When you are armed with your pickaxe you can go around the world and mine lots of gold where you get $10 per piece. If you mine all the gold available you should have enough or nearly enough to buy a lot of the upgrades, which will greatly help during your game. You can buy items such as extra healt and extra ammo slots and faster horse shoes etc.
If you mine all of the gold you will have no problem getting the upgrades and it should make your entire game a lot easier.
Here are the locations of all the gold, some are well hidden, but when you know where they are they are easier to find.
#1 - Starting from the ferry on dodge's side of the river, follow the river
and you will find the first gold location near the wall.
#2 - Go down the Dodge bridge, and traverse to the other side. From the other
side, continue down and you will find the gold location on the way down.
#3 - After the second location, continue forward till the end of the shore and
you will find the gold location in a cavern.
#4 - Before heading back up, follow the shore till you pass under the bridge
and you will find the next gold location.
*** You must now complete some missions till you first arrive to Dodge ***
#5 - In empire, go down the central ditch and head toward the big train bridge,
you will find the gold location at it's left corner.
#6 - In the same dich, go in the other direction following the brown river to
get to the next gold location.
#7 - #8 - #9 - Coming back from location #6, climb the first ledge passed the
barn and follow the canyon till you see the three gold locations on a ledge.
#10 - Leaving empire, cross the small wooden bridge and turn right immidiatly
after the bridge, follow the ledge as far as possible and at the end, climb
the ledges to find a gold.
#11 - #12 - Leaving empire, follow the right wall until you find a passage in
the wall, you will find the first gold location in the passage on the right
and the second gold location in a recess at the end of the plain by following
the right wall.
#13 - Leaving the small plain, continue following the rail, pass a farm,
passed a passage through the rock and you will find a gold on the right wall.
#14 - Continue following the same wall toward Dodge to find another gold.
#15 - Following the same path, return toward dodge, at the first train tunnel,
find a gold location on the top of the tunnel roof.
#16 - Continue following the train track toward Empire and you will find a
gold on a grass ledge.
#17 - Leaving Empire by the wood bridge, follow the rock canyon and you will
find a gold lcoation after the second ledge on the right.
#18 - Continue following the canyon and you will exit at Piper Lake (Piper LK
on your map). Follow the passage in front of you not the one on the left. You
will pass a rocky climb, take it to find a gold on top of it.
#19 - Next to the indian trader under the waterfall.
#20 - On the left of the lake barn hidden in the watery shore among the rocks.
#21 - Following the lake shore after the lake barn, you will find a rock climb
on the right and on that rock ledge you will find the gold.
#22 - Starting from the indian trader going toward Piper Lake by the left road,
you will find a small rise after two rock with a gold hidden behind a rock and
#23 - Continue after the rise and you will find a cave that you can enter to
find a gold. No need to follow the road upward, there is no gold up there.
#24 - From the indian trader go toward the indian hunter and you will find a
rise behind an old mine building that will have a gold behind the rock on the
#25 - From the indian hunter go toward and passed the walled train station
(mine) and you will find a gold on the left wall.
#26 - From the Dodge bridge, follow the right wall and you will climb a rise
that lead to one side of the broken archway, you will need to jump the arch to
get to the gold on the other side.
#27 - #28 - Continue following the road that passes under the broken archway
until you get to pass a small wooden bridge (don't cross the bridge). On the
right you will find a tunnel that you can climb. The first gold will be in the
tunnel behind a rock. The moment you exit the tunnel climbing up, drop from
the road to a ledge and follow that ledge to the left to find the second gold.
#29 - Continue following the road till you get to the point where the carriage
stopped for repair in the mission getting you to Dodge. You will find some gold
at the foot of a brown waterfall.
#30 - Continue following the road, pass the arch there will be two houses on
your right and as you continue to follow the road you will pass two mine
buildings on your left. At the end of the second mine building on the right
side of the road you will find a small ledge where you will find the gold.
#31 - Continue following the road and there will be a big mine building on you
right. You must climb behind and above it to find the gold.
#32 - Passed the following mine buildings on your left, you will see on your
right a building on wooden leg next to a climbing road. Climb the road and
follow the road till you pass under a rock and you will find the gold right
#33 - From the indian trader pass the stream and take the first pass on your
right. You will pass a steamy lake and take the first right after that. You
will arrive at some kind of open mine and a water stream, follow the water and
you will find a gold.
#34 - Climb the sandy rise till you get to a railroad bridge. Cross that and
take on the right to find a gold.
#35 - Return back down, follow the same water against the current to find a
gold at the end.
#36 - Come back a little from that location and you will be able to follow a
climbing road. Stop at the place where the stream is covered with small rocks
and follow again the water against the currant to get to another gold.
#37 - In front of the farm, you will find the BadLands (where the buffalo
grazes). Follow the wall on the right and you will find a gold.
#38 - #39 - In the BadLands plain, you will find a small mine in one of the two
rock formations. In the mine you will find two golds.
*** You must continue the missions till you can once again cross the river ***
#40 - Right after crossing the river in the passageway you will find a gold.
#41 - You are now in the area where you first raced to win a horse. Starting
from the race position, follow the race course till you get at the small
stream, on your left behind some rock you will find some gold.
#42 - Continue following the race track and after the first fallen tree there
will be a gold on the left on a grass rise.
*** You must continue the missions till you escape with the indians throught
the garbage chute ***
#43 - Once you are in the garbage chute, you will arrive at some water, turn
right immidiatly to find a gold behind the rock.
#44 - Once you exit the garbage chute cave, you will find the last gold on the
right behind some rocks.
Thanks to these locations you will be able to get $440 extra money. Some cannot all be gained at the beginning (there is a raft that takes you to dodge but then goes out of service until you have completed some missions) so you might have to wait to get some of the gold, but most are available as soon as you have bouth the axe. These are in order as well so it should make them easier to find.