Turning Hobby Mining into Business Mining
March 2013 by Steve HerschbachThe first thing a person should do is seriously consider whether they want to go mining as a hobby or a business, and the tax implications of the choice.
The very first thing to find out...is if the detector has the ability to be ground balanced.
Sometimes there are good mining claims on the market available to purchase, but there are also folks out there who are willing to take your money under false pretenses. Don’t fool yourself into thinking that these wolves in sheep’s clothing are few and far between.
It took me awhile before I finally got a nice mellow signal. My nugget turned out to weigh in about two dwt (pennyweight). Over the next few hours, we all picked up a few more nuggets apiece.
The biggest nugget I have found detecting here was three grams and the following weekend someone found a 9-gram nugget while detecting. Some have even found quarter-ounce nuggets, with one being a chevron nugget.
Many friends have come up to my locale to detect for gold. I am writing this article hoping that it may help anyone who uses a detector to prospect for gold nuggets.
When doing your initial armchair research and selecting potential areas to explore, consider all the indicators, both natural and man-made.
In some ways, silver is the forgotten precious metal because it straddles both the world of precious metals and jewelry, while having many important industrial applications like a base metal. The price of silver reflects both the precious metal investment demand as well as the industrial demand.
The Bawl Mill • Ask the Experts • Ask the Experts • Ask the Experts • Ask the Experts • Ask the Experts • Legislative and Regulatory Update • Gold Deposits of Montana • Benches and Fossil Placers • Buying a Mining Claim: Questions to Ask • Looking for that Hidden Placer • The Many Facets of Iron • And the Survey Says... • $50 Million Swiped in Diamond Heist • Melman on Gold & Silver • Mining Stock Quotes and Mineral & Metal Prices