With the economy in the current chaotic condition, many investors turn to gold as a stable investment. Gold has been the basis for American currency for a long time and one of the most well known events involving the precious metal is the California Gold Rush that began in 1848 and lasted until 1855. Gold was discovered in California by James Marshall at Sutter’s Mill in the town of Coloma on January 24, 1848. The news of his find spread like wildfire and more than 300,000 men, women, and children made their way to California from all corners of the world.

The early gold seekers were referred to as “forty-niners” and they journeyed to California by boat and covered wagon and the trip provided many hardships. Most of the early settlers were Americans but they were joined by many thousands of people from Latin America, Europe, Asia, and Australia. In the beginning, the gold was removed from streams and rivers by panning. This is the method most associated with prospecting involving scooping soil into a pan and sifting through the sand looking for gold flakes and nuggets.

Better methods for finding the gold were developed and those ways of mining and prospecting were adopted around the world. Billions of today’s dollars was found and led to immense wealth for some but the majority returned home with very little more than they began with. The gold rush

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did have some far reaching effects. San Francisco grew from a small settlement to booming town. Roads, schools, churches, and towns spread throughout California and system of government led to statehood in 1850. The Gold Rush had a major impact on the economy and development of California and surrounding areas. The professional football team, the San Francisco 49ers, is homage to the seminal event in California’s history.

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