The history of gold
Historically gold holds a lot of significance and we can see its consistent usage through the pages of history:
- Gold was first used as money in Asia Minor around 700 BC. The Lydians were among the first people to use gold coins as money, an invention that spread throughout Asia Minor and then all over the world.
- It is no coincidence that the very word “money” is rooted in “moneta” – the Latin word for “mine” or “mint.” The earliest coins were first minted at Lydia’s legendary Agora Mint around 600 B.C.
- The Romans initially used silver bars, but eventually adopted gold coins as well. Many cultures in ancient times used both gold coins and silver coins as money – they were not mutually exclusive currencies.
- As one of the seven metals of antiquity (the others are silver, mercury, copper, tin, lead and iron), gold was considered by Aristotle to be the noblest metal of them.
But why is gold so valuable?
A simple Google research of gold price today Agra or any other city will tell you that gold is indeed very valuable and if you keep a track of these prices you will find that it rarely drops in prices. Gold has been valuable for a variety of reasons:
- For starters, it is physically rare.
- It also doesn’t degrade or corrode over time, so even ancient gold jewellery and coins are still just as shiny and lustrous as they were when they were first crafted many centuries ago.
- Gold is also easy to work with and can be pounded into very thin sheets (known as a gold leaf) that can be used to gild or coat other surfaces such as artwork, architecture, books, and even food. It can also be drawn into filaments used in electronics.
- Gold is malleable enough that it can be made into thread and used in embroidery. And because of its high density, gold is heavy enough that it does not blow away like other lightweight metals.
- These characteristics make gold an easy substance to acquire and store for future use. But perhaps most importantly, gold has always had value because people have assigned value to it recently electronics because people understand its ethereal beauty and physical properties
Today, we appreciate gold not simply for its beauty and elegance but also for its role in diverse areas such as electronics (where its conductivity is invaluable), medicine (where its radiopacity makes it useful in radiation therapy), dentistry (where it’s used in crowns). Additionally, it has been used by cultures around the world for thousands of years as currency, art, jewellery and more
Default medium of exchange
Many alternative resources have been tried through the years – paper, tea leaves, tobacco leaves, shells, beads, and rare stones. But none of them provides all three key attributes: scarcity, durability and divisibility. Only gold fits the bill as a viable currency in a post-apocalyptic world. In a disaster scenario that eliminates paper money, gold is one of the only substances that wouldn’t lose its value or use. Hence this guarantees the sustainability of its value.
In addition to its physical properties, gold has some powerful psychological value as well. Gold is beautiful and rare. Gold triggers a deep emotional response in human beings. A desire for gold is by now ingrained in our DNA and you can confirm this by finding out gold rate today Mumbai or Bangalore and you will see for yourself the desire for gold that people have.