Soaring Prices Fuel Alaska's Mining Renaissance
– Gold Hits $4,500/oz
Red State,
by
Ward Clark
Original Article
Posted By: Hazymac,
1/15/2026 1:45:43 PM
Everything's coming together for mining in Alaska.
If you've been reading my work for any length of time, you'll be aware of how much I love Alaska. I am in the habit of describing the Great Land with four words: Vast, clean, wild, and free. But Alaska is also loaded with resources, and what's more, Alaska is big enough that we can have our cake and eat it, too; the amount of land taken up by mining and oil/gas development is tiny set against the vastness of this great state.
And now, in part due to the Trump administration's push to open up this treasure chest, mining is poised to make a
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Reply 1 - Posted by:
Hazymac 1/15/2026 1:55:06 PM (No. 2055428)
The mining shows, some of which are from Alaska, are fascinating. Gold mining is very, very hard work with sometimes balky equipment, sometimes with little to no result. On the other hand, sometimes, the most successful, whether mining the land or the ocean floor, pour out 300-400 ounces, and hope for, oh, 10,000 or so ounces. For the cash ... real money, as the saying goes. At this moment, gold is $4,624 per ounce, and silver is $92. Amazing spurt in precious metal prices the last year.
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Reply 2 - Posted by:
Hazymac 1/15/2026 1:59:16 PM (No. 2055433)
10,000 ounces in a season if the claim has enough Au in the soil, and they dig in exactly the right places. At todays price, that would be $46,000,000. How did the song go? "Off to Alaska!"
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Reply 3 - Posted by:
DVC 1/15/2026 2:21:10 PM (No. 2055445)
A lot of mines won't pay at $700 per ounce, but will pay well at $4K per ounce. I bought a bunch a couple of years ago, it's more than doubled in value.
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Reply 4 - Posted by:
Maggie2u 1/15/2026 2:37:52 PM (No. 2055454)
Poster #1, years ago when we were involved in Scouting when a boy became an Eagle Scout, we would buy an Eagle silver dollar for him. I think we would pay around $7-$10 for them. Can't believe what it costs now.
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Reply 5 - Posted by:
Hazymac 1/15/2026 3:05:35 PM (No. 2055466)
In the old familiar Morgan or Peace silver dollars minted between 1878 and 1935, there is 0.7734 of a troy ounce of silver, meaning that your common date silver dollar is worth $71.15 on silver content alone today.
In the early 'Sixties, after a multitude of mint sewn bags were released from government vaults, a few rare dates and mint marks became very common (such as the 1898-O and 1904-O Morgans) when literally millions were released from storage. The probibitively rare 1903-O Morgan was, until 1962, the toughest coin in the whole set--tougher than the 1893-S or the 1895's from all mints--worth a then unheard of $1,500. Only a handful were known to exist, dealers couldn't get their hands on any, and all were presumed to have been melted under the Pittman Act of 1918 when tens of millions were melted. Then overnight, there were thousands of '03-O's, no longer the most valuable coins in the set.
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Reply 6 - Posted by:
crashnburn 1/15/2026 3:27:06 PM (No. 2055472)
I've held GDX for many years. It's a gold mining ETF and pays dividends, vs. holding the actual metal or notes. The stock price is proportional to the price of gold, and inversely proportional to the cost of energy.
With energy prices going down, and the price of gold going up, I stand to make a mint on that ETF. Not sorry about the pun.
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Reply 7 - Posted by:
DVC 1/15/2026 3:55:00 PM (No. 2055484)
Re #6, my gold "dimes" (1/10th oz Eagles) are not consider by me to be an investment, like your ETF shares. I don't intend to make money on them, although they have more than doubled in value.
My intent is that they are an insurance policy if this house of cards collapses before I croak.
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