Friday, May 18, 2012

5/18/12 Report - Gold Diamond Nugget Ring & Miscellaneous

Gold Nugget Diamond Ring Metal Detector Beach Find.

One more of those nugget style rings.  Man's band.

The price of gold has really been dropping.  Down over $500 an ounce from the last high of near $1900.  That is quite a drop.

Silver also down very significantly.

A lot of that I believe is due to the strength of the dollar lately.  The economic situation in Europe has been making the dollar look good.  The economic situation here isn't much either, but not as bad as places like Greece.

I suppose for those who like hard assets, this isn't a bad time to hold, but who knows.

The other day I mentioned about using a magnet to test for ferrous metals.  

Bill P. wrote to add one important detail.   Here is what he said. 

Just a reminder that many folks may not know that a magnet will pick up nickel metal. There have been cases where counterfeit silver coins were made of nickel, especially silver dollars. It's very similar to silver but as you know silver is not magnetic. U.S. nickels are only 25% nickel and may not exhibit magnetic properties.

Thanks Bill.

I mentioned the other day that the appeal by Odyssey Marine will not be heard by the Supreme Court.  Their stock is way off of recent highs too.

I recently read a news item in an archaeological publication referring to "Pen State." I didn't know if they left off the second "n" of Penn State accidentally or if there is actually a "Pen Stat"e that I should know about. Or maybe it was left off intentionally because of the recent sex abuse scandal as a pun suggesting that some employees might end up in the pen. My guess without looking into it, is that it was a simple error.

I was thinking of writing about casino chip finds.  I've found a couple over the years.  It is surprising what you can find on a beach.  Some casino chips are metallic or partly metallic.

Unfortunately I don't have enough time to really get into that today, so it will have to wait for another day.

At least we've been getting some rain recently.   The seas haven't changed much for a few days - still running around three feet, with wind and swells from the east and southeast.  

That isn't much good.

I wish we would get a good sustained northeaster to open up the beaches for some of the old stuff.  There have been a few, but very few, old shipwreck finds lately.  I've been waiting for a change of beach conditions to get focused back on that.  Fortunately there is always plenty of other stuff to keep a person entertained.   And I like the change of pace every once in a while.

Again, I'm late in responding to emails lately.  Sorry about that.

That's all I have time for today.

Happy hunting,