Frequently Asked Questions
Have you Been Looking at our Mines for Sale and have Questions? Gold Rush Expeditions is here to answer all your questions about buying mining claims. If you don’t see the answer to the question you are asking, feel free to contact us.
Why does Gold Rush Expeditions have mines for sale instead of working the claims themselves?
Can I look at a mine you have for sale and test some samples before I buy?
How does Gold Rush Expeditions, Inc. determine the price for each claim?
Can I sell my mining claim through Gold Rush Expeditions, Inc.?
Your name is Gold Rush "Expeditions", does this mean you will take me on a mining expedition?
Questions about Buying a Mining Claim
What sort of payment options does Gold Rush Expeditions, Inc. accept?
Can I pay for my claim with ore collected from the claim?
What paperwork will I get after purchasing a mining claim from GRE?
- Land status map of the claim
- Original copy of the Quit Claim Deed
- National Bureau of Mines Claim Certificates
- Digital copies of:
- Land status map of the claim
- Map showing GPS coordinates of the claim corner markers
- All Pictures of the claim and underground images of the mine(s) where applicable
- Notice of Location/Certificate of Location with BLM and county recorded stamp
- Copy of the Signed Terms and Conditions of Sale.
- Guide to permitted mining operations (State Specific)
- If Financing you will receive a copy of your signed finance contract.
- A copy of the Quit Claim Deed that has been recorded by the County and BLM will be emailed to you when returned from the County and BLM
Can I change the name of my claim after purchase?
Who can own a mining claim?
Financing a Mining Claim?
What is the required down payment for financing a claim with GRE?
Is a credit check required?
Are there any penalties for early payments?
Are there any penalties for late payments?
Can I make my monthly payments from the gold, silver or gems I find on a claim I am financing?
Mining Claim Questions?
What exactly am I getting with an Mineral Claim?
How do I keep my claim active?
- Pay an annual assessment fee and record and register your claim with the County and Bureau of Land Management before September 1st of each year.
- Document improvements made to your claim and submit a waiver to the county and Bureau of Land Management.
Annual assessment fees are the fees paid to the Department of the Interior to maintain ownership of your property. Annual Assessment fees are subject to change. In 2015 and 2016, the cost to renew a single, 20 acre lode or placer claim was $155.00. Please call us for current pricing. Assessment fees or Annual Maintenance for unpatented claims are due by September 1st of every year, no exceptions. Claims that are not renewed by September 1st will revert back to federal ownership. Gold Rush Expeditions, Inc. can assist with the Annual Assessment process to ensure that you retain ownership of your claim each year.
Can an unpatented claim be changed to a patented claim?
How many claims can an individual own?
How long does a mining claim remain active?
Weren't most mines abandoned because they were all mined out?
- The “Silver Crash” of 1891-3. Federal support for purchase of silver and silver ores was removed in 1891. The value of silver dropped from over $1 per ounce to $0.27 per ounce in 1893, stabilizing at an average of $0.79 by the end of the year. This equated to a cut of more than 30%. (Consider the impact that losing 30% of your income tomorrow would have on your own economy.) As a result, many silver mines were mothballed while waiting for the price to rise to previous levels of $1 per ounce.
- During WWI and WWII many left their mines to either fight in the war or help support the war effort by working in other industries.
- In 1941, President Roosevelt made it illegal to pursue the mining of any minerals except those considered strategic. This act was known as the War Act, and its intent was to cripple the mining industry, while providing man power for WWII. 418,000 men never returned from WWII. This left their mining operations abandoned. In addition, over 300,000 were wounded, left permanently disabled and were unable to return to their mines. Many men after WWII never returned to their mines.
- In the years after WWII, the federal government bolstered efforts to encourage people to work in the cities and offices of the nation.
Since the repeal of the War Act in 1945, Mining activity decreased over 400%. These mines were left abandoned because people died or were no longer able to work their mines. Many more people held their mining claims while they worked their city jobs from 9-5, all the while promising to return to mining at some point. Most never did, and when they died, or stopped paying on their claims, they were considered abandoned.