Living the dream . Fulltime Fossickers .

[Diggerdude]

Great Thread idea.

I think one of the main things stopping people is family. As one poster just said if you have kids...forget it. Not sure it's a lifestyle to take a wife or GR on either.

I went to one of the Miner Den's free detecting classes. More of a buy Minelabs only hour actually. One of the guys was showing off his nuggets...as you would.

He said he's found 13 oz in the past 6 months. He said it with pride and I must admit that's a lot of gold. However, let's pro-rata that for the year and say 25 oz. Spot prize is $1,300 a oz. Add 50% premium for nuggets. You have about 50k.

That's not too bad but, it's not great...the amount of work...walking...weather and let's be honest. Danger and loneliness.

Lot's of pluses though...walking... weather and let's be honest. Danger(fun) and being alone.

Then you figure you hit a dry patch with no luck for 3 weeks. Or find a 8 ozers. Mentally that would be a ride. It's one thing to sit and type in on the keyboard...but to be out there 10 hours a day. Wow.

You'd need a decent camper/RV 30k-50k. and savings. Can the RV's store enough meat in the freezer for 2-4 weeks? That' would be my weak leak...I'd walk into Coles in tears...you guys take Gold nugget? I need steak!!!

50% nugget premium!!!!
Can I please have the details of your buyer!!!!!
I don't think to many are getting this type of coin.
Lee

Yet another fairy tale Lee, I have sold thousands of nuggets over the last few years and never received this 'premium'.

DD

 

[Diggerdude]

At least 3 grams a day?? Mind sharing the figures hiw you came up with this amount?

DD

I know you do it for real , what amount of weight do you think is needed per week to cover everything ?
You already have my respect DiggerDude

The only way to do it is by selling your house etc and getting rid of all bills mate. I only need $400 a week for food, fuel, beer and smokes. Anything over that goes into savings for a rainy day. These expenses are for two of us so could be reduced a lot if your on your own.
8-10g a week is easily manageable with two people. I only 'work' about 4-5hrs a day, I don't see any point in doing 12 hr days and taking the enjoyment out of it.
In WA the long term average is about 20g per week from my 4 hrs a day detecting, over the east coast highbanking/panning average is about 7-10g.

DD

 

[WalnLiz]

I have soldered clasps on well shaped flat 1 gram nuggets, added a 9ct gold chain and sold them for over $100. Can be done if you're prepared to be creative with jewelery, but like DD says....won't get that from a gold dealer.

Wal.

 

[Guest]

3 grams/day & you will be able to get the premium nuggets :lol:

 

[nuggetino]

At least 3 grams a day?? Mind sharing the figures hiw you came up with this amount?

DD

I know you do it for real , what amount of weight do you think is needed per week to cover everything ?
You already have my respect DiggerDude

The only way to do it is by selling your house etc and getting rid of all bills mate. I only need $400 a week for food, fuel, beer and smokes. Anything over that goes into savings for a rainy day. These expenses are for two of us so could be reduced a lot if your on your own.
8-10g a week is easily manageable with two people. I only 'work' about 4-5hrs a day, I don't see any point in doing 12 hr days and taking the enjoyment out of it.
In WA the long term average is about 20g per week from my 4 hrs a day detecting, over the east coast highbanking/panning average is about 7-10g.

DD

Great to hear from you Diggerdude as one of us who's lucky enough to be there doing it and share your experiences is a very valuable insight for us to follow. I think I've got a similar budget planned at $400 a week but will be solo so will go ahead and eat my eat my girlfriends share :lol: If you can split the workload and get away with 4-5 hours a day that sounds amazing. I'm more than happy to put in 8-10 hours a day. Prob start detecting at 4am and knock off at noon-lunch(I'm a baker by trade)
I'd imagine you know the gold country like the back of your hand and are doing MUCH better than most newcomers. Can I ask you do you work a single patch or are you finding yourself constantly having to move around in search of new ground? Do you use a quad bike+drag coil set up to find patches and does your income come solely from detecting when in WA.

 

[GOLD Billyen]

Great Thread idea.

!

50% nugget premium!!!!
Can I please have the details of your buyer!!!!!
I don't think to many are getting this type of coin.
Lee

I've been watching nuggets on eBay the past 3 months. 30-50% (50% on some, not everyone) is the range . I was shocked to find out there was any premium at all. From my research, it really depends on the nugget and size. I was watching Gold Fever last week and a 100 oz for for $400,000!! in the US at auction. Almost a 200% premium.

 

[GOLD Billyen]

Lol GOLD Billyen you do make a good point and that it isn't a lifestyle suited to all and yeah I am a young lad under 30 with a history of backpacking so don't need too many creature comforts. How about buying a load of canned meats and beef jerky? I have a picture in my head of you standing by your RV (with heavily fortified BULL bar) along a desolate road side in the outback explaining to a distressed station owner you normally wouldn't have run over his cows for fresh steak but the nearest coles is simply too far away :lol:

What a good idea. I must have passed 10,000 cows on the way to Tuena... So many cows...the farmers not going to miss one...is he?
Yummy!

 

[Twapster]

FYI I purchased a 1/2 gram nugget on ebay for $40 so someone out there got over spot price with my purchase, and there weren't many any cheaper. So id say nuggets do fetch a premium in a lot of circumstances.

 

[Mr Boring]

FYI I purchased a 1/2 gram nugget on ebay for $40 so someone out there got over spot price with my purchase, and there weren't many any cheaper. So id say nuggets do fetch a premium in a lot of circumstances.

Sorry if that was one of mine Twapster, I start at 99 cents and the let the auction go. $70 to $100 per gram is not uncommon, although, just the other day I sold a .25 for $5.50. $313 per gram is my record price on ebay, Sold a 4.42 for $305 just yesterday

 

[GOLD Billyen]

FYI I purchased a 1/2 gram nugget on ebay for $40 so someone out there got over spot price with my purchase, and there weren't many any cheaper. So id say nuggets do fetch a premium in a lot of circumstances.

Sorry if that was one of mine Twapster, I start at 99 cents and the let the auction go. $70 to $100 per gram is not uncommon, although, just the other day I sold a .25 for $5.50. $313 per gram is my record price on ebay, Sold a 4.42 for $305 just yesterday

Gold nugget fever.

 

[Twapster]

I really wanted exactly a .5g nugget, so was happy to pay. lol