West Coast Gold Rush West Coast Gold Rush The West Coast Gold Rush on the West Coast of New Zealand from 1864 to 1867 populated the area, which up till then had been visited by few Europeans. Gold was found near the Taramakau River in 1864 by two Māori, Ihaia Tainui and Haimona Taukau. In 1865–66 gold was discovered at Okarito, Bruce Bay (the scene of the Hunt's Duffer gold rush), around Charleston and along the Grey River. Miners were attracted from the Central Otago Gold Rush, and from Victoria, Australia where the Victorian gold rush had nearly finished and by the end of
California Gold Rush even prefabricated houses arrived from China. The return of large amounts of California gold to pay for these goods raised prices and stimulated investment and the creation of jobs around the world. Australian prospector Edward Hargraves, noting similarities between the geography of California and his home country, returned to Australia to discover gold and spark the Australian gold rushes. Preceding the Gold Rush, the United States was on a bi-metallic standard, but the sudden increase in physical gold supply increased the relative value of physical silver and drove silver money from circulation. The increase in gold supply also created a