Gold And Silver HistoryOn September 25, 2020 by preciousmetals
Alaska is the richest state in terms of gold. Alaska has a great history of gold mining. Gold was first discovered in Alaska in the middle of the 19th century by a prospector. In the late1800s, miners and prospectors left their homes in the United States and traveled to Alaska to seek their fortunes in the gold rush. Gold prospects in Alaska were good enough that more than a million people ended up moving to Alaska. Sadly, only a few became rich. But some were successful in their endeavors and found gold. Word got out, and soon more prospectors flooded Alaska in search of gold and glory. The gold rush brought many hardships to Alaska, including crime, corruption, and alcoholism.
The Russian fur hunters found gold nuggets on the beaches of Alaska around the 1780s. But the fur hunters did not have time to mine, since they were there to catch fur animals. The gold & silver rush in Alaska started in 1899 when the miners found gold along the banks of the Yukon River. People were excited, and some even staked claims. The gold rush became a stampede when gold was discovered in the hills around Nome, Alaska. Most of the new minters were from California and were experienced. They were ready to pay high prices for the supplies they needed, so stores were happy to make a profit. An estimated 10,000 people headed for Nome in the spring of 1900. Panning is not a good way to get rich. The gold was in the hills outside Nome, and the miners who worked on the hills earned up to $35 a day. Most people did not earn much more than that.
Alaska is the largest state in the United States of America and is also referred to as the Land of the Midnight Sun. It is located in the north west of North America and lies between the Pacific and Arctic Oceans. Alaska was purchased from Russia in 1867 for $7.2 million in gold. The territory of Alaska is still governed from Washington DC. Alaska was once home to the largest gold mine in North America, the United States Mine. The Alaska Silver history dates back to a discovery of gold near Juneau in 1880. The discovery started the first gold rush and attracted a large number of prospectors to come and try their luck.
We know a lot about the history of gold and silver, but very little about silver history. Silver is more abundant than gold, since there is about 4 times as much silver as gold. It is estimated that there is 140 million ounces of silver in the earth, compared to 30 million ounces of gold. When the first European settlers came to America, silver was used as legal tender to buy, sell and trade. In 1878, the United States minted a silver dollar that contained 90% silver. In the early 20th century, the worldwide silver supply was at 17 million ounces. The United States was the leading producer, followed by Mexico and South America. Today, the United States is still one of the top producers, but other countries such as Europe, South America and Australia also have sizable production.