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… The freelance diamond setter explained that he was sifting through “very valuable” New York City mud for tiny diamond and ruby chips, bits of platinum, white-gold industrial loops for jewelry assembly, and gold earring backs and loops from broken chains, watches, broaches and necklaces — all carelessly dropped and now his to mine. “Material falls off clothes, on the bottom of shoes, it drops off jewelry, and it falls in the dirt and sticks to the gum on the street,” he explained. “The percentage of gold out here on the street is greater than the amount of gold you would find in a mine . . . It comes close to a mother lode because in the street, you’re picking up gold left by the industry.” With a reporter in tow, Stepanian took his Styrofoam cup of mud to a friend’s polishing studio on 47th Street near Sixth Avenue and demonstrated how he “pans” the precious particles like an old-fashioned prospector — by hand, in a small metal basin with water and a strainer.
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