Although gold was being found in the area from about 1840 the 'official' finding of gold was when it was found 3 kilometres west of the town in 1851 by Thomas Hiscock, the local Buninyong blacksmith, at an area still known as Hiscock's. Evidence is slowly emerging that the early pastoralists were finding gold, but not making their good fortune known because of the fear the Colonial Government would confiscate their finds because the whole area was Crown Land. By 1871 there were 2281 people and 20 hotels at Buninyong.