Gold: What You Need to Know

Athletes that spend countless hours training for the Olympics all have their sights set on one thing, gold. Back in the mid-1800s, settlers were also in a race across the United States just to get a small handful of it. At one point, our American dollar was backed by gold. Tutankhamun, the young pharaoh of Egypt was laid to rest in a 250-pound coffin crafted and laden in it. Gold: what you need to know.

Gold: What You Need to Know 

Historians have stated that gold has helped shape history and the world in which we live. Many empires and nations have risen and come crashing down because of the influence of this precious metal. But why is gold seen as something so valuable and a prize suitable for a king? After all, it’s just a shiny chunk of metal. Or is it? There may be more to it than what meets the eye. Here’s more on gold and everything you need to know about it. In case you missed this post 20 Small Ways You Can Save Money

Gold Facts

Up until 1912, gold medals at the Olympics consisted of 100% real gold. Ever since then, they only contain around 1.34% pure gold. That’s a bummer.  

Every year, 46 tons of gold is used for fillings at the dentist’s office. But don’t worry, it’s estimated that only about 20% of the gold on this planet has been mined at this point. 

Following the attack on the World Trade Center and the uncertainty that it caused, the price of gold rose to an all-time closing high of $1,895 per ounce, at the time. 

Did you know that your body contains small traces of gold? It’s true. Every human being has around .2 milligrams of the metal in our bloodstreams. Just in the last 15 years, gold has gone up over 500%! That’s why your parents or grandparents always called you precious. (Just kidding.)  

Gold can be used as a conductor of both heat and electricity. Pure gold is so soft, that it can be molded simply by using your bare hands. A single ounce of it can be made into a small wire that stretches over 50 miles long.   

Basic Info on Gold 

Gold is a rare and dense metal that is mined out of the earth’s crust. It may be dense, but it’s also very soft, which makes it a good metal for artists and jewelers to work with. It’s been used since ancient times as a symbol of royalty and nobility. In fact, 75% of all the gold that’s been mined has been used to make jewelry.  

It’s naturally inert, which means that it generally does not have a chemical reaction when exposed to other elements. Gold will remain beautiful and shiny no matter what it comes into contact with. It’s even edible for you and me, where it’s used in coffee, tea, specialty candies, and dessert toppings.     

Gold and Technology

I’ve already mentioned that gold has been used for over 3,000 years by dentists whenever you need a filling, but it’s used in a number of other ways when it pertains to technology. It’s been used to help treat arthritis, along with targeting inflammation in certain areas of the body. 

There are even cancer treatments that coat their medicine capsules in gold in order to target specific areas. Even space programs like NASA use gold on their space equipment to protect against radiation.   

Gold Coins vs Bullion

When a gold company gives you the choice of having your gold shipped to you in coins or billions, there is a difference that you need to be aware of. If you do decide to purchase gold coins, be sure that they are certified and have been verified by another reputable party. Their value is based on their rarity, which could make them a priceless collector’s item. 

That being said, if gold bullions lose their value, there’s a good chance that your gold coins will not. Make sure you do a bit more research to find out what’s best for you. 

How to Get Your Hands on It

You don’t have to be royalty to enjoy your own share of gold because it’s not as difficult to get your hands on some like it once was. No, it might not be as easy as going to your bank and withdrawing a bar of it, or lining up in front of Fort Knox. You can go online and find a gold dealer (watch out for fraud and do some research first) that you can purchase from. Don’t expect to pay what price is stated in the marketplace. There’s usually a premium that is required.  

Gold is very expensive, so you’ll need to save up a lot of money if you’re looking to buy some. To give you some perspective, just to buy a quarter-ounce coin, you’re looking at spending a few hundred dollars. Wowsers! 

One of those dealers you can try is Digital Gold, where your gold is electronically bought, sold, or redeemed online. They’ll store your gold for you, and put it on an electronic ledger with proof of purchase, or you have the option of having it shipped to you in gold coins, bars, or rounds. 

Final Word

Gold is one of those precious items that you’ll want to have your hands on if our country was to fall into serious trouble. In fact, the value of it tends to soar when times become hard, like a debt crisis, or another bad news scenario. If you’re interested and want to find out more, here’s more info on investing in gold. What did you think about this resource, gold: what you need to know? Stay safe, stay well. May God bless this world, Linda

Copyright Images: Gold Deposit photos_8330429_s-2019, Gold or Bullion Deposit photos_20063789_s-2019 (1)