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Detector Prospector Magazine

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Posts posted by geof_junk

  1. On ‎1‎/‎1‎/‎2018 at 9:30 AM, Doc said:

    They have told me they have never seen a gold filling that has decay underneath because it "seats" so well that there is simply no way for bacteria to get under the filling.  So even though gold fillings are more expensive, they literally can last a lifetime.

    So you can take your gold with you when your time is up (or is that down) :laugh:

    • Like 1
  2. 11 hours ago, Jin said:

    Decided to offload all my gold. I've never sold gold before and not sure if you just approach a gold buyer and sell it for whatever they're prepared to pay. Obviously, it will be less than the gold price and also less to account for impurities. Now I don't have any wopper nuggets to sell but just curious if my two 16gram bits would be worth more if I sold them privately, say on eBay or on a gold prospecting facebook page? If so how do price them?  

    With gold price of Au$1650 @ the moment with Ebay 10% of final sold price,

    you would have to sell at Au$1833 just to cover  their commission only of Au$183 for your 2 nuggets of approx. 1 ounce with no mailing included.

    Best bet is sell nice bit at gold fields caravan parks as most hobbyist will pay gold price plus. 


    • Like 1
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  3. "I think the other 48 Aussies who were there could definitely learn a few things"

    My be they found none........but they need to fill in their hole.:rolleyes:

    You must do a report at the end of the 3 months and send a copy to both the leaseholder and the DMP, with the amount and EXACT location (GPS points) of any minerals recovered, even if you don't find anything you must do a Nil report. Failure to do so could result in a fine up to $5000, and/or the DMP can Bar you from further 40Es for 3 years. even if its only 1 bit and 0.0002 grams, as your one bit might not be much but if the other 120 people who had a 40E over the same bit of ground also only found a couple of small bits and report it when the leaseholder puts it all on a chart plot they may find that one particular area has a high concentration of gold and therefore worth further investigation

  4. In Feb 1966 the Australian dollar(changed from  Pound Shilling and pence) was effectively pegged to the British pound at an equivalent value of approximately 1 gram of gold. The highest valuation of the Australian dollar relative to the U.S. dollar was during the period of the peg to the U.S. dollar. On 9 September 1973, the peg was adjusted to USA $1.4875  It is now Floating or is that Sinking at US$1.4875 it is now USA $0.7647 and got below  USA $0.61 in Aug 1986. As an Aussy a match between Gold Price and Currency has to be balanced to get the right return for our gold.     Below are some key Gold events

    In August 1971, USA took the dollar off the gold standard.= one Troy ounce of gold at $35.
    In August 1972, USA devalued dollar to $38 per ounce of gold.
    In March 1973, Most of the major countries adopted a floating exchange rate system.
    Then in May 1973, the USA devalued dollar again, to $42.22 per ounce.
    January 1980. Gold hits record high at $850 per ounce. High inflation,  strong oil prices,
    Afghanistan caused investors to move into the metal.
    In August 1999, gold fell to $251.70 central banks reducing gold bullion reserves
    In October 1999, gold reached a two-year high at $338 after  15 European central banks to limit the gold sales.
    Then in December 2003 to January 2004, gold broke above $400, due to
     conflict with Iraq.
    In November 2005, the spot gold rises hit $502.97 .
    April 2006 and gold prices 600 US dollars an ounce, the highest since December 1980
    May  2006, gold prices peak at 730 US dollars an ounce This was due to firm oil prices and political tensions over Iran's nuclear ambitions.
    June  2006 gold falls 26 percent to $543 from its 26-year peak after investors and speculators went on a flurry of profit taking.
    Nov 2007  spot gold peaks at a 28-year high of $845.40 an ounce.
    Jan  2008,  gold has breached 900 dollars an ounce and looks set to reach the magical 1000 US dollars per ounce.

    July 2017(today) Gold is AUD $1594 or USD $1219 . 


    • Like 1
  5. What Happened to the Gold Price in 1980?

    "In January 1980 gold hit a record 850 US dollars an ounce. After reaching those dizzy heights it then plummeted down and remained steady in the 300-400 dollar range for some years before starting to climb again to new levels. 

    Now gold has broken through the 900 dollars an ounce gold barrier and some investors and analysts are wondering, is this going to be a repeat of the 1980 gold spike? 

    In fact, there are many differences between the 1980 spike in the gold price and the current rise in gold value, not the least of which is the longer term trend currently occurring. In 1980 gold basically shot up like a bullet out of a gun and then, like a bullet, slowed down and returned to earth."

    Read the rest of the article at gold price.org

    • Like 2
  6. If you are a seller you would have to mark it up over 33% to break even, with there 25% commission fee.    eg.   1 Oz   = $1270  x 1.333

                                                                      = $ 1693  Break even min bid

                                                                      = $ 1693 minus 25% commission 

                                                                      = $ 1269 for seller.

    It seem like a good way to make $$$$$$$ for the Auctioneer.



    • Like 3
  7. 5 hours ago, whitebutler said:

    It seems I have to change my goals. After a 5.8 ouncer I now am headed to find a pounder. One pound isn't to much to ask for. I believe it's possible. I know I will do it. I keep telling myself and my wife I will bring home a pounder. 



    Don't set the target low, go metric 1 Kg (31+ ounces) GO FOR IT MATE.

  8. Here another spot

    John Mills was an Irishman from Londonderry. He was part of a prospecting party of six who had conducted a fruitless search in early 1894 for gold near Widgiemooltha. Virtually broke, they were prospecting as they made their way back to Coolgardie. Mills sat down under a tree to rest, depressed about his lack of fortune, when he idly pushed a rock aside with the heel of his boot. The underside was covered in gold. As the party explored the site, it was found the stone in the outcrop was hanging together with gold. This incredibly rich tiny deposit yielded 8000 ounces from dollying in a few weeks.

    One of the party became ill and returned to Coolgardie. Here he got wildly drunk and with a loose tongue, soon most of the town had heard about the find. The next day virtually the entire town arrived at the site, and leases were pegged in all directions.

    The prospecting party sold the lease to speculators, who sealed the hole with a metal plate. A company was formed in London and Paris, raising 750 000 pounds. It was a staggering amount, considering the most promising mines in Western Australia at the time could only raise about 50 000 pounds. In the period after, with the hole still sealed, it developed almost mythical status. Promoted as what would become no less than the biggest gold mine in the world.

    Eventually after several months, the company was ready to start mining, and the seal was broken with much pomp and ceremony. After a few days, it was revealed only a thin gold shell remained, and all the rock beyond this was barren. Hundreds of leases nearby were immediately abandoned, after thousands of pounds had been spent developing them. Investors of the Golden Hole lost in some cases their life savings, and went bankrupt. Recriminations flew. It was the first of many scandals on the Western Australian goldfields, because when it comes to greed, people have short memories.

    TOO LATE AGAIN......:sad:


    Another write up.......

    The Londonderry Gold Mine.

    — ♦ A recent cable gram from Perth says that some of the specimens from the Londonderry mine, near Coolgardie, are so rich that one has to look closely to see the quartz. A correspondent of the Sydney Morning Herald gives the following particulars regarding this mine : — The most wonderful find of gold ever made in the colony has been discovered nine miles south-west from Coolgardie. The mine ia marvellously rich in coarse, wiry gold, of a bright color, the metal being so thickly scattered through the stone that after the rock is fractured it has to be wrenched apart. The stone is close-grained. Every piece broken shows the faces of the fracture to consist of nearly one-third gold. Rumors of the find have been circulated for some time, but the locality was unknown till the last few days. The workings consist of a trench outcutting across a reef measuring 6ft long by 2ft wide and 3ft deep, and a shaft 40fc deep sunk away from the reef cutting. 4000 oz of gold were dollied in four or five weeks, while the specimens, measuring a foot square, are so heavy that one caunot lift them. One splendid block equal to a 9in cube in size, is so rich that Mr Elliott, one of the parry, paid his mates £2OOO for their share in it. The claim was discovered by a party of six tired and disheartened diggers returning from Lake Lefroy, who in prospecting along the route struck an outcrop showing pieces nearly Wwt each in quartz. The "holdeis of the lease are Messrs Elliott and Farmer, from Avoca, Victoria, and Messrs Mills, Huxley, Gardiner, Carter, and Dawson, who had offers of great sums made to them for the property. One offer was for £ 25,000 cash. The offers have been refused. The gold ia sight is estimated to be worth very much more than the sum mentioned. Later intelligence states that the owners, Messrs Mills, Gardiner, Carter and Dawson, are from New South Wales, and the others, Messrs Elliott and Huxley, from Victoria. They arrived at Coolgardie about the middle of March, and formed themselves into a prospecting party. They journeyed out to Lake Lefroy, where they got neither gold nor water. At the end of April they started away back. On the Bth May they arrived about 12 miles south-west of Coolgardie. There they pitched their camp, and on the following day they made the lucky discovery. He and others visited the mine last week, and he says the expert declared the specimens the most magnificent ever seen in the whole history of mining in Australia. They consist generally of large pieces of quartz. The biggest is known as Big Ben, purchased by Sir. Elliott, who had previous experience as a miner, for £2,000. Only the strongest men in the party, Messrs Begelhole, Pearce and Stockfield could lift it. It is estimated to weigh 300 lb. Mr Elliott, it is said, will make £1,000 on the bargain. Other pieces were smaller, running from the size of a man's head or a little larger, down to the size of half a brick, and contained from half an ounce to a hundred ounces. They had not got many of them, but what they got were  marvelously rich. The amount of gold in the specimens was 4,700 0z per dwt, and then there was Big Ben. If it goes down 100 ft there must be a quarter of a million pounds' worth of gold in it. If it goes down no further than at present, they have   £ 25.000 worth.

    • Like 2
  9. Not if you walk in a circle  :biggrin:It happens...........As you say there is plenty of handrails if you know what bearing to take. I remember going looking for a mate lost in Maryborough .There was only moonlight. Found him heading down the track in the wrong direction, a few km further than where he started.  :rolleyes: 

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