Question by BMW M6: Should I invest in this??????????????????
Alright, I am 15 years old. I really need to make money but I have no idea how. I have tried everything. Any jobs I would get would not provide a steady source of income that I need. You have to be 16 to work anyways. I have tried online surveys but it is not worth if.
Anyways, I'll get to the point. After checking the price of gold today, it made me wonder. Could prospecting pay off some day? Now, I live in California, I live close to motherlode county etc. I went to a river with my friends one day and I started panning. I found an area that looked good for panning and after about 3 hours of nonstop panning, I had a little under a half gram of flakes. That is not worth that much but hey it's money.
Now, If I wanted to get serious about this, I could invest my money into prospecting equipment, dredges, drywashers, pans, sluice boxes, a metal detector etc. If I did this, I could work that river all summer long and see how much gold I would have in the end. I could possibly even find a large nugget but that would be very rare.
I have no idea how this would go though, it would be a complete gamble but it could possibly be worth the money in the long run.
What do you think about this?
Best answer:
Answer by Blake Pardey
My father is a pretty serious gold prospector. He has been doing it as a regular hobby for about 5 years and is a member of a gold prospecting club. Over 5 years he has found about 00-00 worth of gold - but he spent about 00 on a top of the line metal detector. I think that most of the gold that is easy to find has already been found. So I think that gold prospecting should be considered a hobby rather than a serious money making activity. If you have the gold bug and you enjoy it, then go for it and best of luck with it. But there may be more profitable activities that you could put your time into - when I was your age I did music tutoring and made quite good money from it. When I was a bit older I did maths tutoring. Maybe you could brainstorm 10-20 ideas of activities you could do to make money (washing cars, mowing lawns, tutoring in your area of expertise etc.) You could ask family and friends for other ideas if you can't think of them yourself. Take care...........
PS - Hey BMW. If you like my answer then please award me best answer as I am trying to get the points to get to level 2. Best of luck earning that money for your BMW M6!
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Originally posted 2011-07-27 05:09:36. Republished by Blog Post Promoter