Gold. It’s shiny, metallic, and melts easily into bars, coins, or jewelry. It doesn’t rust, corrode, or decay. Gold is… well, golden. But why is gold so valuable, both in our mind’s eye and in reality in terms of a global store of value and medium of exchange? Why is silver relegated to a distant second place, and what about poor old copper, which shares many of the same physical attributes as gold?
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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. 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.
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