Gold Price Increase Drives Boom in Electronic Metal Detecting

TUCSON, Ariz.—Years ago, Joe Marihugh became captivated by gold while he was washing buckets of sand to extract tiny flakes of the valuable metal.

At one time, he and his wife processed 50 buckets and managed to gather just two grams of gold, which was valued at nearly $200 back then.

Since then, he has relied on his trusty Minelab Gold Monster 1000 metal detector, always full of hope and scanning the ground for new finds.

“I enjoy the thrill of searching for gold. It’s become our passion,” Marihugh remarked while maneuvering the metal detector’s coil over Tucson’s dry, hardened earth in search of hidden treasures.

Like forensic detectives scanning for clues, the metal detectorists diligently searched in close proximity under Tucson’s bright morning sun.

“Some people here do find gold nuggets,” said Ralph Montano, the club president. While he encourages everyone, he cautions, “You likely won’t strike it rich” with metal detecting, but, “there’s always a chance you might get lucky.”

The draw for metal detecting enthusiasts like the Desert Gold Diggers extends beyond the pursuit of gold.

They are also attracted by gold’s recent price rise, now exceeding $3,000 per ounce for the first time in U.S. history.

Meanwhile, silver prices are also climbing, currently above $34 an ounce.

Montano shared with The Epoch Times that the club has seen a significant uptick in interest from people wanting to try metal detecting.

There’s a clear correlation between the price of gold and growing interest in the hobby.

“Recently, we’ve seen a lot of interest. Over the last few months, numerous new members have joined,” Montano stated.

“They come out, eager to learn from us about necessary equipment and tips on where to look for potential hotspots.”

Since late 2022, they’ve noted a deviation in the typical correlation between gold prices and real interest rates, which has been unaffected by the U.S. dollar and stock market trends.

“This is revealing an increasing effect of global fiscal policies and currency devaluation, a notable uptick in central bank acquisitions, as well as escalating geopolitical tensions,” T. Rowe Price commented.

“Geopolitical risks appear to be intensifying. Conflicts persist in the Middle East and Ukraine, and tensions are rising between China and its neighbors.

“Countries that oppose the West will continue seeking ways to reduce their reliance on the [U.S. Dollar] as a predominant currency for international transactions.”

This significant increase is not attributed to mere coincidence, with analysts recognizing a potential “perfect storm” brewing for the yellow metal.

“What’s noteworthy is not just the number itself but the speed at which gold has achieved it. The leap from $2,500 to $3,000 occurred within just 210 days—highlighting the remarkable momentum gold has gained in the past two years.”

While retail demand for gold and silver remains robust, a growing number of adventurers are recognizing the lucrative possibilities of metal detecting.

Yet, he pointed out that this recent increase in sales does not compare to the surge seen during the “gold rush” of the 1980s, when his business launched in 1985.

In January 1980, gold first crossed the $850 mark, setting a historic precedent.

Shore explained that many customers are now looking for affordable ways to “assist them in finding gold” as precious metal prices continue to trend upwards.

“Some individuals are aware of the rising gold prices. They want to embark on this hobby because of it,” he stated.

“However, the interest isn’t approaching the levels seen in the 80s. Back then, it was practically a gold rush; I had cars lining up outside my store, and we couldn’t supply gold detectors fast enough.”

Shore mentioned that nothing has matched that frenzy since he began his metal detecting journey in the 1970s.

Still, this could change if gold prices continue to surge, and indications suggest that may happen, he added.

Aside from metal detecting, traditional gold panning remains a favored pastime for those drawn to more classic prospecting techniques, as stated by precious metals advisor GMR Gold.

Gold prospecting can be undertaken through various methods. The classic technique of gold panning can be upgraded using a Rocker Box, or cradle, which allows for more efficient separation of gold due to its construction featuring a sieve and rocking motion.

Another option is the sluice box, designed as a long trough that captures gold particles while simultaneously channeling water and sediment through it.

In arid regions, dry panning, which uses air rather than water, emerges as an effective technique for gold separation from sediment.

“The practice of gold panning demonstrates human ingenuity, persistence, and the lasting allure of gold.”

Steve Moore, marketing director for Garrett, a Texas-based manufacturer of electronic metal detectors, agreed that the upward trend in gold prices has piqued interest in electronic gold prospecting.

Moore stated that as a privately held company, Garrett cannot comment on concrete sales figures but anticipates “significant increases this year in our prospecting detector sales.”

“We expect substantial sales growth in 2025 for our premier prospecting products—the Goldmaster 24k, designed specifically for hunting gold nuggets, and the Axiom,” Moore told The Epoch Times.

He emphasized that many regions hold potential for hidden gold, including Australia, the Yukon, Arizona, California, and Nevada.

“Research is essential to identify a gold-rich area, and securing access to a claim is necessary for a fruitful search,” he advised.

Marihugh credits his uncle for inspiring his early passion for gold prospecting. The Gold Rush series on the Discovery Channel, which premiered in 2010, solidified his interest, leading to continuous gold finds over the years.

“We’ve been discovering gold consistently ever since. I’ve accumulated ounces over time,” he said.

He illustrated this point by revealing a vial containing about a gram of newly found gold flakes.

Other metal detector enthusiasts often search in parks, hoping to uncover lost rings and other valuable items, he shared.

Gold as a Side Hustle

“There’s treasure everywhere—it’s still out there,” Marihugh remarked. “People misplace rings; children lose necklaces.”

With gold prices continuing to rise, he anticipates: “This will attract even more individuals to metal detecting for profit or enjoyment.”

“Once gold surpassed $2,200, more people have been getting involved. I genuinely hope the trend continues,” he stated.

Montano explained that the Desert Gold Diggers has been active for around 35 years, currently managing 19 claims for members to seek treasure.

“I’m still acquiring skills, having started about six years ago with a basic Garrett 250,” he shared.

Jose Lizarraga, another club member from Tucson, has spent two years metal detecting with a Monster 1000 during the club outing.

He described his luck in finding a gold nugget during another adventure, which he later transformed into a necklace for his wife as an anniversary gift.

“That was my gift for her. She cherishes it,” Lizarraga told The Epoch Times.

Bob Burgette, age 62 and from Wisconsin, began his journey into gold prospecting and metal detecting in his youth.

He now utilizes six Minelab metal detectors to search for a myriad of metal objects.

“I had a couple of sisters living out here, and on my visits, I got captivated by the hunt for gold,” Burgette recalled.

“While my sisters were more interested in finding arrowheads, I dedicated my time to seeking out gold.”

One of his standout finds was an 1886 Seated Liberty silver dime he discovered buried a foot deep.

At the club outing, he recovered a 1937 Indian Head nickel in good condition.

NGC Coin, an independent grading service, estimates these nickels can fetch between 50 cents and $20 based on their condition, with those exhibiting mint defects potentially commanding much higher prices.

Over time, such discoveries can help recoup the costs of a metal detector, noted Burgette, who purchased his Minelab for $399.

“I’ve traveled to California and Oregon in search of gold. I’ve found a substantial 3-gram nugget by panning there,” he mentioned.

“When you see that shimmering gold in your pan, particularly when illuminated by sunlight, it ignites your passion for the hunt,” he concluded.

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