There are many precious metals out there, but few are more well-loved than gold. Gold has been valued above other metals throughout history. There’s no one reason, but rather a combination of factors. These include:
(Pixabay / skeeze)
- Low supply. Gold is tough to find and extract. Only about 2,000 tons of gold are currently churned out each year. (Other metals such as steel are produced at a rate of over 10,000 tons per hour.)
- Unique qualities. Gold is an outstanding conductor of electricity. It is also very malleable and ductile, meaning that it can be pounded into razor-thin sheets and stretched into long, thin wires.
- Beauty. Plain and simple, gold looks good to the human eye.
In today’s global economy, gold has shown over and over that it can hold its value, but that isn’t unique to modern times. Gold rose to the top of the precious metal ladder in antiquity and has not yet lost its mojo.
Here’s a look at what we know about gold in ancient times:
Paleolithic times. Traces of gold have been found in Paleolithic-era caves dating back to roughly 40,000 B.C.
Ancient Egypt. The Paleolithic finding didn’t shed light on the interactions between man and the metal, but Egyptian artifacts do. We can see from these artifacts that pharaohs and temple priests had a high regard for gold, using it for everything from decorative household items to the capstones of the Pyramids of Giza. Egyptians also used gold as the basis for their currency exchange ratio, which defined the worth of one gold piece as being equal to 2.5 parts silver.
Ancient Turkey. The Kingdom of Lydia in Western Turkey was the first ancient civilization to use gold for currency.
Ancient Greece. Ancient Greeks also adopted gold as a form of currency. Immortal gods and demigods were often portrayed with vast stores of gold, cementing the precious metal as a status symbol in Greek society.
Bible civilizations. The people of the Bible clearly found gold, as shown in Genesis 2. Verses 10 to 12 mention a land called Havilah where people had discovered gold.
Today, gold serves as a safe investment, particularly in times of political crisis. After the U.S. invasion of Iraq in 2003, the price of gold shot up. As geopolitical skirmishes continued around the globe for the next five years, gold continued to increase in value. Gold has fallen in the past few years, but it’s a safe bet that if the political climate gets shaky again, gold will rebound.
Investments aside, gold continues to be very popular in various industries, including medical, aerospace, electronics, and, of course, jewelry.
At Gold Plating Services, we’re particularly fond of gold and its versatile properties. We can supply you with the supplies you need for 14k, 18K, and 24K gold plating and more. Our gold plating kits make the plating process fast, simple, and efficient.