History Fact Finder | Economics and Business - What Was The Comstock Lode?

What was the Comstock Lode?

The Comstock Lode was the richest silver mine (it was also plentiful in gold) in the United States. Located at Mount Davidson, 16 miles (26 kilometers) southeast of Reno, Nevada, the ore deposit was discovered by Ethan Allen Grosh and Hosea Ballou Grosh in 1857. They died before they could file a claim, however, so in 1859 Henry T. P. Comstock (1820–1870) acquired the mine and sold it for a small amount compared to its actual value. Between 1873 and 1882 the Comstock Lode and its "Big Bonanza," a super-rich ore vein, yielded more than $100,000,000. By 1882 the mine had produce $397,000,000 in ore—half of the silver in the United States during the period. Western Nevada became a center of mining activity, attracting numerous prospectors (people who search an area for mineral deposits like gold and silver). Virginia City, established in 1859 at the site of the discovery, became a prosperous boomtown...

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