One famous anecdote about gold comes from the California Gold Rush of 1849. Sam Brannan, a businessman rather than a miner, became California’s first millionaire by buying up all the mining supplies in San Francisco early on. Then he ran through the streets shouting, “Gold! Gold! Gold!” to attract prospectors and drive demand for his goods. While many miners struggled or found only modest success, Brannan’s savvy entrepreneurial move allowed him to profit immensely from the rush without ever mining a single ounce of gold himself.

This story highlights how gold rushes were not just about striking it rich by finding gold, but also about the opportunities created around the frenzy—sometimes benefiting those who sold tools and supplies more than the miners themselves.