In 1848 gold was discovered at Sutter's Mill and things would never be the same for the sleepy little village of Yerba Buena. The first effect was that the village itself was abandoned as the inhabitants scrambled to stake claims at Sutter's Mill. As word reached the outside world it set off a frenzy of activity as men of all descriptions tried to get to California to file their claim on this golden opportunity. From all corners of the world ships were filled with men desperate to make their fortunes. When the ships reached San Francisco passengers, crew and officers were over the side before the anchor touched bottom. The ships were left abandoned with no chance of getting a crew. Some 800 ships arrived off of Yerba Buena Cove and were abandoned this way. Yerba Buena exploded into the city of San Francisco and many of the ships close to shore were used for storage or broken up for building material. Most however remained at their moorings and slowly decayed, a ghost fleet only.

The painting shows two fishermen enjoying a smoke and a few good yarns. They probably have numerous stories of the gold fields and of the ships around them. A full moon and few wisps of fog set the mood for a few good ghost stories.