There Was PILES Of Silver -- BUT They Had To FIGHT For It.
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- Опубліковано 17 вер 2024
- #idaho #silverminers #silvercity
This video is about the old mining town of Silver City Idaho. It all started when a group of men were looking for the fabled Lost Blue Bucket mine. They never did find the mine but they did find a world class silver deposit. The town eventually grew to almost 3000 people and there is said to have been over 200 mines in the area.
It was back in 1863 that a prospecting party of 29 men were in the Owyhee region of southwest Idaho. These guys were looking for the fabled lost blue bucket gold mine. Now maybe there really was a gold mine called the blue bucket but this party fo men never did find it. However what they did find were silver deposits that would put this area on the map as one of the richest silver regions in the country.
At first this group of miners had staked a bunch of claims and were mining the creeks for gold. Word had gotten out about these alluvial claims and soon other prospectors were coming into the region. It wasn't until the creeks had been pretty much mined out of the easy gold that silver was discovered nearby and by the fall of 1864 the first mineable silver desposit was found. The ore from these deposits were reported to be $2,800 in gold and $7,000 in silver per ton. These assays were even richer than that of the famous comstock lode.
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Good mornin, thanks for the share. ...stay safe, cool and free. ⛏⚒⛏
Good morning and thanks for watching.
Another great story,thanks friend !
Glad you enjoyed it. Thanks for stopping by this morning.
Great story, keep them coming. Thank you.
Thanks for watching today. Appreciate it!!
Excellent mining history, thank you! Cool that folks still live there and it's being preserved.
You are very welcome. Thanks for watching today!! Appreciate it.
Interesting story as usual. Keep up the good work.
Thank you for the comment and thank you for watching.
I love these videos, keep up the great work
Glad you like them! New video every Saturday morning. Tune in tomorrow. Thanks for watching!!
Thank you
You're welcome. Thank you for watching.
It's that 60 million in dollars of that era?
I found that when most historical writings about when dollar values are mentioned, it's the amount of recorded gold or silver that was officially cashed into dollars through a mint or bank at the time. So I am assuming that when they mentioned 60 million dollars that would have been 60 million dollars recorded on the ledgers over the 70 years they mined.
I use to placer mine myself and I know a lot of miners who sold gold for cash and it was never recorded. Larger mines of course sell large quantities and will sell through the smelters or mints and all ounces are recorded. Mines will sell some or maybe all the gold for needed cash flow and may also hedge if they think gold price is going up.
Some old mine records will show total ounces that was extracted and not a dollar value. Most of these old mines were mining gold at around $18-$20 and ounce for years as the gold price never really changed until 1934 when the US government revalued it to $35 an ounce. That was a year after everyone in the USA was suppose to surrender their gold the year earlier.
I hope this sheds some light on the subject. I myself ask these same questions many times reading up on old historical information.
Thanks for watching this morning. Appreciate the feedback and the views.
@@oldlostminer very informative thank you that does answer my question.
Yeah it's nice when it's recorded in ounces cuz then you know exactly the dollar value relative to The present.
Crazy to think with the value of gold today is $2,500 125x gold at $20
The price we pay for a massive federal deficit.
Extralateral rights is proof of the sought mineral vein or deposit that is existing on your mining claims, is extending beyond your mining claims boundary lines, giving the first one to stake and file mining claims on the contested mineral vein or deposit, the extra lateral rights, but "below the surface only", and on all the mineral rights only on the same mineral vein or deposit below the surface, and without having to file mining claims beyond your existing mining claims. But this does not give you mineral rights to the surface of the land, only mineral rights below the ground surface. These underground mineral rights only pertain to the said mineral and metal vein or deposit. Extralateral rights did not give you the rights to underground mineral veins or deposits that are not an extension of your mining claims mineral or metal deposit, even when in close proximity to the extralateral rights you are claiming to have. Some underground mining at the same GPS surface location was underground mined by two separate non-affiliated companies, with mining out of two different non-affiliated mine portals The extralateral rights is usually contested in court with the court verdicts different for each court case because of the ability of only having to prove it is more likely than not, instead of proving beyond reasonable doubt. When the US Congress passed the 1994 Reconciliation Act, our Congress had invalidated or "wiped out" all of the 122 years of previous extralateral rights case law, with the extralateral rights replaced by the "new $100 holding fee" (more than double the price today), which also eliminated having to make a mineral discovery and assessment work, on or for, each mining claim. Today all us old school prospectors call the new "holding fee" nothing more than a "speculator fee" that eliminates having to prove discovery that a mineral or metal deposit exists (named discovery), before staking and filling a mining claim.
Hey thanks for all that information. Some future readers of comments will undoubtedly find a lot of that information valuable. Thanks for watching too. Appreciate it.
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Thanks for watching today. Appreciate it!!
That's the new economy 👌 Tourist attraction & then back to potential poverty 😶 It's a common theme here in Australia now !
Yes low paying service jobs instead of the high paying resource jobs but still the sky high cost of living. Thanks for watching.