Anyone here ever tried their hand at panning for gold? Found a 20 acre claim in rural Oregon for $350. Thinking of going for it.
You likely won't make your money back.
I do. I don't have a claim though but I do stay away from people who do.
>>750363
Are you insane? You don't think there's $350 worth in 20 acres? Granted it's a matter of finding it but I bet in Oregon that isn't too difficult.
OP, how long is claim good? Lifetime rights as normal claim or....?
NOGERO
>>750403
I believe it's a lifetime claim but it's only for the mineral rights. The land itself is BLM land.
>>750425
You'll have to reclaim the land after too, which eats into profits. Claims are also usually for a set number of years which must be renewed. Also who buys a fucking claim without seeing the past workings and seeing receipts for gold sold from it.
>>750443
>who buys
For $350 I would in a heartbeat. 1 good day any you've tripled your $
If you never find a thing you paid $350 as a membership fee to /out/lands.
Worth every penny to me.
>>750356
went panning for gold with school once 15 years ago
>>750465
>1 good day any you've tripled your $
What? The pro and semi-pro dredging setups in Alaska find a few ounces a day on a good day.., an gold is at like $1200/oz.
>>750502
Exactly. 1 good day is 3X the investment.
$1200/oz
$1200 --- one ounce.....
Everything after $350 is bonus. Bonus is good.
>>750356
Can anyone recommend some good videos on gold panning?
>>750356
Chances are that the claim has been worked with machinery until it was no longer profitable. The good news is, they have to pull quite a bit to make a professional dredging operation profitable, so what's left over can sometimes be worth it to a hand panner who's just doing it recreationally.
You won't get rich, but you'll still get paid to have fun while /out/.
>>750403
Sure there's probably a small amount there, probably more than $350, but considering all of the work etc, you probably won't make anything. Don't you have to pay taxes on the land too?
So hold up, your telling me you can buy 20 acres of land for 350 bucks? Good or not, why not just buy the claim and live there??
>>750755
I don't know if there's other taxes involved, but mineral claims aren't property ownership, so there shouldn't be property tax, and since gold isn't legally a currency anymore, just an asset, you only pay income tax on it when it's sold, so you could effectively wait until you retire, and sell only enough to keep you in the tax bracket you want to be in.
>>750502
That's using a dredge though...how many pounds of earth can a dredge move in a day? 2000? 5000? All for 3-4oz.
>>750916
He bought the mineral rights, which doesn't even give you any legal right to mine or dig, you need the land owners permission first.
>>750962
BLM dork
>>751011
My bad haha, here in Canada BLM land is sort of like Crown land. Land reclamation fucking sucks, you have to return it back to the way it was and clean up your mess so it looks like you were never there.
>>750731
https://www.youtube.com/user/ghosttownhunter
>>750356
I'll give you $400 USD for the claim OP.
yeah you go guy
>>750356
I've done a bit of panning. I don't have a claim, I either pay a couple bucks to work other people's claims or I pan on land that's not claimed.
The price on that claim isn't bad, I've seen good claims selling for up to $100,000. It probably doesn't have gold on it though. So really it's your call. I think there's good panning on the Rogue River in Oregon but I don't know of other places there with any gold worth bothering with. Most of the country doesn't have gold, and a person can still claim land even if it's worthless.
Personally I wouldn't buy it if there's no gold already found there, you probably won't find any. As other anons have mentioned, you don't own the land and you have to pay a couple hundred dollars a year to keep the claim on it.
>>751224
>Land reclamation fucking sucks, you have to return it back to the way it was and clean up your mess so it looks like you were never there.
this is true in the US as well.
generally you have to get permission from the government to move more than a couple yards of dirt, and you'll have to post a multi-million dollar bond to cover reclamation work. Not a problem in most cases if a person is just doing some panning, but the instant you bring in motorized equipment you're probably going to need millions of dollars and a staff of lawyers to do anything.
>>750623
This has to be bait
>>750356
Well, even if you don't find any gold then you'll have 20 acres to mess around innawoods on under the guise of "looking for gold".
>>753247
>you'll have 20 acres to mess around innawoods on under the guise of "looking for gold".
you don't need a claim to do that.
also you can't stop other people from using your 20 acres for anything other than mining.
If I want to camp on your claim and hunt and fish and hike there I can. It's not your land, you only get the gold.
>>750356
What part of Oregon? I'd definitely do it btw.
One time my dad was fishing on the John Day river and he turned over some rocks looking to match the hatch and found a gold nugget the size of a raspberry. Spent the rest of the day searching and found two more the size of peas.
