The metal is abundant enough to create coins but rare enough so that not everyone can produce them. Gold doesn’t corrode, providing a sustainable store of value, and humans are physically and emotionally drawn to it. Societies and economies have placed value on gold, thus perpetuating its worth.

How rare is gold rare?

The abundance of elements in the earth’s crust is often measured in parts per million (ppm). Of the three precious metals (gold, silver and platinum), gold is the rarest (0.004 ppm), followed by platinum (0.005 ppm) and silver (0.075 ppm).

Why is gold so expensive?

But other metals that are rarer than gold are much cheaper. So, why is gold so expensive? Gold is a relatively rare metal with lots of versatility. It’s highly malleable, meaning it can be deformed or changed without fracturing the material.

What is the rarest kind of gold?

Standing just over 4.7 inches tall and weighing roughly half a pound, the yellow curlicues of precious metal represent the rarest form of gold ever found.

Why is gold so rare in the universe?

That’s not because of a failure to mine more. Gold is rare throughout the Universe because it’s a relatively hefty atom, consisting of 79 protons and 118 neutrons.

Why do people think gold is so valuable?

Because others believe that gold has value, you do too; and because they think that you value gold, others value it too. From an elemental perspective, gold is the most logical choice for a medium of exchange for goods and services. The metal is abundant enough to create coins but rare enough so that not everyone can produce them.

Which is the rarest element silver or gold?

That leaves just two elements – silver and gold. Both are scarce but not impossibly rare. Both also have a relatively low melting point, and are therefore easy to turn into coins, ingots or jewellery. Silver tarnishes – it reacts with minute amounts of sulphur in the air. That’s why we place particular value on gold.

Why is gold not used up as a commodity?

Still, regardless of gold’s final destination, its chemical composition is such that the precious metal cannot be used up. Because of this, the supply/demand argument that can be made for commodities like oil, copper, grains, etc, doesn’t hold for gold.