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geof_junk

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Posts posted by geof_junk

  1. Will it happen again with the worlds fait currency in trouble

     

    U.S. gold standard timeline 

    • 1879: The gold standard is adopted by the U.S.
       
    • 1879 to 1914: The so-called classical gold standard era. One ounce of gold represents $21.
       
    • 1933: The U.S. bans gold ownership. Franklin D. Roosevelt uses the authority granted to the president by the Trading with the Enemy Act to require all U.S. citizens to sell their gold coins, gold bullion, and gold certificates to the Federal Reserve in exchange for $20.67 per ounce. This is knows as Roosevelt's Executive Order 6102. Jewelry and rare coins are excluded. The process of seizing all the gold allows the governments to print more dollars and stimulate the economy.
       
    • 1934: The value of the dollar in gold is changed from $20.67 to $35 per ounce.
       
    • 1950s: Black market for gold is on the rise.
       
    • 1971: The price of gold is no longer fixed to the U.S. dollar. Richard Nixon puts a halt on the U.S. dollar’s convertibility into gold. This means that other countries can no longer redeem dollars for gold.
       
    • 1973: Nixon scraps the gold standard.
       
    • 1974: Roosevelt’s Executive Order to nationalize all privately-owned gold is repealed and Congress restores the U.S. citizens’ right to own gold.
       
    • 1977: Trading With The Enemy Act is amended, removing the U.S. president’s authority to control gold transactions during a period of national emergency, aside from during a time of war. At the same time, International Emergency Economic Powers Act is introduced, which gives powers to the president to regulate international commerce after declaring a national emergency.
       
    • 2020: Trading With The Enemy Act and International Emergency Economic Powers Act are both still in force.

     

    "United States Gold Confiscation—1933

    Labeled Executive Order 6102, President Franklin Roosevelt signed on a law on April 5, 1933 “forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States.” It basically meant that private owners were required to take their coins, bars or gold certificates to a bank, and exchange them for US dollars at the prevailing rate of $20.67 per ounce......
    “Under the Trading With the Enemy Act of 1917, as later amended by the Emergency Banking Act of March 9, 1933, violation of the order was punishable by fine up to $10,000, up to ten years in prison, or both. Numerous individuals and companies were prosecuted.” $10,000 was a fortune in 1933!...Worse, the ban on private ownership of gold in America—the home of the free—lasted over four decades. Not until January 1, 1975 could US citizens own more than $100 in gold again".

    "
    Australia Gold Confiscation—1959

    The Australian government similarly nationalized gold. The law, part of the Banking Act in 1959, allowed gold seizures of private citizens if the Governor determined it was “expedient so to do, for the protection of the currency or of the public credit of the Commonwealth.” In other words, they made it legal to seize gold from private citizens and exchange it for paper currency. The country’s Treasurer stated in a press release that followed, “All gold (other than wrought gold and coins to a limited extent) had to be delivered to the Reserve Bank of Australia within one month of its coming into a person's possession.” The law also said you weren’t allowed to sell gold, except to the Reserve Bank of Australia (their central bank). Nor could you export any gold (send it outside the country) without the bank’s permission. .....the law....destroyed the local private gold market overnight. Like the US ban, this rule wasn’t short lived either. Reports indicate it stayed on the books until 1976, a full 17 years, before being “suspended.”
     

    • Like 2
    • Haha 1
  2. 12 hours ago, jasong said:

    Interesting article. As nuggets get less common, some of this treasure hunting stuff starts to sound like new, interesting challenges. Wish there was more of it where I live.

    I always had a good laugh at all the "lost treasure" myths in the west - buried robbery loots, etc. But I think I might actually try searching for one next year if I can find one that sounds remotely realistic and not just tales and myth. 

    Victorian's avoca tressure hunt

    This might interest you Jason if we let you into Australia 🙂

    ....LINK....

    Sample.....

    Below are three separate stories are about buried treasure near Inverloch that I have discovered and researched. It seems that there should be some sort of a connection between them but if so, I simply haven’t been able to find it. Maybe one day, you will make that connection!

    Inverloch, 1954 and Donald Nicholson.  

    Near Inverloch, an elderly gentleman named Donald Nicholson spent 15 years digging for lost treasure amongst the sand dunes of Savages Hill. .............>At the selection at Tarwin the detectives found 310 of the 5000 missing coins. Later the officers were able to account for a further 1420 coins including ones that that Wiberg had sent to Melbourne for the purchase of a boat.

    • Like 2
  3. If you screw the detector up to max and do an air test on the smallest coin you are chasing the depth is the deepest the hole has to be in the manicured lawn(handy when doing visible public locations.). The air test lets you know the max sensitivity of the detector, but not the depth in the ground, you need bucket (plastic) of hot soil from the hunt location to determine it depth for each target.

    Testing is to give you information that allows you to Guess what the target is. Note lifting the coil as high as you can and get a definite signal helps. Most very deep nuggets sound like ground noise and quite wide if it is ground noise 4" off the ground it will usually disappear. If you still have the signal then you have a high chance of success. Note most tuning of detectors say to go up and down 4" to balance out the ground noise(that covers what I said above).

    There has been a lot of good information posted by others and I hope (those that are not my patch) members benefit from it and more thoughts are given by others.

    EDIT......One other thing to test is once you have a signal, leave it there and have a play with the setting to get the best signal then step back a yard or two and approach it at your normal scanning speed and see how it reacts.  

    • Like 5
  4. 9 minutes ago, Norvic said:

    Wow, that Wofram/gold specimen would certainly be a favourite specie, just wondering if it`s no imposition, is it from Victoria?

    It might give away one of my spots, but here goes. I was in the area near a Wolfram mine within a 100 km from Leonora West Aust. Note if anyone find the spot I don't want to know how much gold I left behind.  🤐

    • Oh my! 1
  5. 8 minutes ago, Steve Herschbach said:

    Duh, I’m stupid. It would not need to be a $1 a year because all I really care about is filtering new memberships. So you all get grandfathered in, and new members have to pay $1 for a lifetime membership, as long as account is in good standing. That just may be the ticket, and anyone not willing to pay a one time fee of $1 can just lurk anyway. 

    And SCAMMERS know money transaction can be traced. 

    • Like 2
  6. Garrett, Send Me An Axiom And I Will make sure that Minelab will not take away your record of the largest nugget ever found with a detector. You  may have to throw in a few extras to get me, but the largest nuggets were mainly found here in Victoria so you will be on a good chance of not losing your record to Minelab when they send me my free GPZ-8000.

    Your sincerly Mr Geof. JUNK

    • Like 1
    • Haha 4
  7. Has any one detected one of these.

    A Ballarat Miner's Safety hook. Miners soon discovered that…

    A Ballarat Miner's Safety hook. Miners soon discovered that…
     
    A Ballarat Miner's Safety hook. Miners soon discovered that even with a windlass and rope, pulling up a bucket of 'Wash Dirt' could be dangerous, especially to people down below, if the lip of the bucket caught and the contents dumped back down. to remedy this, they fashioned a Safety hook, which saved many headaches whilst also easy for disengaging the bucket at the surface, 33 cm long
    • Like 3
    • Thanks 1
  8. My rule of thumb since 1979 is four ounces of gold for the best GOLD Detector available. The question is what is the best for your skill, endurance, size and depth of the gold where you will detect. If you intend to pay for your new TOY a lot of work or play is required to come out in front.   

                :nugget::nugget::nugget::nugget:

    • Like 1
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