Want to own a mine? One is up for sale in Scottsdale

SCOTTSDALE, AZ -- If you can get your hands on $43 million dollars you can buy your very own mine in Scottsdale.

The best part: there may be gold inside.

If you drive up Old Mine Road in North Scottsdale you will head straight up Gold Hill.  It's been mined off and on since 1850 and as recently as 2007.  Early reports showed there was 30,000 tons of gold reserves in the mountain.

"Originally when they found it, it was some of the best ore ever found in the southwest," says Preston Westmoreland, former Valley radio man turned realtor.

He actually has the key to open the mine. 

"It's my own version of an open house."

Inside the mine it's dark and cold and goes on and on in every direction. But with the price of gold these days the old mine may be worth a new look. 

"If these projections are right there is $100,000 worth of gold in the mountain," Westmoreland says.

Is the mine a money maker?  No one seems to know for sure.  There have been plenty of investors and geologists who have made a stab at it over the years.  And gold prices have shot up over the past few years, flirting with $1,200 an ounce at the highest.

The mountain is also zoned for one acre, single family homes so there is an investment opportunity there too.

The price tag is $43 million.  But the new owner will be sitting on top of a gold mine -- literally.