What Is the Best Part of the Country for Gold Investors to Live?

Recycle and Refine GoldRecycle Precious Metals
Written By Barry Lenson

The question that we chose to be the title of today’s post – “What Is the Best Part of the Country for Gold Investors to Live?” – probably seems a little puzzling to you.  After all, if you invest in gold scrap (or silver scrap or platinum scrap for that matter), what difference does it make where you live? You can call our precious metal recycling advisors from wherever you live, send us your scrap. And of course, we will send your payment wherever you live.

But wait a minute. Is the question really one you should ignore?

Apparently not! We recently found a fascinating U.S. Government document that was published back in 1968 that provides a lot of information about where gold can be found in our United States.

This publication is called “Principal Gold-Producing Districts of the United States: A description of the geology, mining history, and production of the major gold-mining districts in 21 states.” It is the U.S. Geological Survey publication #61, and we are sure you will find a lot of interesting information in it.

The Start of Gold Mining in the United States

Just this excerpt from the paper’s introductory Abstract is pretty doggone interesting for people who invest in gold . . .

Except for small recoveries of gold by Indians and Spanish explorers, gold was first discovered and mined in the United States in North Carolina in 1799. This initial discovery was followed by others in the 1820's and 1830's in several of the other Appalachian States. These States produced significant amounts of gold until the Civil War. After the discovery of gold in California in 1848, the Western States contributed the bulk of this country's gold production. New discoveries in widely separated areas in the Western States followed in rapid succession. From 1799 through 1965, the United States produced about 307,182,000 ounces of gold, which at the price of $35 per ounce would be valued in round numbers at $10,751 million.

Why Is It Useful to Know Information Like This?

The report offers not only information about the 21 states where gold has been mined in the U.S., but even county-by-county information on exactly where that mining has been done. If you live in Colorado, for example, what mining activity has taken place in San Juan County? Or how about White County, Georgia? Finding information like that in one downloadable government publication . . . well, it’s fascinating and potentially useful for precious metal investors.

Where Has All That Gold Ended Up?

Of course, when gold gets mined from the earth in one location, it tends not to stay there. It goes to wherever there is demand for it. One example? Gold that was mined in Alaska tends to end up on the East Coast, the West Coast, and in the cities of the Midwest. In other words, it goes to where wealthy people are.

But the distribution of gold – both what was mined in the U.S. and abroad – is worth thinking about as you buy and invest in gold of all kinds, including gold scrap. Here are some considerations:

  • Sources of gold jewelry - Gold jewelry can be found in all parts of our country and the world, but it stands to reason that you will find more of it in cities. One example? You will find more gold jewelry for sale in New York’s Diamond District (located on West 47th Street) than you will find in come entire American cities.

  • Sources of gold that was used in plating and industry – Again, this question is pretty much a matter of common sense. If you are looking for gold scrap that was used to make gold-plated jewelry in factories, you need to follow the clues to find businesses and factories that are (or were) involved in those industries, no matter where they are. (There could be a jewelry manufacturer in your Midwestern city, or in the middle of Vermont . . .  anywhere.)

So Where Is Gold Found Near You?

You can find part of the answer to that question by studying the history of your state. You can learn still more by simply being curious, which can mean visiting antique malls, estate sales, business auctions and other potential sources of gold and gold scrap.

But one thing for certain? There is plenty of gold out there waiting to be found. And when you do, give us a call at 800-426-2344. Our experts are here to answer your questions and explain how you can turn your gold discoveries into cash.

Barry Lenson
Previous

Platinum Group Metals Update
Next

How to Buy Precious Metal Scrap for the Lowest Prices Possible