Do many people recover costs of metal detector from gold finds?

[Rshaules]

Hey everyone! I'm a newbie, and have been doing some researching on metal detectors and gold prospecting on the West Coast of Tasmania.

I'm beginning to understand that a 'decent' detector (such as SDC 2300) is going to set me back a few thousand dollars, and that some out there recommend not purchasing an entry level detector (such as the Fisher Gold Bug Pro or Garrett AT Gold).

As this is quite the investment, I'm curious: for those that have made large investments in metal detecting equipment, do many of you recoup costs from your prospecting finds?

I understand that not everyone is a prospector strictly out of a desire to make wads of cash, but I can't help but wonder if many do recover some of the costs involved with setting up equipment...

Your comments may help justify to my loving wife why the purchase of an SDC 2300 is better than a Gold Bug Pro

Thanks!

 

[Rockhunter62]

Hey Rshaules,

We have purchased the sdc and as we have only used it on 6 occasions for the year we are on track to have it payed for with finds of gold by the time the warranty expires. The largest nugget to date with our sdc would be about 7 grams, yet to walk over a bigger one. The sdc: aka, blue hoover, will find most of the gold in the areas that we have gone to. I have used a gpz7000 in the same area and all the gold found with it was in the sdc's depth range. We detect in the Georgetown region of North Queensland.

Personally, I don't think that you could go wrong by buying the sdc. My wife, "the xxxxx with the pick" was very sceptical at first but has agreed that it was a good investment. As a beginner I would recommend that you do not think about the Gold Monster 1000 as it needs a fair bit of finesse that we have not mastered yet.

Have no comments on the Gold Bug Pro as I have mainly only used Minelabs.

Hope this helps

Cheers

Doug

 

[dam it]

the SDC is Awesome Detector
Is very good on the small nuggets
But depending on where you are
and how much time you spend in the bush .
And has pretty good resale value .

 

[Ridge Runner]

Very true comments indeed, I hunted/search for years and found very little and I bought another detector and it paid for it's self in the first day, Getting a machine to pay for it's self can be done but you have to be out there 24/7 but for 95% of us that is more of a dream than a reality, and then you have to factor in what you have spent or need to spend in order to make such finds, I think the key to success is a good machine but most of all good research but until you make a big find you should just go out and enjoy your self, Worrying about finds will not help but you can have a lot of fun trying and that can be worth more than Gold when shared with family and friends.

J.

 

[grubstake]

...My wife, "the xxxxx with the pick" was very sceptical at first but has agreed that it was a good investment.

"chick"?

 

[Matt80]

A good detector can pay for itself, but only if it has good enough ground to work, enough time to work it and an operator willing to put in the effort.
The guys(and girls) that spend heaps of time in the field and travel around a lot will likely have little trouble paying them off, but others in crappy parts of the country or who just don't have the time or ability to travel enough will likely only have a very expensive dream... I better have a long life or quit work if lm ever going to pay off all my toys with gold.

 

[Lanky]

and then there's the 4wd, gps, sat ph etc etc! ya gotta love it!

 

[madtuna]

and then there's the 4wd, gps, sat ph etc etc! ya gotta love it!

hopefully the detector pays for all that :Y:

You get out of it what you put into it.
If you want to get rich... get a job. If you want a lifestyle... become a prospector

 

[BigWave]

I'm told that in order to make a small fortune in prospecting, you have to start with a large fortune

 

[Jaros]

Like that one!!! :lol:

 

[Lesgold]

Hi Rshaules,

Being new to this game, I did ask myself the same question 2 months ago. Do you want to make money from gold? If the answer is yes than you should be prepared to change your lifestyle, travel and put in countless hours of research and time with a coil hugging the ground. A very good detector is a must in that case. If you want to put time into the hobbie, spend a lot of hours enjoying the outdoors and find some gold, a very good detector is a must. If you want to spend some time outside and enjoy our wonderful environment, buy a cheap detector. You may find a piece of gold at some point in time but you would need to be very lucky. I would suggest that you would lose interest before that occurred. It is a lot of money but when you compare it to other hobbies such as golf or fishing the cost is not that high. There are very few ongoing costs associated with detecting so it becomes a cheap long term investment. Good quality detectors maintain their value. They are generally quite easy to sell if you get bored with the hobbie. My interest in prospecting started earlier this year. I started with a $25 gold pan. Learnt a lot from that and then the fever caught me. (I still love the panning) Consider panning as a starting point before you jump in. You will find out very quickly if this hobbie is for you. After a few months you will answer your own question.

Hope this helps.

Oh, by the way, have heard the saying "happy wife, happy life"

Try saying "a happy man spoils his wife"

Cheers

Les