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Fair price for Mining Claims?


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I am curiuos to find out what a fair price would be on 80 acres of land for unpatented mineral claims. Someone is offering it to me at $10,000 for all 80 acres. Fair price? Any input would be great.

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If it would support a commercial operation with maybe $100,000 in equipment and $300,000 in operating expenses, that's probably a decent deal ... By the way, it's not "80 acres of land" it's mineral rights on 80 acres of land... Otherwise, a big NO ... Cheers, Unc

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Having sold many claims to individuals and clubs I would say it all depends on what you intend to use it for and if the claim tests show your desired activity makes it worthy of spending the money on. The last claim we sold was 160 acres and sold for a lot less to a buddy who loves it. Some sell for more but always always test the claim and even ask others with more experiance test it before making the decision.

Also check to see if its FS or BLM land, it makes a huge difference what you can do on it and how much it may cost you to mine it.

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:eee: CAVEAT EMPTOR-BUYER BEWARE ALWAYS :cigar: seeing as your in florida and a looooooooong way to lands that are claimable I'd righteously suggest you spend a ABSOLUTE minimum of a week on the PROPERTY and go to the local recorders office to ascertain who really owns the property, how long the claim has been in existance(BLM Lr200 & GeoCom only 50% reliable),if ALL filings are in correct time restraints, and sucession of ownerships?? Over half the claims I've seen are not even claimed(paper claimed),idjet never even been there,and they use your money to file your own claim and rape ya for your $10 g fer nuttn'. For every rule a thumb you do have exceptions-for the first time in my life I sold a 80 acre claim on a river with decent gold for a younger man for $1650 and felt guilty for doing it. I usually give them to friends or non profits(boy scouts/boys club,etc) for their education and enjoyment. A fool and his money are soooooon parted and $10,000 is insane UNLESS lined with gold--and then ya just gotta ask yourself just 1 more question?? Ifn' there is THAT much gold at $1250 a oz why is he selling it??-John :bang:

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:eee: CAVEAT EMPTOR-BUYER BEWARE ALWAYS :cigar: seeing as your in florida and a looooooooong way to lands that are claimable I'd righteously suggest you spend a ABSOLUTE minimum of a week on the PROPERTY and go to the local recorders office to ascertain who really owns the property, how long the claim has been in existance(BLM Lr200 & GeoCom only 50% reliable),if ALL filings are in correct time restraints, and sucession of ownerships?? Over half the claims I've seen are not even claimed(paper claimed),idjet never even been there,and they use your money to file your own claim and rape ya for your $10 g fer nuttn'. For every rule a thumb you do have exceptions-for the first time in my life I sold a 80 acre claim on a river with decent gold for a younger man for $1650 and felt guilty for doing it. I usually give them to friends or non profits(boy scouts/boys club,etc) for their education and enjoyment. A fool and his money are soooooon parted and $10,000 is insane UNLESS lined with gold--and then ya just gotta ask yourself just 1 more question?? Ifn' there is THAT much gold at $1250 a oz why is he selling it??-John :bang:

JHO is a VERY smart man. I would be curious to just how you found out about the land?

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JHO is a VERY smart man. I would be curious to just how you found out about the land?

Wow everyone thank you for the outstanding advice. I found out about the land from the Mineral rights owner. So he claims. Can't find his name on the recorders website. Red FLag already. Plus, I did ask, why would someone sell a claim if there was gold on it?? Another red flag. Thank you all for the input and if you do have a legitimate claim in AZ or Cali let me know. I'm very interested.

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One argument against buying claims I often see used is to find out how long the claim has been held. Most always say that if the claim was just recently filed it is unlikely to have much gold on it. That makes good sense I guess in many cases, but in others it's just a silly reason to ignore a potential purchase. I know of 6 very good claims right now that are long expired and fully open for new claims yet I don't file on them unless we start seeing activity there that may mean somebody's interested in it. Then to protect it we may file quickly but why put a dot on the map for others until you have to?

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I have seen the area of a friend of mine's claims listed on ebay by someone else. She talked to the Forest Service

and they said to haul off any claim marker of his that you see, they are trash. This has been going on for years.

However, I have never seen one of his claim markers, what I heard was he only files after someone "buys".

Randy

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I have seen the area of a friend of mine's claims listed on ebay by someone else. She talked to the Forest Service

and they said to haul off any claim marker of his that you see, they are trash. This has been going on for years.

However, I have never seen one of his claim markers, what I heard was he only files after someone "buys".

Randy

hehehe...well greed changes everyone.....

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  • 7 months later...

hehehe...well greed changes everyone.....

I live in Kentucky and Florida and took a trip from KY. down through the Florida Panhandle and then out through La., Texas, N.M., Arizona and up over Hoover Dam (a big pain in the ass) and on up through Vegas to Death Valley and then on up to Reno, Carson city and Tahoe. On the way back home to Kentucky I took RT. 50 to , Ely, Nevada where I stayed for 8 days before traveling the lonliest road in america much of the way back. Anyway this got me to thinking about prospecting for gold and started thinking about buying a claim. I haven't bought one yet and probably never will after looking at some for sale at E-bay. I've seen one guy on E-bay (US_PATROIT) post the same pretty pictures of different claims he may or may not actually own and usually posts several at once which usually go for .99 plus the bogus documentation fees raked in over and above the actual winning bid. Some of these guys may be selling valid claims, especially the ones who do not charge these so called Doc fees ranging from a low of $250.00 to over $500.00 or even a thousand dollars or more, but after much observation and deliberation over several months, I decided to stay away from these E-bay sellers and their claims. I do plan to take another trip west and try prospecting but I guess I'll join one of the clubs and use their claims or even just try find some very remote areas to try my luck. Any suggestions or advice would be appreciated along these lines.

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If you can't find evidence of ownership in the LR2000, be very skeptical. Go to the county courthouse and find the notice of location or deed that established his ownership of the claim. Due diligence is worth it's weight....well you know the rest.

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