Thursday, May 10, 2012

Pssst. Hey Buddy, Wanna Buy A Gold Mine?

Here is an opportunity for you to buy a gold mine in Arizona. It could make you rich. The catch is you have to be quite rich in order to take advantage of this property and the gold it might contain. The Gold Hill property consists of 117 acres just north of Scottsdale, AZ. Asking price? $43,000,000.00. Not exactly for weekend prospectors. You can see the listing at Gold Hill Listing. There is a six-minute video on YouTube where you can see more about this historic (discovered in 1874) property. You can find it at Gold Hill video plus more reported by an Arizona paper found here. Who knows, this mine might hold another Hand-Of-Faith, the 875 troy ounce (61lbs., 11ozs.) nugget proudly owned by the Golden Nugget casinos.

In February, 2012 I was visiting a friend in Quartzsite, AZ. While there, he took me to a couple of gold claims he had (legal) access to. It was anything but glamorous. It was fun to see but not my cup of tea. I give credit to those men and women, boys and girls who are out prospecting for gold on a dedicated basis. By the way, my friend has not found anything of significance after spending a fair amount of hours out in rattlesnake country. The payoff is nice with gold hovering around $1600.00 but you have to find it first!

Another Gold-To-Go machine at another Golden Nugget Casino

The Golden Nugget Atlantic City joins its Las Vegas sister property in hosting a gold-dispensing ATM officially known as a Gold to Go machine. Opened for business on April 26, this machine reportedly offers both gold and silver coins and bars (when I last visited the Las Vegas Gold to Go in February of 2012, only gold items were offered). Only cash is accepted at this time which, to my way of thinking, would discourage a larger item purchase. How many people are willing to feed in 18 $100 bills to get one ounce of gold? I made a small purchase in Las Vegas over a year ago (picture at left) but more for the novelty of it. No word if purchases from the New Jersey machine are subject to the state's sales tax. Purchases in Las Vegas were but no longer. You can read more about it here.

The battle continues between the paper gold crowd and physical gold crowd regarding the spot price of gold. And the paper gold crowd is/are winning at this stage. Spot gold at the time of this post is $1585.90. Gold is hanging on to a gain of just $69.80 over the last year. Will we see the rosy projections of $2000 and beyond in 2012? Only time will tell. Here are the totals for the first 10 days of May and year-to-date.

one-ounce gold eagles - 31,500, year-to-date 212,500;
half-ounce gold eagles - 0, year-to-date 51,000;
quarter-ounce gold eagles - 0, year-to-date 42,000;
tenth-ounce gold eagles - 0, year-to-date 135,000.

Silver Eagles are at 435,000 for the month so far and 12,094,000 year-to-date.

Thanks for reading. Keep the faith.

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