Saw this video about gold, it’s chemical structure and malleability. I still don’t understand why gold is worth anything at all……
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Just like cloth or pieces of plastic with people’s faces on it, gold has value because people say it does.
Gold has properties that make it valuable as currency or a sign of wealth. It is scarce, easy to stamp and form into coins or objects like rings, it is resistant to decay and corrosion. Gold was also relatively easy to get out of the ground in the past.
All precious metals have value due to the limited amount there is available on this planet. They are not natural forming on earth so whatever is here is it. Unless we start mining asteroids or some other planets….
A couple reasons. It has value because other people think it does and have thought so forever. It doesn’t deteriorate which is one reason people have valued it forever. And it’s pretty.
The last thing sounds like a joke but it’s not. Gold has “use value” meaning you can still do something with it even if you’re not using it as money. Something you can do is make pretty jewelry until you want to spend it. So gold is more valuable than tin foil because it’s prettier than tin foil, deteriorates less than tin foil, and people know and expect that about it.
Just like cloth or pieces of plastic with people’s faces on it, gold has value because people say it does.
Gold has properties that make it valuable as currency or a sign of wealth. It is scarce, easy to stamp and form into coins or objects like rings, it is resistant to decay and corrosion. Gold was also relatively easy to get out of the ground in the past.
it’s extremely rare. that’s really it. most things that are very rare have a lot of value. yes it’s nice to look at and had a lot of uses but if it wasn’t rate it wouldn’t be so expensive
Lots of elements are rare, but gold is more valuable than its rarity alone explains.
The other component is its unreactivity, the fact that it is in a very chemically stable state (it doesn’t rust or oxidise)
If you make something out of gold, it will look pretty much the same in 1000 years or 100,000 years.
it’s extremely rare. that’s really it. most things that are very rare have a lot of value. yes it’s nice to look at and had a lot of uses but if it wasn’t rate it wouldn’t be so expensive
Lots of elements are rare, but gold is more valuable than its rarity alone explains.
The other component is its unreactivity, the fact that it is in a very chemically stable state (it doesn’t rust or oxidise)
If you make something out of gold, it will look pretty much the same in 1000 years or 100,000 years.
It’s soft, shiny, and melt at low temp, which makes it useless for any purpose for the longer part of history. Silver was in the same boat.
Since gold cannot be used to make tools, it’s fine to be used as currency and decoration. It also doesnt rust so its quite ideal for jewelry. The traditions carry to modern times and we continue to use it to hoard wealth.
It’s soft, shiny, and melt at low temp, which makes it useless for any purpose for the longer part of history. Silver was in the same boat.
Since gold cannot be used to make tools, it’s fine to be used as currency and decoration. It also doesnt rust so its quite ideal for jewelry. The traditions carry to modern times and we continue to use it to hoard wealth.
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