What Makes Gold Such a Precious Metal – Why Do People Collect It?

Now more than ever, people are looking into ways to expand their wealth in a form that feels secure. For some people, that involves investing in the stock market or purchasing real estate. For others, it’s investing in precious metals. With a range of precious metals to choose from, people have options on the size, shape, and quality of the precious metal of their choice. Still, many people end up choosing gold as the precious metal they wish to invest in.

Many people equate gold with wealth and want to include it as a part of their investment portfolio. Gold is used in a variety of industries, from industrial equipment to jewelry, and is collected by many. Its popularity isn’t a fad, as it has been around for millennia, and has always been of value to people. Here are a few reasons why people feel gold is the best precious metal to collect.

Resistant to Corrosion

When you invest a large amount of money into something, you want it to last forever. Though very few things actually can last forever, some are made to last far longer than others. Gold is one of them. It stands out from the crowd due to its ability to withstand harsh and natural conditions while maintaining its appearance. Just think of the gold uncovered by archaeologists at ancient sites in Egypt and Greece.

With that kind of reassurance, gold is typically the most popular and most-talked-about precious metal. Still, knowing the exact reasons why gold can stand the test of time can bring even more assurance to people thinking about investing in the metal.

Gold, unlike many other metals, is non-reactive, which makes it resistant to corrosion. It’s actually the most non-reactive precious metal and isn’t affected by elements like oxygen, which is what causes corrosion and tarnishing on other precious metals, such as silver. Not having to worry about nature interfering with your investment is just one of the many reasons why people think it’s superior.

It Has Been Used as Currency for a Long Time

People weren’t always buying things online. Before there were credit cards and checkbooks, people had to use things that felt valuable to trade for goods and services. Back then, only something that was both hard to find and hard to attain could be considered of value. Unlike the more popular forms of currency today, like paper dollars and the change in your coin jar, gold has long been a form of currency for humankind. Using gold as currency dates back thousands of years to ancient civilizations. People use it to trade for other useful things of value.

Its Use Is Popular in Many Modern Industries

For a long time, people have found a large variety of ways to use gold in their products. Everything from art to musical instruments to industrial equipment has been known to use gold. But one of the most recognizable industries to use gold is jewelry.

Because of its longtime value, having gold has become a symbol of wealth in society. To display that wealth, people choose to wear gold in the form of jewelry. This behavior dates back thousands of years, but gold jewelry is still a thriving business that attracts many customers. Gold is easy for jewelers to manipulate into many different styles and shapes. On its own, gold is a yellow color, but mixed with other precious metals, it can appear in a variety of shades, ranging from silver or even pink or green. Its versatility and consistent value make it a top choice for jewelry.

It’s Rare

While gold isn’t the rarest metal, it’s still considered to be a rare find. Mining it in large quantities takes lots of time and manpower, making it more valuable when it’s found. Unlike some other metals, gold isn’t mined in big chunks. On the contrary, it’s often found embedded in other minerals deep within the ground and is in very small pieces. Because of its value, even the smallest pieces of gold are worth something, so some people even mine particles so small that they can’t be seen without the help of a microscope.

Most times, gold is found through panning done by miners. During Gold Rush in the 19th century, miners panned for gold in the American West and in Alaska. Panning is a process where miners immerse special pans into the water of a stream and shake the mixture to release the sand and reveal tiny gold nuggets. Some people became wealthy during the Gold Rush years, and hunting for gold became a more common career choice. But not everyone became rich. Finding gold takes skill, a good eye, and a little luck.

It Has Remained Valuable

Gold has long been a valuable precious metal, and there are times in today’s economy when its value holds strong while others falter. During financial crises, the value of gold is said to increase. In instances where the stock market drops or the economy is failing, the value of precious metals such as gold typically rises. There are a few reasons why this happens, and they offer incentive to begin collecting gold.

One reason gold remains valuable even during a financial crisis is that it’s a physical asset. During times of financial crisis, the value of a paper dollar may very well be worthless. If the stock market drops, the money you have invested in stocks may disappear. This isn’t an issue with gold. Despite the state of the economy, the gold you own and its value are able to stay in your possession.

An economic crisis also increases the demand for gold, which further increases its value. As more and more people want gold, it becomes rarer and more valuable to own.

Interested in learning more about investing in gold? Talk to a representative at Swiss America to get started.

The post What Makes Gold Such a Precious Metal – Why Do People Collect It? appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/money/personal-finance/gold-precious-metal-collect/

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