Gold Rush Nugget Bucket founder Mark Peterson pitched a piece of gold panning equipment inspired by his daughter.
Gold Rush Nugget Bucket comes with a bucket with screens, funnels, and pans transfer gold and sand to a concentration bowl. This method simplifies gold panning compared to using a regular pan.
Peterson began selling the Gold Rush Nugget Bucket in 2012. The cost of Gold Rush Nugget Bucket is $99.95 plus shipping on Amazon.
Gold Rush Nugget Bucket offers you everything you need to pan for gold in the package, which fits into a 5-gallon bucket and weighs approximately seven pounds.
Would a shark find profitable to invest in Gold Rush Nugget Bucket?
What Is Gold Rush Nugget Bucket?
Gold Rush Nugget Bucket is a gold panning kit which offers everything you need to pan gold.
Gold Rush Nugget Bucket makes gold panning for kids much more efficient and enjoyable than it would be with standard panning equipment. Place your dirt in the bucket and add a bit of water to fill the bucket.
Everyone wants gold, and wars have been waged over it, but it is all around us.
You can find gold dust (micron gold) in nearly every body of water in the world. There is a small amount of gold dust in Home Depot’s bags of sand.
Gravity concentrates the heavy gold dust in a small bowl at the bottom of the bucket, making panning for gold a simple process.
The Gold Rush Nugget Bucket is the best gold panning equipment you’ll ever purchase since it recovers 99 percent of gold nuggets, 90 percent of gold flakes, and up to 90 percent of gold dust.
|Company Name||Gold Rush Nugget Bucket|
|Product||Fun family activities for gold prospecting|
|Investment Asking For||$60,000 For 15% equity in Gold Rush Nugget Bucket|
|Final Deal||$60,000 For 25% equity in Gold Rush Nugget Bucket|
|Episode||Season 6 Episode 19|
|Business Status||In Business|
Who Is The Founder Of Gold Rush Nugget Bucket?
Mark Peterson is the founder of Gold Rush Nugget Bucket, who pitched it on Shark Tank.
Gold Rush Nugget Bucket Before Shark Tank
Mark Peterson created gold Rush Nugget Bucket from Eugene, Oregon. He is seeking a $60,000 investment in exchange for a 15% stake in his business. Everyone desires gold.
It has been the subject of wars, keeping the social world afloat. Gold nuggets used to be found by panning through dirt in a river for hours – a lot of effort for little reward.
As a result, Mark has made it simple and enjoyable for everyone to discover gold, including gold.
The Gold Rush Nugget Bucket is different from other panning methods in that it concentrates the soil into a point, thereby making panning very easy and enjoyable.
How Was The Shark Tank Pitch Of Gold Rush Nugget Bucket?
Mark came to Shark Tank requesting an investment of $60,000 for a 15% stake in Gold Rush Nugget Bucket.
Peterson demonstrates how Gold Rush Nugget Bucket works.
He exhibits it, and the interrogation begins. He was inspired when he saw his daughters playing with buckets searching for rocks.
Mark demonstrates by scooping mud and water into a funnel, after which gravity takes over and the mud is filtered out.
The longer you continue this, the more gold will concentrate in the bowl; when you are finished, simply remove the bowl, empty its contents into a pan, and you are now ready to pan highly concentrated soil.
Lori is the first to inquire about Mark’s inspiration, and Mark says that he went both of his girls to the river to collect rocks for their rock polisher.
Mark knew he was missing something when they took a 5-gallon bucket and some screens, placed everything on top, and his children spent several hours scraping dirt or water using the bucket.
Kevin laments that most of the easy gold-panning areas were excavated decades ago, so a person would have to wade out deep into the river in order to discover gold today.
Mark, however, explains that the average individual may possibly find gold in Home Depot’s sand.
Mark explains that the sand does not have enough to cover the cost of the bag of sand to Barbara, who is stunned and asks if Home Depot knows about this.
This form of gold is referred to as “Micron Gold,” and he pulls up a screen displaying the quantity of gold that has been uncovered by various panning.
There is only a minimal quantity of dust forming a ring within the bucket, but the gold is so fine that it will float on the water’s surface.
Mark also holds a patent for his method, which enables a funnel to filter away water, dirt, and sand.
The layer of sand forms organically, strikes the bottom of the bowl, and then spreads to form the gold ring.
Mark Cuban inquires about sales, and Mark Peterson explains that his sales are only online, but he has generated $290,000 in the first 17 months. Each device costs for $99.95 plus shipping and handling, and the profit margin on each sale is approximately 70%.
Robert observes that individuals are purchasing the product for their children. Mark verifies that this is not a toy, but an educational tool, and that fifty percent of their purchases are confirmed as presents.
Mark Peterson’s personal investment of $192,000 alters the tone of the Shark Tank.
Barb questions how he could have spent $192,000 of his own money since the profit margins are so great, whereas Mark Cuban quips that he had to purchase a large quantity of buckets and screens.
The procedure of creating the mold actually cost $150,000. The unique components of the Gold Rush Nugget Bucket are the funnel, the two screens, the bowl, and the base; Mark has been granted two U.S. patents.
Mark Cuban adores the concept and finds it amusing, but he believes that this is not the type of gold that people typically pan for, and he is the first Shark to abandon the deal.
Robert concurs that the concept is adorable, but he finally views it as a hobby, thus he is also eliminated.
The next speaker is Barbara, who states that the present is wholesome and can educate a large number of children. Barb is a customer and not an investor, thus she is also excluded from the transaction.
Kevin asks Mark if he intends to sell his product at retail stores, such as Dick’s Sporting Goods, but Mark believes he has a larger market. He sent the item to Bass Pro Shops, a fishing store, but has received no response.
Kevin relates a story about a neighbor who enjoys gold panning. This neighbor goes out into the lake with a pan and pans for gold, and Kevin thinks he’s crazy. However, the neighbor occasionally finds gold and screams about it.
Mark explains that the journey is not selling gold, but rather discovering it. Lori considers the concept adorable, but ultimately it is a child’s toy and something that could be amusing. However, because she views it as a toy and not a $99 item geared at adults, she cannot proceed with the transaction.
Robert makes a joke about placing Kevin’s face on the logo for the Gold Rush Nugget Bucket, but Mark Peterson responds that it would no longer be a children’s toy.
Robert notes that the longer Mark remains, the more he likes him. The next speaker is Kevin, who states that he thinks the idea to be so trivial, foolish, and dumb, yet it does have validity. Kevin offers $60,000 in exchange for fifty percent of the company.
Robert believes that Mark will sell a substantial number of units, but he is not blinded by gold and greed.
Mark Cuban urges the other Mark to accept Robert’s offer of $60,000 in exchange for a 25 percent stake in the company. Robert’s offer is made in exchange for a 25 percent stake in the business.
Mark Peterson asks Robert what his plan is for making them both wealthy, to which Robert responds with a smirk, “Are you kidding?”
Kevin interrupts, stating that Robert will transport hundreds of Gold Rush Nugget Buckets to Texas and begin panning for gold with them.
The entire Shark Tank descends into lighthearted, good-natured chaos as Robert comes forward, takes a bucket, and begs each Shark to join him in panning for gold as he passes out buckets.
However, Robert returns to seriousness and discovers that people will purchase the goods — it’s more of a gag gift, but this is as far as Robert would go with it.
Mark Peterson ponders for a time before accepting the clearly superior offer and partnering with Robert Herjavec.
The Shark Tank producing staff actually takes a moment to place an image of Kevin’s happy face in the Gold Rush Nugget Bucket logo, and it appears that this entire part was a light-hearted and humorous one, which is unusual for the show.
Robert re-enters the fray and offers $60,000 for a 25% stake in Gold Rush Nugget Bucket. Mark accepts Robert’s offer.
Final Deal: Robert Herjavoc agrees to invest $60,000 in exchange for a 25% stake in Gold Rush Nugget Bucket.
What Happened To Gold Rush Nugget Bucket After Shark Tank?
Shark Tank’s success story is one of the most satisfying, in contrast to the unfortunate experiences of Rolodoc and products that don’t meet expectations, such as BufferBit.
It was heartening to discover that the Gold Rush Nugget Bucket scores an average 4.5 stars across 47 customer reviews on Amazon since it is an exceedingly simple product that is hard to mess up.
There are only three left in stock of the Gold Rush Nugget Bucket retailing at $119.95.
It appears Robert and Mark have also added the Deluxe version, which includes a metal panning pan.
The Gold Rush Nugget Bucket also has a website, where subscribers can receive a 10% discount for simply subscribing to the newsletter.
The shipping is complimentary among the 48 contiguous states for Gold Rush Nugget Bucket (except Hawaii and Alaska).
Even though the only difference between these versions is the color, all of the Gold Rush Nugget Buckets have been rated four stars on the website.
Gold Rush Nugget Buckets are pink, camouflage gold, and yellow. Gold Rush Nugget Buckets are the same price as the Amazon model at $119.95, and their website includes information about the Gold Rush and how to use the bucket and tools to search for gold.
Gold Rush Nugget Bucket Shark Tank Update
Robert and Mark finalized their deal of investing in Gold Rush Nugget Bucket.
Robert and Mark decided they needed a social media manager. Currently, the Gold Rush Nugget Bucket generates $1.2 million in revenue annually as of 2022.
Is Gold Rush Nugget Bucket Still In Business?
Yes, Gold Rush Nugget Bucket is still in business as of 2022, with annual revenue of $1.2 million.
What Is the Net Worth of Gold Rush Nugget Bucket?
The valuation of Gold Rush Nugget Bucket was $400,000 when it appeared on Shark Tank. The net worth of Gold Rush Nugget Bucket is $1.2 million as of 2022.