
Panning for gold in 1898.
University of Washington: Special Collections
As the old saying goes, “when you find gold, sell shovels.”
During the California gold rush in the 1800s, very few people made their fortune on found minerals. In fact, most prospectors found very little.
Back then, the more reliable way to make money was to sell shovels, tents and other supplies to the hapless rubes heading into the hills on the hope that they might find gold.
We can see…