DailyDirt: Gold Doesn't Grow On Trees…

from the urls-we-dig-up dept

The gold rush seems to be over — for now. The price of gold hit a 5-year low recently, and the prices of other precious metals are also falling. (However, there are more industrial uses for metals like platinum and silver — while gold is largely either worn as jewelry or just sits in vaults.) Perhaps gold hoarders see an opportunity here to double down on collecting more, but it’s probably a better idea to diversify.

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Comments on “DailyDirt: Gold Doesn't Grow On Trees…”

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Mason Wheeler (profile) says:

Re: I agree, Gold is worthless.

The tale is told of a group of miners during the California gold rush who used mechanical equipment to separate gold nuggets from dirt and pebbles. Problem is, the machinery kept getting clogged by this obnoxious blue-grey dust.

A guy arrived on the scene who had some knowledge of the situation, and he offered to work for them to keep the machinery clean for a very reasonable fee. He’d even get rid of the clogging dust for them so they didn’t have to dispose of it. The prospectors thought this was a great idea!

Well, in the end, the prospectors never found all that much gold, but the cleaner ended up getting rich. He knew one thing that the prospectors didn’t: that nuisance dust was composed almost entirely of pure silver, and they were giving a massive amount of it away to him for free!

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