. You can even include them in an Individual Retirement Account (IRA).
Portfolio Diversification
Many investment experts believe that adding gold to your portfolio may improve its performance. That’s because the forces that determine gold’s price usually differ from, and in many cases counter, the forces that determine the price of many financial assets. Investment advisors often suggest that this relationship may help to reduce portfolio volatility. Gold Eagles are the easy, convenient, and affordable way toa dd gold to your portfolio.
Easy to Buy and Sell
One measure of an investment is liquidity: How easily can it be converted to cash? Gold Eagles, with their unique U.S. Government backing, can be sold for cash at most coin and precious metals dealers worldwide. They’re also legal tender. Their face values are largely symbolic, because gold’s market price — which is reported in the market pages and Web sites of major newspapers— has historically been higher. Buy Gold Eagles at major coin and precious metals dealers, as well as many brokerage houses and participating banks. They sell at gold’s prevailing market price, plus a small premium to cover coinage and distribution costs.
American Eagle Gold Bullion Coins
When You Invest in Gold, Choose eagles FIRST.
Gold has been mankind’s obsession since the
dawn of civilization. Used as money in China over
3,000 years ago, gold was first coined by the Romans
in 50 B.C. America’s first gold coins — the original
Eagles — were produced by the three-year-old
United States Mint in 1795. Today, gold coins
are seldom found in circulation. Instead, they’re
often found in investment portfolios.
When you invest in gold, choose the
bullion coins that feature the very symbol of
our nation’s freedom — the American eagle.
Choose American Eagle Gold Bullion Coins,
the number one gold bullion coins in the
world, from the United States Mint.
Investing in Gold Eagles increases your
portfolio’s diversity. They bring balance,
because their value often moves independently
of stocks and bonds. They offer liquidity,
meaning they’re easy to buy and sell. And in
this fast-paced world of electronic investing,
Gold Eagles are tangible investments whose
beauty and artistry you can literally enjoy
in the palm of your hand. Available in
four denominations, they sell at a variety
of prices — smaller sizes also make
affordable, thoughtful gifts.
Invest in American Eagle Gold
Bullion Coins from the United
States Mint
Founded in 1792, the United States Mint is a bureau
of the U.S. Department of the Treasury. The official
mint of the U.S. Government, it makes the nation’s
circulating legal-tender coinage, and it is regarded
worldwide for its meticulous craftsmanship. It also
produces various commemorative and bullion coin
issues. American Eagle Gold Bullion Coins are
minted to demand in West Point, New York.
Invest in an American tradition. A portfolio
diversifier. A great gift or reward. Invest in American
Eagle Gold Bullion Coins today.
Prospecting for Gold in the United States
by Harold Kirkemo
Anyone who pans for gold hopes to be rewarded by the glitter
of colors in the fine material collected in the bottom of the
pan. Although the exercise and outdoor activity experienced in
prospecting are rewarding, there are few thrills comparable to
finding gold. Even an assay report showing an appreciable content
of gold in a sample obtained from a lode deposit is exciting. The
would-be prospector hoping for financial gain, however, should
carefully consider all the pertinent facts before deciding on a
prospecting venture.
Only a few prospectors among the many thousands who searched
the western part of the United States ever found a valuable
deposit. Most of the gold mining districts in the West were
located by pioneers, many of whom were experienced gold miners
from the southern Appalachian region, but even in colonial times
only a small proportion of the gold seekers were successful. Over
the past several centuries the country has been thoroughly
searched by prospectors. During the depression of the 1930's,
prospectors searched the better known gold-producing areas
throughout the Nation, especially in the West, and the
little-known areas as well. The results of their activities have
never been fully documented, but incomplete records indicate that
an extremely small percentage of the total number of active
prospectors supported themselves by gold mining. Of the few
significant discoveries reported, nearly all were made by
prospectors of long experience who were familiar with the regions
in which they were working.
The lack of outstanding success in spite of the great
increase in prospecting during the depression in the 1930's
confirms the opinion of those most familiar with the occurrence
of gold and the development of gold mining districts that the
best chances of success lie in systematic studies of known
productive areas rather than in efforts to discover gold in
hitherto unproductive areas. The development of new, highly
sensitive, and relatively inexpensive methods of detecting gold,
however, has greatly increased the possibility of discovering
gold deposits which are too low grade to have been recognized
earlier by the prospector using only a gold pan. These may be
large enough to be exploited by modern mining and metallurgical
techniques. The Carlin mine near Carlin, Nev., is producing gold
from a large low-grade deposit that was opened in 1965 after
intensive scientific and technical work had been completed.
Similar investigations have led to the more recent discovery of a
Carlin-type gold deposit in Jerritt Canyon, Nev.
Many believe that it is possible to make wages or better by
panning gold in the streams of the West, particularly in regions
where placer mining formerly flourished. However, most placer
deposits have been thoroughly reworked at least twice--first by
Chinese laborers, who arrived soon after the initial boom periods
and recovered gold from the lower grade deposits and tailings
left by the first miners, and later by itinerant miners during
the 1930's. Geologists and engineers who systematically
investigate remote parts of the country find small placer
diggings and old prospect pits whose number and wide distribution
imply few, if any, recognizable surface indications of
metal-bearing deposits were overlooked by the earlier miners and
prospectors.
One who contemplates prospecting for gold should realize
that a successful venture does not necessarily mean large profits
even if the discovery is developed into a producing mine.
Although the price of gold has increased significantly since 1967
when the fixed price of $35 an ounce was terminated, the
increases in the cost of virtually every supply and service item
needed in prospecting and mining ventures have kept profit
margins at moderate levels, particularly for the small mine
operator. In general, wide fluctuations in the price of gold are
not uncommon, whereas inflationary pressures are more persistent.
The producer of gold, therefore, faces uncertain economic
problems and should be aware of their effects on his
operation.
Today's prospector must determine where prospecting is
permitted and be aware of the regulations under which he is
allowed to search for gold and other metals. Permission to enter
upon privately owned land must be obtained from the land owner.
Determination of land ownership and location and contact with the
owner can be a time-consuming chore but one which has to be done
before prospecting can begin.
Determination of the location and extent of public lands
open to mineral entry for prospecting and mining purposes also is
a time consuming but necessary requirement. National parks, for
example, are closed to prospecting. Certain lands under the
jurisdiction of the Forest Service and the Bureau of Land
Management may be entered for prospecting, but sets of rules and
regulations govern entry. The following statement from a pamphlet
issued in 1978 by the U.S. Department of the Interior and
entitled "Staking a mining claim on Federal Lands" responds to
the question "Where May I Prospect?"
There are still areas where you may prospect,
and if a discovery of a valuable, locatable mineral is made, you
may stake a claim. These areas are mainly in Alaska, Arizona,
Arkansas, California, Colorado, Florida, Idaho, Louisiana,
Mississippi, Montana, Nebraska, Nevada, New Mexico, North
Dakota, Oregon, South Dakota, Utah, Washington, and Wyoming.
Such areas are mainly unreserved, unappropriated Federal
public lands administered by the Bureau of Land Management
(BLM) of the U.S. Department of the Interior and in national
forests administered by the Forest Service of the U.S.
Department of Agriculture. Public land records in the proper BLM
State Office will show you which lands are closed to mineral
entry under the mining laws. These offices keep up-to-date land
status plats that are available to the public for inspection. BLM
is publishing a series of surface and mineral ownership maps that
depict the general ownership pattern of public lands. These maps
may be purchased at most BLM Offices. For a specific tract of
land, it is advisable to check the official land records at the
proper BLM State Office.
Successful gold mining under present conditions is a large-scale
operation, utilizing costly and sophisticated machinery capable
of handling many tons of low-grade ore each day. The grizzled
prospector with a burro is no longer a significant participant in
the search for mineral deposits, and the small producer accounts
for only a minor share of the total production of metals
including gold.
Some degree of success in finding gold still remains for
those choosing favorable areas after a careful study of mining
records and the geology of the mining districts. Serious
prospecting should not be attempted by anyone without sufficient
capital to support a long and possibly discouraging campaign of
preliminary work. The prospective gold seeker must have ample
funds to travel to and from the region he selects to prospect and
to support the venture. He must be prepared to undergo physical
hardships, possess a car capable of traveling the roughest and
steepest roads, and not be discouraged by repeated
disappointments. Even if a discovery of value is not found, the
venture will have been interesting and challenging.
Locations of important gold-producing districts of the
United States are shown in some of the reports of the Geological
Survey listed at the back of this pamphlet. Geological agencies
of the principal gold-producing States where additional
information may be obtained also are listed. Information may be
obtained, too, from U.S. Bureau of Mines State Liaison offices
located in the capital cities of most States.
Placer Deposits
A placer deposit is a concentration of a natural material
that has accumulated in unconsolidated sediments of a stream bed,
beach, or residual deposit. Gold derived by weathering or other
process from lode deposits is likely to accumulate in placer
deposits because of its weight and resistance to corrosion. In
addition, its characteristically sun-yellow color makes it easily
and quickly recognizable even in very small quantities. The gold
pan or miner's pan is a shallow sheet-iron vessel with sloping
sides and flat bottom used to wash gold-bearing gravel or other
material containing heavy minerals. The process of washing
material in a pan, referred to as "panning," is the simplest and
most commonly used and least expensive method for a prospector to
separate gold from the silt, sand, and gravel of the stream
deposits. It is a tedious, back-breaking job and only with
practice does one become proficient in the operation.
Many placer districts in California have been mined on a
large scale as recently as the mid-1950's. Streams draining the
rich Mother Lode region--the Feather, Mokelumne, American,
Cosumnes, Calaveras, and Yuba Rivers--and the Trinity River in
northern California have concentrated considerable quantities of
gold in gravels. In addition, placers associated with gravels
that are stream remnants from an older erosion cycle occur in the
same general area.
Much of the gold produced in Alaska was mined from placers.
These deposits are widespread, occurring along many of the major
rivers and their tributaries. Some ocean beach sands also have
been productive. The principal placer-mining region has been the
Yukon River basin which crosses central Alaska. Dredging
operations in the Fairbanks district have been the most
productive in the State. Beach deposits in the Nome district in
the south-central part of the Seward Peninsula rank second among
productive placer deposits of Alaska. Other highly productive
placers have been found in the drainage basin of the Copper River
and of the Kuskokwim River.
In Montana, the principal placer-mining districts are in the
southwestern part of the State. The most productive placer
deposit in the State was at Alder Gulch near Virginia City in
Madison County. Other important placer localities are on the
Missouri River in the Helena mining district. The famous Last
Chance Gulch is the site of the city of Helena. There are many
districts farther south on the headwaters and tributaries of the
Missouri River, especially in Madison County which ranks third in
total gold production in the State. Gold has been produced at
many places on the headwaters of the Clark Fork of the Columbia
River, particularly in the vicinity of Butte. Placer production
from the Butte district, however, has been over-shadowed by the
total output of byproduct gold recovered from the mining of lode
deposits of copper, lead, and zinc.
Idaho was once a leading placer-mining State. One of the
chief dredging areas is in the Boise Basin, a few miles northeast
of Boise, in the west-central part of the State. Other placer
deposits are located along the Salmon River and on the Clearwater
River and its tributaries, particularly at Elk City, Pierce, and
Orofino. Extremely fine-grained (or "flour") gold occurs in sand
deposits along the Snake River in southern Idaho.
Placers in Colorado have been mined in the Fairplay district in
Park County, and in the Breckenridge district in Summit County.
In both areas large dredges were used during the peak activity in
the 1930's.
The most important mining regions of Oregon are in the
northeastern part of the State where both lode and placer gold
have been found. Placer gold occurs in many streams that drain
the Blue and Wallowa Mountains. One of the most productive placer
districts in this area is in the vicinity of Sumpter, on the
upper Powder River. The Burnt River and its tributaries have
yielded gold. Farther to the west, placer mining (particularly
dredging) has been carried on for many years in the John Day
River valley.
In southwestern Oregon, tributaries of the Rogue River and
neighboring streams in the Klamath Mountains have been sources of
placer gold. Among the main producing districts in this region
are the Greenback district in Josephine County and the Applegate
district in Jackson County.
Minor amounts of placer gold have been produced in South
Dakota (the Black Hills region, particularly in the Deadwood
area, and on French Creek, near Custer) and in Washington (on the
Columbia and Snake Rivers and their tributaries).
In addition to these localities, placer gold occurs along
many of the intermittent and ephemeral streams of arid regions in
Nevada, Arizona, New Mexico, and southern California. In many of
these places a large reserve of low-grade placer gold may exist,
but the lack of a permanent water supply for conventional placer
mining operations requires the use of expensive dry or semidry
concentrating methods to recover the gold.
In the eastern States, limited amounts of gold have been
washed from some streams draining the eastern slope of the
southern Appalachian region in Maryland, Virginia, North
Carolina, South Carolina, Georgia, and Alabama. Many saprolite
(disintegrated somewhat decomposed rock that lies in its original
place) deposits in this general region also have been mined by
placer methods. Small quantities of gold have been mined by
placer methods in some New England States. Additional placer
deposits may be discovered in the East, but prospecting will
require substantial expenditures of time and money. The deposits
probably will be low grade, difficult to recognize, and costly to
explore and sample. Moreover, most of the land in the East is
privately owned, and prospecting can be done only with the prior
permission and agreement of the land owner.
Lode Gold
Lode gold occurs within the solid rock in which it was
deposited. Areas likely to contain valuable lode deposits of gold
have been explored so thoroughly that the inexperienced
prospector without ample capital has little chance of discovering
a new lode worth developing. Most future discoveries of workable
lode gold ore probably will result from continued investigations
in areas known to be productive in the past. The districts in
which such new discoveries of gold may be possible are too
numerous to be listed in detail in this pamphlet. Some of the
famous districts are: in California, the Alleghany, Sierra City,
Grass Valley, and Nevada City districts, and the Mother Lode
belt; in Colorado, the Cripple Creek, Telluride, Silverton, and
Ouray districts; in Nevada, the Goldfield, Tonopah, and Comstock
districts; in South Dakota, the Lead district in the Black Hills;
and in Alaska, the Juneau and Fairbanks districts. Deposits in
these districts generally are gold-quartz lodes.
Prospecting for lode deposits of gold is not the relatively
simple task it once was because most outcrops or exposures of
mineralized rock have been examined and sampled. Today's
prospector must examine not only these exposures, but also broken
rock on mine dumps and exposures of mineralized rock in
accessible mine workings. Gold, if present, may not be visible in
the rock, and detection will depend on the results of laboratory
analyses. Usually, samples of 3 to 5 pounds of representative
mineralized rock will be sent to a commercial analytical
laboratory or assay office for assay. Obviously, knowledge about
the geological nature of gold deposits and particularly of the
rocks and deposits in the area of interest will aid the
prospector.
Platinum
Discovered by Conquistadors in the 1500s,
platinum is the newest, rarest, and usually most
valuable of the precious metals group. Seen in the
finest jewelry, platinum is also increasingly used for
industrial applications, causing demand for the
metal to climb. Most recently platinum — especially
in the form of bullion coins — has become an
investment option.
When you invest in platinum, choose the
bullion coins that feature the very symbol of
our nation’s freedom — the American eagle.
Choose American Eagle Platinum Bullion
Coins, the number one platinum bullion coins
in the world, from the United States Mint.
Investing in Platinum Eagles increases your
portfolio’s diversity. They bring balance, because
their value often moves independently of stocks
and bonds. They offer liquidity, meaning they’re
easy to buy and sell. And in this fast-paced world
of electronic investing, Platinum Eagles are
tangible investments whose beauty and artistry
you can literally enjoy in the palm of your hand.
Available in four denominations, they sell at a
variety of prices — smaller sizes also make
affordable, thoughtful gifts.
American Eagle Platinum Bullion Coins
Authorized by Congress in 1996 and first minted
in 1997, American Eagle Platinum Bullion Coins
are the first and only official investment-grade
platinum coins from the United States Mint.
They’re .9995 fine platinum, virtually the
finest platinum available.
American Eagle Platinum Bullion Coins are also
beautifully designed. The obverse is graced with a
portrait of the Statue of Liberty, while the reverse
pictures a bald eagle soaring across a setting sun.
Government Guarantee
American Eagle Platinum Bullion Coins are the
world’s only platinum bullion coins whose weight,
content, and purity are guaranteed by the United
States Government. So like the dollar, American
Eagles are welcome in major investment markets
worldwide. You can even include them in an
Individual Retirement Account (IRA).
Portfolio Diversification
Many investment experts believe that adding
platinum to your portfolio may improve its
performance. That’s because the forces that
determine platinum’s price usually differ from,
and in many cases counter, the forces that
determine the price of many financial assets.
Investment advisors often suggest that this
relationship may help to reduce portfolio volatility.
Platinum Eagles are the easy, convenient, and
affordable way to add platinum to your portfolio.
Easy to Buy and Sell
One measure of an investment is liquidity: How
easily can it be converted to cash? Platinum Eagles,
with their unique United States Government
backing, can be sold for cash at coin and precious
metals dealers worldwide. They’re also legal
tender. Their face values are largely symbolic,
because platinum’s market price — which is
reported in the market pages and websites of
major newspapers — has historically been higher.
Buy Platinum Eagles at most coin and precious
metals dealers, as well as many brokerage houses
and participating banks. They sell at platinum’s
prevailing market price, plus a small premium to
cover coinage and distribution costs.
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