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Posted by / 12-Jul-2017 18:51

Historians have written extensively about the migration, trade, colonization and environmental history associated with gold rushes.

Gold rushes were typically marked by a general buoyant feeling of a "free for all" in income mobility, in which any single individual might become abundantly wealthy almost instantly, as expressed in the California Dream.

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While gold mining itself was unprofitable for most diggers and mine owners, some people made large fortunes, and the merchants and transportation facilities made large profits.

The resulting increase in the world's gold supply stimulated global trade and investment.

Difficult-to-reach placer deposits may be mined by tunnels.

The low investment, the high value per unit weight of gold, and the ability of gold dust and gold nuggets to serve as a medium of exchange, allow placer gold rushes to occur even in remote locations.

After the sluice-box stage, placer mining may become increasingly large scale, requiring larger organisations and higher capital expenditures.

At a time when the world's money supply was based on gold, the newly mined gold provided economic stimulus far beyond the gold fields.

Gold rushes extend as far back to the Roman Empire, whose gold mining was described by Diodorus Siculus and Pliny the Elder, and probably further back to Ancient Egypt.

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Major gold rushes took place in the 19th century in Australia, New Zealand, Brazil, Canada, South Africa and the United States, while smaller gold rushes took place elsewhere.

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