The days of the old are gone, but modern technology makes it easier to locate precious metals. Finding gold in your backyard can be as easy as knowing what elements to look for and having a structured plan for using a modern metal detector.
Modern detectors now have chips built into them. Their cpu’s are designed to discriminate between ferrous and non-ferrous metals. They can pinpoint coins, artifacts and relics. Once you get to know your detector well, itshould even be able to tell you the type of coin buried in the ground based on magnetic signatures using low frequencies or pulse induction.
Some of the geological traits you need to look for is black sand. If you want to find gold in your back yard, this magnetic sand is usually where its at. Another hint of what possibly lies in the ground is the presence of Quartz crystals. It took a lot of heat, pressure and the right variables to form crystals.
If you have creeks, streams and rivers on your property you might have luck finding gold in your back yard. Do a search for building a sluice box and get a pan. Look for flakes and keep a log where your found them. This will get you closer to the source. The bigger the flakes the closer you are to the source. Remember those glaciers from thousands of years ago? Well, they pushed sand, gravel rocks you name it for thousands of miles. This gold gets stuck in rocks, crack and crevices. It gets worn over time and winds up downstream in small fast moving streams. Dig to the bedrock and look for black sand then sift and wash! The old timers have a saying. Gold is where you find it. Have a good time. Go explore!
Source: Based on my own experiences pursuing a metal detecting hobby.