And why it is so valuable
Gold is one of the most valuable and sought-after metals in the world. It has been used to symbolize wealth, success, and power by many civilizations throughout history. Gold is also valued because it can be quickly melted into gold bars or gold coins easy to trade. In this blog post, we will discuss some fun facts about Gold!
Throughout history, Gold has always held its value. Today it is the only metal that functions as money. Discover the properties, chemical composition, and history of Gold here.
Fun Gold Facts
All of the Gold on Earth was derived from meteorites that smacked the planet after it was formed some 200 million years ago.
The symbol for Gold, Au, is derived from the Latin name for Gold, aurum, which means “golden dawn” or “glow of sunrise.” The term “gold” derives words meaning “yellow/green.”
Pure Gold is very ductile. A single ounce of Gold (about 28 grams) may be stretched into a gold thread with a length of 5 miles (8 kilometers). Gold threads are also suitable for embroidery work.
Gold is the most malleable metal. Gold can be beaten into a 300-square-foot sheet with a single ounce. Because Gold reflects red and yellow light so efficiently, very thin sheets of Gold may appear greenish-blue.
Despite Gold’s heavy, thick nature, it is generally considered nontoxic. Gold metal flakes may be consumed in meals or beverages, although specific individuals are allergic to them.
Pure Gold is not used to make most gold jewelry. The karat scale is used to measure the amount of Gold in a necklace or ring. Pure Gold has a purity of 24 karats. Bars of pure 24-karat Gold stored at Fort Knox and elsewhere worldwide are considered to be 99.95 percent pure.
The amount of karats in Gold decreases when metals are added to it during jewelry manufacturing. 12 karat gold, for example, contains 50% pure gold and 50% alloy by weight.
The term “karat” comes from the carob seed. The seeds were used in Asian bazaars to balance scales that measured gold weight.
To keep up with the country’s growing gold reserves, the United States Bullion Depository was established at Fort Knox in Kentucky in 1937. In trains escorted by military troops, the first shipment of Gold came from Philadelphia.
Even though a 20-ton steel door was put up to defend it, rumors circulated in the 1970s suggesting that the Gold in Fort Knox had vanished. The director of the United States Mint led Congressmen and journalists on a tour of one chamber of the vault, where he displayed 8-foot-tall stacks of 36236 gold bars.
According to the U.S. Department of Treasury, each bar weighs 400 troy ounces. The avoirdupois ounce is equal to about 1.1 troy ounces. The current weight of the aggregate is 147.3 million troy ounces, which is worth about $130 billion in today’s market prices.
According to Lawrence Livermore National Laboratory, “Two-thirds” of the world’s Gold is mined in South Africa.
It’s more challenging to come across a one-ounce nugget of Gold than a five-carat diamond.
A cube that is 65.5 feet (20 meters) on a side may contain all the Gold ever refined throughout history.
Gold is not magnetic.
The Gold found in California’s Sacramento Valley, the Feather River region, was worth an estimated $150 million to prospectors during the gold rush era of 1849–1852.
In 1987, a man from North Carolina paid about $27 for a box full of junk metal at a flea market and discovered nuggets of Gold in his hand. The Gold was mined from the North Carolina gold belt, stretching over 100 miles (160 km) through the Piedmont region.
Since Gold is often found in conjunction with quartz, it has been used to make glass. Gold was the first metal that humans learned how to alloy with mercury to create gold amalgam.
Gold is considered a noble metal because of its resistance to corrosion and oxidation. Other examples are copper, silver, platinum, iridium, and palladium.
Gold has a high density of 19 g/cm_ which allows it to sink in water.
Gold does not react with most chemicals or acids, but chlorine will combine with gold metal at elevated temperatures forming gold chloride (AuCl_). In addition, gold metal will react with aqua regia, a mixture of nitric acid and hydrochloric acid.
Gold is also valued for its use in gold plating, gold leafing, and gilding. Gold thread made of 12 or 14-carat Gold has more than 100 million turns per one kilogram. The extremely fine gold threads decorate fabrics, furniture, and other items that require some glitter effect.
Gold is used in medicine, dentistry, and electrical connections. Gold salts are necessary as anti-inflammatory drugs or ointments for skin diseases. More than 20 million gold rheumatism patients receive gold injections every year to relieve their symptoms of inflammation without having any side effects.
Gold iodide crystals have been added to cancer research because gold ions have been found to slow down the division of cancer cells.
More than 80% of gold jewelry produced in the U.S.U.S., Mexico, Hong Kong, and India is recycled Gold!
Gold is the only metal that occurs as a native metal.
Gold does not need pressure to form into gold metal. Still, Gold is often pushed deep below the Earth’s crust, where it forms in quartz veins by hydrothermal activity or magmatic activity, which heats rocks so much that Gold separates from the surrounding minerals. Gold has been found on every continent in gold deposits, but the Gold found in South Africa is the richest.
The gold industry has been going on for more than 5000 years since Mesopotamia and Ancient Egypt when Gold was used to make utensils, jewelry, and coins. Gold mining activities have increased over time because of a growing population which means more people want Gold.
Gold has been used in art and architecture since about 6000 BC when Gold was first mined because it does not rust or tarnish like other metals, so gold can be shaped easily to make utensils, jewelry, and sculptures which means Gold lasts a long time!
Gold is the most malleable gold metal, so it can easily be stretched or hammered into gold leaf, which artists have used for thousands of years to paint religious icons, paintings, and frames! Gold painting began in China around 400 BC when Gold was pounded into gold leaves using a hammer.
More than half of all Gold ever mined throughout history would fit in an Olympic-size swimming pool!
Gold is Gold, not yellow Gold because Gold reflects yellow light, which means that if you shine white light on Gold, it will reflect all the different colors of the spectrum. Gold’s color has changed over time, so ancient Egyptians used gold beads to paint their skin dark brown, while people today use makeup and spray tans to get gold skin.
Gold conducts electricity, so it is used in many electronic devices like gold microphones, gold-plated connectors for T.V.sT.V.s and DVD players, and gold switches inside computers, which are essential parts of modern technology!
Gold has been used in significant historical events like Nobel Prize medals, Olympic gold medals, gold coins, and gold bars for over 5000 years!
According to Wikipedia, “Gold is a chemical element with the symbol Au (from Latin: aurum) and atomic number 79, making it one of the higher atomic number elements that occur naturally.
It is a bright, slightly reddish yellow, dense, soft, malleable, and ductile metal in a pure form. Chemically, Gold is a transition metal and a group 11 element.
It is one of the least reactive chemical elements and is solid under standard conditions. Gold often occurs in free elemental (native) form, as nuggets or grains, in rocks, veins, and alluvial deposits.
It occurs in a solid solution series with the native element silver (as electrum), naturally alloyed with other metals like copper and palladium, and mineral inclusions such as within pyrite. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).”
Gold as money
Gold has been used as money for over 5000 years. Gold coins are Gold’s most recognizable form of Gold in use today.
Gold coins are used as gold bullion gold bars, gold nuggets, and gold dust.
Many countries have used Gold as their primary form of currency, including Britain’s gold pound, introduced in 1821 to replace the silver-based British pound. Gold standards were common during The 1800s when many countries fixed their currencies to Gold.
Gold is still used as money today in places like the United Arab Emirates, which makes use of gold dinars, gold-backed banknotes, and gold dirhams — a currency unit equal to three-tenths of an ounce!
The first known coin made from Gold was introduced around 650 BC by King Alyattes, who ruled Lydia in modern-day Turkey. Gold coins were popular with the Ancient Greeks and Romans, which is why Gold now has many slang terms derived from Greek and Latin like ‘bread’ for Gold because Gold was used as payment to feed slaves in ancient Greece!
The first paper money backed by Gold appeared around 800 BC when China began using banknotes made of deerskin and gold dust.
Gold started to rise in 1970 when President Nixon decided that U.S.U.S. dollars should be based on how much Gold they were worth instead of being backed by Gold at a fixed rate. Gold prices then hit an all-time high in 1980 when gold cost over $800 per ounce!
Gold can be bought as gold coins, gold bars, or gold jewelry. Gold is also traded on the stock market with shares in mining companies known as gold stocks.
I hope you found this gold facts article interesting and informative.
Gold truly is ‘The king of all metals’
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