The California Gold Rush began on January 24, 1848, when gold was discovered by James W. Marshall at Sutter's Mill, in Coloma, California. News of the discovery brought some 300,000 people to California from the rest of the United States and abroad. Of the 300,000, approximately half arrived by sea and half came overland. The gold-seekers, called "Forty-niners" , often facing substantial hardships on the trip. While most of the newly arrived were Americans, the Gold Rush attracted tens of thousands from Latin America, Europe, Australia, and China. At first, the prospectors retrieved the gold... from streams and riverbeds using simple techniques, such as panning. More sophisticated methods of gold recovery developed which were later adopted around the world. At its peak, technological advances reached a point where significant financing was required, increasing the proportion of gold companies to individual miners. Gold worth billions of today's dollars was recovered, which led to great wealth for a few. However, many returned home with little more than they had started with. The effects of the Gold Rush were substantial.
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