This year has been a phenomenal for the price of gold and silver. Both have hit new all time highs with silver surpassing $61 per Troy ounce in the last two days. Gold is up to $4,225 per Troy ounce, and has been surging up the charts again in the last few days as well. It's an exciting time to be a stacker of both gold and silver! If you don't do so yet it's never too late to start.
A great way to invest in small amounts of gold are the Goldbacks. They have micro amounts of gold deposited directly onto a bill with intricate artistic designs celebrating states in the US that allow the use of gold as a means of payment. The latest release in the series was for the state of Arizona, which I know well having lived there for several years. It's a state rich in precious metals and a strong history of mining.
The Arizona 25 Goldback celebrates that history featuring woman prospecting for the Lost Dutchman Mine. It contains 1/40th Troy ounces of pure gold deposited onto the back of the artwork. It's a beautiful design that perfectly fits Arizona!
Image from jmbullion.com
I'll be adding one of these to my collection in the near future. Right now this one runs just over $200, but they also produce smaller Goldbacks from 1/2 (1/2000th Troy ounces), and larger ones all the way to 100 (1/10 Troy ounces) of pure gold. They are do carry a bit of a premium as they are expensive to produce, carrying the precise amount of gold and security features to prevent fraud.
They are a great way to start investing in gold as the smallest ones only cost just over $4!
Part of the reason I chose this particular Goldback is because I am a treasure hunter as well as a gold prospector. Having lived in Arizona I've heard all about the infamous Lost Dutchman Mine!
Lost Dutchman Mine
thedyrt.com
Above you can see a view of the Superstition Mountains located east of Phoenix, Arizona. It's a beautiful desert wilderness area that I've visited many times over the years. There are a lot of great hiking trails and beautiful rock formations. I recommend sticking to the trails as it's very rugged and can be dangerous, also visit in winter as summer is way too hot!
The Superstitions are also famous for the Lost Dutchman Mine, a mine so rich in gold it could be worked by hand according to the legend, or it may have been a cache of gold from an old Spanish mine. At the heart of the story is Jacob Waltz, a German immigrant, who headed to Arizona with hopes of striking it rich by prospecting. It was said that he sold $250,000 worth of gold to the US Mint in the 1880's and owned a farm in Phoenix. After a flood hit his farm he contracted pneumonia and prior to his death gave the exact location of his mine to friend Julia Thomas who was nursing him in his last days. She later unsuccessfully searched for the mine and eventually sold maps with instructions to the mine for $7 each, that was a lot of money at the time!
The story likely would have simply faded into history if not for treasure hunter Adolf Ruth who searched for the mine in the summer of 1931. He vanished into the mountains and six months later his skull was found with a bullet hole in it, along with his possessions. Among them were his journal stating he had found the mine, but shortly thereafter was murdered. This cements the veracity in many peoples minds.
There are non believers who argue Waltz simply worked at the very productive Vulture Mine, however there are no records that he ever worked there. Some argue he was a fence for employees of the mine who smuggled out gold, which was common as the mine was poorly managed. So your guess is as good as mine!
At any rate the Dutchman Mine is still lost. Is it possible it was intentionally buried or a rock slide covered it up? Very possible, or it may not have ever existed... Your guess is good as mine!
The Vulture Gold Mine
livescience.com
The Vulture Gold Mine in Wickenburg, Arizona was one of the most successful mines in state history. In 1864 Henry Wickenburg, a Prussian, filed a claim and started to work a patch of gold rich quartz. It quickly was very profitable and soon they piped in water from a river 15 miles (24 km) away to process the ore. They were digging shafts so quickly the lumber supply was continually having to be shipped from out of state. Despite problems with theft, lack of labor, and supply lines, the mine became massively profitable.
It operated at full capacity until World War II when man power was decreased due to the war. It's often said to have ceased operations at that point but was untrue. It continued well into the 50's and 60's at limited capacity as profitable gold veins were drying up. In the 1980's it was once again worked and was breaking even financially, but no profits eventually led to shutdown. It currently sits unworked and a ghost town although is owned by a gold mining company.
You can take self guided tours of the property at your own risk, I personally never have despite having driven through the city before several times. Old mining properties can be dangerous as there can be hidden shafts or unstable tunnels underground that can collapse taking you for a ride. But still it might be fun to have a look the next time I'm in the area.
rareingot.com
An original gold bar produced at the Vulture Mine
That will wrap up my post for today, I do hope you enjoyed it! Please feel free to leave any comments or questions below, and thank you for all of your support. I really do appreciate it! Have a great day everyone!
References:
https://www.jmbullion.com/25-arizona-goldback-gold-note/
https://en.wikipedia.org/wiki/Superstition_Mountains
https://en.wikipedia.org/wiki/Lost_Dutchman's_Gold_Mine
https://westernmininghistory.com/3747/vulture-mine-history-fact-and-fiction/
Disclaimer
I am not a financial planner and this isn't financial advice. Please always do your own research before investing your money. You worked hard enough to earn it!
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