Q:

Where can you sell a patented gold claim?

A:

Quick Answer

Patented gold mining claims can be sold on mining property classified websites like Mine Listings, Advance Geologic and Gold Rush Expeditions. These websites allow owners to place an advertisement noting sale of a mining claim.

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Full Answer

Mining claims are a means of gaining exclusive mining rights to a particular area of public land from the federal government. The basis of mining claims dates to the 1872 passage of the U.S. Mining Law, encouraging companies and individuals to explore and develop mining claims.

Patenting a claim with the federal government incurs a number of fees and requires a survey of the property. The advantage is that a patent allows the claimant to freely build permanent structures, either for residence or industrial structures for mining. Patented claims are generally more valuable than unpatented. A disadvantage of patented mining sites is that the claimant is responsible for attending to by-products of the mining process. This includes clean-up, environmental impact assessments and public access issues. The government also levies an annual property tax based on land value, including improvements from permanent structures.

In contrast, unpatented mining claims require an expensive bond fee for the construction of permanent buildings. Structures must either be mobile or pre-existing. As the land is still considered public for an unpatented claim, there is less overall liability, as well as no property taxes assessed.

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