5 Interesting Facts About Gold

A lot has been said about physical gold being a safe haven investment, that protects wealth against recession and a whole lot more. However, there is more to gold than just being a serious financial asset. Keep this thought the next time you look at your gold. Here are some of the most interesting facts that will make you see gold bullion or gold in general in a different light:

1. Gold is one of the rarest elements.

Gold is extremely rare. It makes no more than 0.003 parts per million of the earth’s crust. it can be found in the seven continents that make up the world today. However, gold isn’t just found in the earth but is has been estimated that 10 billion dollars worth of gold can be found in the ocean. This means there is 25 tons of gold in the world's oceans. 

Gold is a big atom which means it is incredibly hard to produce, you need a lot of heat and pressure, the kind that Is generated by giant stars when they go supernova. The earth’s crust has 92 elements and gold is the 58th in rarity. Besides earth, scientists believe that this precious yellow metal can be found in other planets, particularly Venus, Mercury and Mars.   

2. Gold coins date back to 700BC 

The first gold coins were produced in Lydia, which is in modern-day Turkey, between 700 and 650 B.C. The first coins weren’t made of pure gold but a metal alloy called spectrum made up of silver and gold. The gold was found in the rivers in that region. It took Lydian king Croesus to produce the first gold coin that was actually pure. These days there are hundreds if not thousands of gold coins minted everyday. The coins you have inherited or might have acquired on your own might not be that old. Gold is a great investment for many who find that they can easily get quick cash in times of an emergency by selling their gold coins. However if you sell gold bullion coin that is old or rare, there is a possibility you could get a higher price for it. 

3. 187,200 tons of gold has been mined globally

According the World Gold Council, about 187,200 tons of gold has already been mined. Only two thirds of that amount was mined in the last seven decades. If you were to take all the gold ever mined it will be a cube measuring 21 meters on either side. 

There is approximately 57,000 tons of unmined gold in the world. That might sound like a lot but you have to bear in mind that some of this gold is buried so deep digging for it would need new technologies that come at a higher price. This is still not enough gold to last forever but thankfully, gold is recyclable which is why the gold industry encourages people to sell their old gold or scrap gold to supplement the demand for gold products. When you sell gold bullion you won’t be quoted the same way as someone who is selling jewellery or scrap gold because gold bullion is generally of the highest purity and certified. It's value does not only depend on the gold content but it also depends on their things like the condition of the bullion and which refinery made it.

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sunil Joined: November 19th, 2019