Modern Gold Rush Driving Up Property Values in the Mojave Desert

By Mike Maharrey 

Do you like to do things the easy way or the hard way?

If you want gold, you can do it the easy way. Just buy some at MoneyMetals.com.

Or you could do it the hard way. Grab your pick and shovel and head out to the Mojave Desert.

Just be warned — you won’t be alone.

Now, I have to confess that sweating in the hot desert digging ditches has no appeal to me. I’m just going to go the Money Metals route to get my gold. But if you’re willing to move some dirt, you could strike it rich!

It’s a powerful dream, right? The hope of digging a hole and finding millions in gold has motivated countless people to pick up everything in search of the elusive metal. 

As Joshua D Glawson put it, “The discovery of gold in the United States profoundly shaped the nation’s economic and social development, especially during the 19th century.“

Consider the California gold rush. 

In January 1848, James W. Marshall discovered gold at Sutter’s Mill in Coloma, California. News of the discovery spread rapidly, and people from across the country and around the world flocked to California in pursuit of riches. Some 300,000 prospectors, known as “forty-niners,” moved into the state. This led to California’s rapid population growth and eventual statehood in 1850.

And it’s happening again in the 21st century.

With gold prices at record levels, more than a few people are willing to try and get gold the hard way. This has sparked a mini gold rush in the California desert.

According to the Los Angeles Times, people are snapping up claims for gold mines. Entrepreneur Sean Tucker called it “a modern-day gold rush.”

In fact, this gold rush set off a real estate boom in the Mojave town of Johannesburg, located about 140 miles north of Los Angeles.

Johannesburg was a booming mining town back in the 19th century. 

Hemet-based real estate agent David Treadwell said there has been a surge in demand for old mining properties. Small claims are selling for under $50,000, while larger claims command hundreds of thousands of dollars. 

Tucker has invested millions to buy 97 acres of land and lease 2,500 more. He plans to start full-scale mining in 2025. He told the Times he estimates it will cost around $1,220 per ounce to pull gold out of the ground. That would give him a $1,400 profit at the current gold price. 

Real estate agents are cashing in on the gold rush without lifting a shovel.

Randsburg was once a booming mine town with a population of 3,500 people during the last gold rush more than a century ago. Today, it is home to about 45 people. But with their historic ties to gold, properties in the area are selling for up to $175,000.

Real estate brokers make bold promises such as “You only need to find about 18 ounces to make this property pay for itself!”

Of course, that’s easier said than done. History is packed full of the long-forgotten names and faces of men and women who risked – and lost -  everything for a shot at gold’s promised riches. As truck driver Rudy Salazar told the Times, nothing is simple or guaranteed. 

“It’s not easy. But I hope it pans out.”

And if it doesn’t, well, he can always head over to Money Metals. 

Originally Published on Money Metals Exchange.