Phoenix Gold Mining Co. - 1904 dated $500 Arizona Gold Mining Bond
Inv# MB5091 Bond
New York
$500 6% Gold Bond printed by Broun-Green Co., N.Y. Most coupons remain. In the United States, gold mining has taken place continually since the discovery of gold at the Reed farm in North Carolina in 1799. The first documented occurrence of gold was in Virginia in 1782. Some minor gold production took place in North Carolina as early as 1793, but created no excitement. The discovery on the Reed farm in 1799 which was identified as gold in 1802 and subsequently mined marked the first commercial production. The large scale production of gold started with the California Gold Rush in 1848.
The closure of gold mines during World War II by the War Production Board Limitation Order No. 208 in autumn 1942 was a major impact on the production until the end of the war. US gold production greatly increased during the 1980s, due to high gold prices and the use of heap leaching to recover gold from disseminated low-grade deposits in Nevada and other states. In 2019 the United States produced 200 tonnes (6.4 million troy ounces) of gold (down from 210 tonnes in 2018) from 12 states, worth about US$8.9 billion, and 6.1% of world production, making it the fourth-largest gold-producing nation, behind China, Australia and Russia. Most gold produced today in the US comes from large open-pit heap leach mines in the state of Nevada. The US is a net exporter of gold. Read more at https://en.wikipedia.org/wiki/Gold_mining_in_the_United_States
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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