The precious metals industry tends to attract a lot of onlookers, but it also shrouds itself in a layer of mystery. For centuries, people have accepted that gold is a very valuable precious metal even though its day-to-day use is almost gone today. What is it that makes gold so valuable?
Standing out Among the Pack
Considering how there are many “noble” metals out there, one has to wonder why gold has become “the chosen one”. Silver, palladium, titanium, and consorts all have value as well on the market. However , their prices are very different, and none of them have ever been considered to be the number one precious metal. Why is gold valuable? Gold is, and probably always will be, the only precious metal to have had a monetary system tied to it.
There are reasons why gold is perceived as “superior” to these other noble metals. Silver, the little brother to gold, suffers from tarnish. As it is exposed to the air, it will react with sulphur. This interaction is invisible to the naked eye when it happens, but over time, silver coins and bars lose their sheen, and start showing signs of discoloration.
Gold Vs Other Metals
This situation is not unique to silver either, unfortunately. Palladium and platinum tend to degrade much slower, but they too will show telltale signs if not handled carefully. Additionally, both of these metals are too rare to be used on a large scale.
It all comes down to how the precious metals are handled, stored, and taken care of. Combined with environmental factors, it is evident that everyone factors the only noble metal not suffering from any of these effects: gold.
Gold, The Paramour
Anyone who has ever looked at gold from close range will acknowledge that it is incredibly captivating. The natural glint of this precious metal tends to catch the eye, even if it is an untrained one. This metal has unique colors which come out due to Mother Nature. Other metals require ample polishing and texturing to bring out their best side.
The mysterious nature of gold doesn’t just extend to how it looks. The way that this metal is created in the Earth, and where it can be found, is equally mystifying.
Many people have gone “gold crazy” after finding a shiny piece of this metal. It does something to the human mind that isn’t entirely akin to greed, but it goes well beyond sheer curiosity as well. Whether one is a novice or an expert, gold has a certain “draw” to it that cannot be denied or ignored.
It’s Easy to Work With
Smelting gold is a very easy and straightforward process compared to handling any other precious metal. All one needs is a strong burning flame and a lot of patience. No specific tools or hardware are needed, although it is always best to use the proper materials.
Because gold is easier to work with, it quickly became the favorite for using it as a metal for coins, many centuries ago. It can also be formed into jewelry – among other things – giving it a plethora of use cases.
Gold Always has Value
In this modern day and age, using physical gold is impossible in virtually all stores. Paying online orders with it is out of the question as well. Yet none of that means there is no longer value to having physical gold in one’s pocket.
While gold cannot be eaten or drank, it certainly can be used to obtain sustenance anywhere in the world. Everyone recognizes the value of gold, and most people are willing to offer some food and drinks in exchange for a gold item. Whether it is a small bar of pure gold, a golden ring, or a nugget dug up from a river yesterday, there will always be takers.