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View Full Version : 60 Million $ Worth of Gold in 1880 would be worth 4,800 Million $ Today; Right?


__hoot__
07-23-2011, 03:31 PM
That is what they took out of the Ropes Mine in Michigan's U.P. They had to go down better than 2000 feet and the mine killed 20+ men, but they did it. Did any of you fellows know that Michigan has gold?
Tinbox
07-23-2011, 03:36 PM
That is what they took out of the Ropes Mine in Michigan's U.P. They had to go down better than 2000 feet and the mine killed 20+ men, but they did it. Did any of you fellows know that Michigan has gold?
i knew they had a lot of mines in UP, didn't realize they also mined gold at one time though. Cool fact! Do you live in UP?
Argentium
07-23-2011, 05:38 PM
In addition to gold, a fair amount of silver was mined in the UP. The silver was found in association with the native copper deposits.
__hoot__
07-30-2011, 12:42 AM
Nope; in the LP. The Ropes mine was the only one that was very wealthy. Think there may have been 20-30 gold diggings of some sort in Marquette County in the area around it. They ran it for 15-20 years in the late 1800s and pulled out 60 million worth of gold then at $20 an ounce. Reworked the waste dump in the Deppression years.
__hoot__
07-30-2011, 12:50 AM
In addition to gold, a fair amount of silver was mined in the UP. The silver was found in association with the native copper deposits.

All UP copper has a fair amount of silver mixed in. Some of the big copper nuggets have silver "knobs" on their outsides. I have a eight pounder as back door stop that has a half dozen dime sized smotches of silver on the outsides.
cpthnsolo
07-30-2011, 04:38 PM
I have a eight pounder as back door stop that has a half dozen dime sized smotches of silver on the outsides.

If it's not too much to ask, would you mind sharing a pic of that? I would love to have a chunk of copper like that :D!
Fiat Metaler
07-30-2011, 08:23 PM
$60 million in gold in 1880 / $20 per ounce of gold = 3 million ounces * $1600 today = $4.8 billion today
B00B001000
10-31-2012, 08:29 PM
I thought they mined a lot of lead in the UP also.
Chester-Copperpot
10-31-2012, 08:33 PM
Irons is in the process of hoovering up, any gold left in Michigan.
Mr Paradise
10-31-2012, 08:40 PM
http://www.dayooper.com/MichiganGold.htm

http://www.dayooper.com/MISilver.htm

http://www.dayooper.com/NativeCopper.htm