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[-] Grimy@lemmy.world 34 points 2 days ago* (last edited 2 days ago)

If I recall correctly, shovel companies made a lot of money while only a few of their shovels actually struck gold.

[-] Ephera@lemmy.ml 19 points 2 days ago

Recent scholarship confirms that merchants made far more money than miners during the gold rush.
The wealthiest man in California during the early years of the rush was Samuel Brannan, a tireless self-promoter, shopkeeper and newspaper publisher. Brannan opened the first supply stores in Sacramento, Coloma, and other spots in the goldfields. Just as the rush began, he purchased all the prospecting supplies available in San Francisco and resold them at a substantial profit.

https://en.wikipedia.org/wiki/California_gold_rush

this post was submitted on 24 Sep 2026
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Showerthoughts

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