Posted in: Investing
Common Uses of GoldGold has long been the most sought after metal on Earth and it/s easy to see why. Gold’s characteristics make it perfect for a vast array of different uses. From the beginning of recorded history, humans have been searching for gold, whether the conquistadors of Spain or the explorers of China. The first use most people think of when they hear the word gold is jewelry and for good reason. Gold is highly malleable, allowing jewelers to shape and mold gold in a number of different ways, creating necklaces, rings, and other pieces of jewelry more easily than other metals. Additionally, gold is unparalleled in its resistance to tarnishing, meaning it will maintain its beauty for decades or even centuries. Gold has always been sought after for its use in jewelry and that’s no different today. Vast collections of gold jewelry have been found in the tombs of kings and the pyramids of Egypt. Today, of all the gold consumed each year, 78% goes toward the creation of jewelry. These same qualities that make gold ideal for jewelry also makes it a perfect metal for coins, another application that’s been in place for thousands of years. Gold has been used as currency for about twenty-five hundred years and, until recently, was the primary means of currency, either directly through gold coins or indirectly through paper money that was backed by gold. For the same reasons that gold is used for jewelry and currency, it is also used for trophies and medals. Everyone is familiar, of course, with Olympic gold medals. However, other awards such as military and civilian medals and trophies such as the World Cup trophy are made out of gold as well. Gold is also used in modern electronics. Due to gold’s properties that allow it to efficiently conduct electricity while resisting corrosion, gold is used in electronics where conductor failure can have grave consequences, such as in the space shuttle. Another common use of gold in electronics is in the manufacture of cell phones and GPS units. The average cell phone is said to contain $.50 worth of gold. If you’re interested in adding to your gold collection, give United States Gold Bureau a call. One of our representatives can speak to you about our inventory and prices today.
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