New York Gold Prospecting
Although there seems to be no commercial value in mining for gold in New York, there is still enough to intrigue gold prospectors. New York has never been known as a major gold fever location. Due to the lack of multitudes of gold and stringent land laws, the history of prospecting gold in New York has been shrouded in turmoil and mystery. However, despite the bleak prospects for prospectors, people still try their hand in the hobby of searching for gold. Gold in NY is spread out due to the fact that most gold deposits in the area are from glaciers. Mining for gold in the past has been a losing cause, because the gold and silver found in New York is often found in mountain streams. There is not nearly enough gold to support a gold mining industry in New York. Prospectors in New York are not in the hunt for the money. They do it for the fun of the search for this precious metal
History of Gold in New York
The history of gold prospecting in New York has been limited by the ‘Public Land Law’ that was imposed on gold and silver prospectors in 1776. This law enabled New York to be possessive of gold and silver that was found on public land. A rebel, “Dingle Dangle” Jones, once was successful in his prospecting efforts and he sent quality gold to assessors for assay. He found this gold in the Ice Cave Mountain area, but went missing on a fur trapping trip before he could indicate where he had found the gold. Since then, between December 1791 and December 1997, there were over 11,000 discoveries of gold and silver have been filed with the office of the Secretary of New York State! Where there are traces of gold, there will be gold fever.
Gold and New York Geology
The gold that is present in New York is from glacier formations that uprooted gold deposits from underground during the last ice age. Over 10,000 years ago, these glaciers worked as massive rakes to the soil, exposing deposits of gold. Today, the best places to find these deposits are in the mountains. The soil in the mountains can be more gold rich because the glaciers helped carve the sides of the mountains during the last ice age. The best place to prospect for gold in New York is various streams, mountain sides, and caves in the Adirondack Mountains.
As of 1997, there is still a public land law that allows New York to claim property of any gold or silver found there. We will not discuss the loopholes and the extent to which these laws are enforced, but the issue shouldn’t be too big because no one will be making a significant amount of money from prospecting in New York. Prospecting should be considered a hobby, not an occupation. Unless there is a substantial find, no one will be making enough money to make a living off of prospecting. However, buying and selling gold in New York is a huge and lucrative industry to be involved in. Even though the state’s soil is not rich with gold, gold and other precious metals make people in New York state large sums of money. The value of gold is so high that we’ve entered an era of a new “gold rush”. Gold is less liquid than cash, but is a great way to invest and save your money. On the other hand, cash is an asset that has been inflating since the beginning of our monetary system.
The Gold Standard is a great place to sell your gold. Visit any of our 11 convenient locations on Long Island and Queens, or sell your gold online!