The idea of striking it rich by finding gold may seem like an outdated dream. After all, the great gold rush is long past. However, there may still be promise in the field of gold prospecting. Before you invest in prospecting supplies and head out to begin your prospecting journey, it’s important to learn whether it’s worth your time.
The Value of a Dollar
One of the biggest reasons gold prospecting can be worth your time is the value of the dollar. When paper money was first introduced, it was basically a promise note that entitled the holder to a specific amount of real gold or silver stored in the U.S. vault. However, times have changed. The government continues to print money, often without the appropriate amount of gold and silver to back it up. This causes the overall value of that dollar to decline. When you’re holding real gold in your hand, however, you have true value. The gold nugget you have in your possession is worth exactly its weight in gold and will continue to hold that value in relation to the fluctuations in the market.
It Holds Its Value
The beauty of finding gold is that you know it’s valuable from the start. However, if you continue to hold onto that piece of gold, you are likely to find the price will rise overall. The market will fluctuate between highs and lows, but on a general scale, the numbers will be rising. The same isn’t true with the paper money or coins you’ve deposited into your bank account. Because the government is able to print new money on command without the gold and silver to back it up, they often bring down the value.
Going Back to the Old System
It is thought the only way to harness hyperinflation and bring back stability to the dollar is to go back to a system of backing it all up with precious metals. While this isn’t likely to happen in the near future, there is value in gold prospecting now to prepare for this time. When this change occurs, the cost of gold will increase dramatically, and most people will only have their now worthless paper money to use. For this reason, finding gold now can equal great returns in the future. In addition to prospecting, it may be beneficial to consider buying gold while paper currency still has its value.
The idea of prospecting for gold can be tempting, but is it really worth it? The answer lies in whether you find any, but if you’re interested in making money, yes, prospecting can still be well worth your time. Because of the stable value of gold and the possibility it will again become the foundation of our currency system, finding gold can still be the money maker many people dream of.
If you’re interested in gold prospecting, contact us. We can provide the valuable information you need to get started and maximize your odds of success.
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