You Only Need 18 Ounces!

[Steve Herschbach]

It’s nothing near as bad as it was in the 1980s, entire industry built around claim flipping back then. It’s a direct result of gold prices, and when you hit gold rush levels it goes completely nuts. Done properly with a quit claim deed it’s completely legal to sell worthless ground, so don’t look for much sympathy if a person does so without educating themselves first. Rule number one. Virgin unmined ground is usually that way for a very simple reason - little to no gold.

 

[GhostMiner]

25 minutes ago, Steve Herschbach said:

It’s nothing near as bad as it was in the 1980s, entire industry built around claim flipping back then. It’s a direct result of gold prices, and when you hit gold rush levels it goes completely nuts. Done properly with a quit claim deed it’s completely legal to sell worthless ground, so don’t look for much sympathy if a person does so without educating themselves first. Rule number one. Virgin unmined ground is usually that way for a very simple reason - little to no gold.

 

The worst case I saw I wrote about in the journal. A guy bought a claim that had been totally worked out over the yrs. Not a yard of good virgin ground. He was told all kinds of BS & it had a small Plan of Operation in place. He paid $60,000 for the claim and went out & bought $300,000 worth of mining equipment. Gold recovered? Less than 2 ounces.