Nuggets of News Blog 

Ever wonder how much gold has been mined in all the world? The best estimate at the end of 2011 is that around 165,000 metric tons (or tonnes) have been mined in all of human history. That’s about 181,881 ordinary tons or 363,762,732 pounds, or 5,820,203,717 ordinary ounces. Gold typically is measured in troy ounces, which are a little bigger than ordinary ounces (a troy ounce is 31.1034768 grams whereas an ordinary ounce is 28.3495231 grams). There are 32.1507466 troy ounces in a kilogram or 32,150.7466 troy ounces in a metric ton.

Over half of the gold that is mined gets used for jewelry. 18% constitute official  holdings (as in central banks of nations), 16% take the form of  investments, 12% is for industrial uses, leaving 2% unaccounted for. Since jewelry is the most common use of gold, gold consumption worldwide  is most easily gauged by gold jewelry consumption. India is far and away the biggest consumer of gold, followed by China, the USA, Turkey, Saudi Arabia and Russia.

As for the amount of gold that's used for monetary and investment purposes, In 2011, about 2,100 metric tons of gold appeared in what are known as exchange-traded funds (ETFs). As of 2009, the International Monetary Fund (IMF) held 3,217 metric tons  of gold. In 2010, the central banks of nations held a total of 28,398  metric tons of gold.

Statistics can be interesting but the burning question on prospectors' minds is "What's happening with gold prices?" Since gold prices have TRIPLED in the last 10 years and gold  price trends since 1900 continue to point up, there's never been a better time to find your own gold! And with the price of gold skyrocketing, you don't have to find much to  completely pay for your equipment— and the rest is pure profit! 
 
Source: All the World's Gold

What's the Difference Between a Karat, Carat, and Carrot?

The purity of gold is measured in 24ths called karats. 24K gold or 24-karat is 100% pure gold. 18K gold or 18-karat is 75% pure, and 14K or 14-karat  is 58.3% pure. The value of gold can further be determined by its rarity of structure-- whether it is a nugget or wire gold or has specimen value.

Gemstones are weighed by the carat (notice the difference in spelling) -- which is 200 milligrams or one-fifth of a gram. There are 5 carats in a gram. In addition to weight, the value of gemstones is also set and judged on their color, clarity, and cut.

If you're hungry, choose a carrot!

Whether you've been detecting for years or are considering the purchase of your first detector, you want to be as comfortable as possible, for as long as possible, when you're out in the field swinging. No matter the brand or model you are using, detector ergonomics comes down to three things: how your hand grips the detector, the weight and balance of the detector, and the ability to adjust the handle length. A machine with excellent ergonomic design means less strain on your wrist, arm, shoulder, and back.

• There are two types of handle designs used by detector manufactures:  the “L” shaped handle and “S” shape. Most detectorists find that the “L” shaped handle helps to reduce the load on the wrist when you swing the search coil. In contrast, gripping the “S” shaped handle tips your hand slightly downward. This slight downward tilt of the hand could put an  unnatural strain on your wrist and forearm, and over time could extend to your shoulder. It's really a matter of personal preference and comfort, so just be aware of the two handle designs and which might work the best for you.

• The second ergonomic issue is the weight of the detector and how the weight is distributed on the detector’s handle when batteries are in place. A well balanced  detector will have equal weight before and after the  grip, which is the best possible situation for swinging the search coil for a long period of time. For the “L” shaped handle, the electronics are placed directly above the hand grip, and usually the batteries are placed under the forearm for added balance to the overall assembly. This brings the balance point very close to the hand grip, but still slightly forward of the grip point, which is ideal.

• The ability to adjust the lower handle to the correct length for good upright posture while swinging the  search coil cannot be over-emphasized. This adjustment will reduce strain on your  shoulder and back. Improper adjustment can cause you to bend over  while swinging the coil and may result in lower back pain. Ouch!

Other ergonomic issues to consider for maximum comfort and enjoyment while detecting is the audio controls. The  audio output should be stereo and the volume control should cover a wide range so when you hear a signal, you can discern what the target is made of. Also, if your detector has an LCD display, the display information should be large and readable, even in bright sunlight.

Several top metal detector manufacturers such as Garrett, Fisher and Tesoro have perfected the modern art of metal detecting. With each new machine that comes to market, the features and success rate just keeps getting better. Learn more about metal detecting here.

Did you see the article we wrote for the Sept/Oct 2011 issue of Gold Prospectors magazine about Idaho's Silver Valley? If you're a member and get the magazine, check out pages 20-26. The Silver Valley is packed with fun family activities such as underground mine tours, mining museums, and you can also camp, hike, bike ride, ski, hunt for star garnets, prospect, and even visit the oldest standing building in the state of Idaho— the Sacred Heart Mission located in nearby Cataldo. If you're not a member of GPAA and don't get the magazine, download a .pdf of the article here to learn more about the Silver Valley's 120 years of mining history.

Fool's gold, iron pyrite, mica... no matter what you call it, at first glance it looks like real gold and sparkles like real gold in the sunlight or when viewed under water, but how do you know FOR SURE if those gleaming flakes are worth something... or exactly nothing?

The quickest and simplest test is to examine your sample in the shade, not in the sunlight. Real gold retains its yellow sheen even in shadow, whereas fool's gold does not.

Also keep in mind that gold is one of the heaviest elements known. Pure gold has a density (specific gravity) of about 19, which means that it weights about 19 times as much as an equivalent amount of water. On the other hand, mica, often mistaken for gold, has a specific gravity of about 2.3. Real gold sinks to the bottom of a gold pan; flakes of mica typically float.
 

In response to customer requests, AT Pro metal detectors being manufactured by Garrett now feature an upgraded stem configuration. This new upper stem configuration moves the AT Pro’s armrest farther back on the user’s forearm and also includes a new middle stem with camlock fasteners, adding extra stability to the detector during use.

If you purchased your AT Pro detector BEFORE JULY 1, 2011, you may ship your detector back to the Garrett factory in Garland, Texas to get the AT Pro Optional Upgrade / New Warranty Package for only $39.95.

This AT Pro Optional Upgrade / New Warranty Program is available for any AT Pro received at Garrett’s Garland factory before December 31, 2011.   Here's how it works:

• Send your AT Pro detector to the Garrett factory with a check or money order for $39.95, or you can pay via a credit card upon receipt of the detector at Garrett.
• New upper stem with extended armrest will be added.
• New middle stem with camlock fasteners will be added.
• All AT Pro components (searchcoil, electronics, fasteners, etc.) will be inspected and, if necessary, repaired or replaced.
• Revised AT Pro detector is shipped from Garrett back to you at
Garrett’s expense (you pay for original shipment to Garrett).
• Once this preventative maintenance / upgrade work is completed, your AT Pro metal detector will include a new 2-year warranty, effective from
the date the unit is shipped back to you (new 2-year warranty replaces any existing Garrett warranty.)

The value of the upgrade, preventative maintenance work, replacement parts, and extended warranty is $79.95, however you pay a fixed price of only $39.95!

This offer is available directly from Garrett, and not from Garrett metal detector dealers. For more information, call Garrett toll free 800-527-4011 or visit their website www.Garrett.com

Simply put, gold comes from rocks. Huge rocks, in the form of mountains, are pushed upward by heat and pressure from deep inside the earth, and then the rocks are worn down by wind and water. Through water erosion, gold often becomes separated from the rocks, forming the rich placer deposits we're all looking for.

The kind of mountains that are most likely to contain gold have been subjected to earthquakes. Earthquakes produce "faults" which are places where the tension of the growing mountain became so great that part of the ground pulled away, leaving a long scar. Locating a fault line or "outcrops" (ordinary soil pockmarked with monoliths and low ridges of sold rock) are important to prospectors because these areas often point to places where minerals were thrust into the rip in the earth during a geological event. Normal erosion washes gold into waterways below, and gold being heavy, settles naturally along the way— on the inside edges of bends in the stream, in whirlpools where two creeks join, in and around natural obstructions such as rock crevices and boulders, in the roots of river plants and trees. Gold is often found mixed with concentrated strata of fine black or red sand. Black sands that are iron oxide are magnetic. Red sand is composed of tiny crushed garnets.    

Water and sunscreen have a sneaky way of slipping rings from fingers of swimmers and sunbathers, making beaches a lucrative location for metal detecting. Recovering an object from sand is pretty easy, too, especially compared to digging in hard ground. Necklaces, watches, and bracelets are also great finds on beaches, along with coins— lots of coins. Although some beaches can yield historic artifacts, most finds will likley be of the modern variety.

WHEN TO GO. Purist beach detectorists will argue that the best time to find goodies on a beach is after winter storms. While that’s certainly true, summer crowds can mean a fresh crop of coinage and jewelry just waiting to be found by the average beachcomber everyday.

WHAT TO TAKE. Beach hunting can be done on the dry sand or out in the water where many more rings are lost. Salt water beaches present special problems (mineralization) and you must determine if you will hunt only in dry sand, dip the coil under water in the shallows,  or desire a totally submersible machine suitable for deep water wading or diving. All quality metal detectors have submersible search coils but not all control boxes are waterproof or suitable for the pressures of deep water diving, so match your detector to the type of detecting you’ll do.

In all types of beach hunting, the discrimination must be kept very low, eliminating only small iron (bobby pins and nails). Aluminum pull tabs and tin foil should not be discriminated or you will lose some gold and/or platinum rings as well. Some beach hunters operate with zero discrimination and dig everything. Use of a sand scoop makes target recovery fast and easy.

If you plan to hunt only in dry sand and in very shallow water, a good coin shooting detector will work well if you...  article continued here