As the price of gold reaches an historic high, Aussies are racing to get their hands on the precious commodity.

Lines are stretching out the door at gold traders, but one Victorian prospector is proving you can still strike it rich the old-fashioned way.

Chris Bogusis says a good day panning for gold could earn you up to $15,000. This caused him to wonder, as the price of gold starts to take off, whether it is possible to make a living off nothing but gold.

Bogusis decided to dig into whether the average Australian could quit their day job and strike it rich.

For amateur fossickers, it’s not quite as simple as picking up a pan and heading to a local waterhole. You have to fork out for a miner’s permit or fossicking licence, which usually costs between $20 and $100.

And despite its perks, finding gold may not be the most secure source of income.

“You might have two or three weeks where you find nothing and then hit a pocket where you find tens of thousands of dollars in gold,” Bogusis said. “So, it’s not for everyone.”

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