Gold has been prized throughout human history due to its scarcity, combined with a unique selection of properties that led to its use as a currency. Gold is rare, making up just five parts per billion of the Earth’s crust, so only very limited quantities are mined every year, making it a stable currency. Gold is also remarkably unreactive and does not oxidise like silver or iron, so gold coins do not lose or gain weight over time. While other metals such as aluminium, platinum or silver look quite similar, gold is the only yellow metal, rendering it instantly recognizable. Gold’s attractive appearance has also made it a popular material for jewellery and other adornments. Gold’s malleability allows it to be moulded into different shapes and divided easily. Hence the cost!
Answers
Satyajeet Nayak
Gold has been prized throughout human history due to its scarcity, combined with a unique selection of properties that led to its use as a currency. Gold is rare, making up just five parts per billion of the Earth’s crust, so only very limited quantities are mined every year, making it a stable currency. Gold is also remarkably unreactive and does not oxidise like silver or iron, so gold coins do not lose or gain weight over time. While other metals such as aluminium, platinum or silver look quite similar, gold is the only yellow metal, rendering it instantly recognizable. Gold’s attractive appearance has also made it a popular material for jewellery and other adornments. Gold’s malleability allows it to be moulded into different shapes and divided easily. Hence the cost!