Gold is an actual tangible resource that can be collected and used for purposes other than simple commerce. This means that even scrap gold jewelry or reclaimed metal from circuit boards can hold great value. Value fluctuates over time due to the amount of gold on the market versus the number of people purchasing it. The gold price on February 20, 2015 was over $1200 when the main trading houses closed down for the day.
This tells us that even a single ounce of pure gold jewelry, regardless of the condition it is in, will be worth at least that much on the open market. If you have any scrap gold jewelry or rings lying around, weigh those items and compare it to how much a single ounce is worth in early 2015. Gold, is valuable and will remain so.
Why is Gold Valuable?
Gold has been considered a financial resource for well over five thousand years. The oldest gold valuation known is from ancient Egypt in the year 3100 BCE. One part of gold was considered to be equal to two and a half parts of silver. As an actual currency that was made in the form of gold coins, it can be traced back as far as 700 BCE. However, these coins crafted by the Lydians were actually a gold and silver mixture known as electrum. True gold coins came about a little later, however the value of gold as a financial resource has remained in public awareness since this time.
The structure of gold allows it to avoid issues of corrosion that other metals face. Items made from gold will last a very long time if it is not damaged directly or melted down, so much so that it might as well be considered an eternal item. Due to the longevity of gold it gained value over time. It also has an appearance that many find beautiful, pristine. This has caused it to be seen as something useful for jewelry making purposes.
Modern gold usage has gone beyond making items like a gravy boat that will not corrode, or a pretty necklace. The precious metal formerly owned by kings and the wealthy elite has become a common place material that many people from all walks of life utilize every day. Electronic circuit boards, dental implants, and specialized insulators are all formed using varying amounts gold. As long as we have a need for a non-corroding material that can be used for technological components, gold will always have a decently high value per troy ounce.
Gold will always have value as a resource, and that means that it will always have a financial value as well. Even if civilization comes crashing to an end and technology reverts to the stone age, gold will still have some value. If nothing else it can be used to make easily cleaned cups and cookware that will not corrode over time. A non-corroding malleable metal with many uses cannot be overlooked as a viable and useful resource to have, regardless of its value compared to the euro or the US dollar. Talk to experts like Rocky Mountain Coin Inc for more information.