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Gold Info

Gold

“Those who had something of gold, were in possession of something of great value on earth and a substance to even help souls to paradise.”

                             - according to Christopher Columbus

 

Gold is imperishable, you can do anything you want with it and to it, but you cannot make it disappear.

 

Gold is a dense, soft, shiny malleable and ductile metal and is a chemical element with the symbol of Au and atomic number 79.  Pure gold has a bright yellow color and luster, which it maintains without oxidizing in air or water.

 

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Gold is so rare that the world pours more steel in an hour than it has poured gold since the beginning of recorded history. (b)

 

Gold has been discovered on every continent on earth. (b)

 

Gold and copper were the first metals to be discovered by humans around 5000 B.C. and are the only two non-white-colored metals. (b)

 

Gold being the most malleable of all metals, can be beaten into a sheet of 1 sq. meter, or and ounce into 300 sq. ft. using only 1 gram of pure gold.  Or, you could draw the same ounce of gold into a wire fifty (50) miles in length.

 

Due to its high value, most gold discovered throughout history is still in circulation. However, it is thought that 80% of the world’s gold is still in the ground. (b)

 

Seventy-five percent of all gold in circulation has been extracted since 1910.

 

 

A total of 165,000 tonnes of gold have been mined in human history, as of 2009.

 

Gold has been used as a symbol of purity, value, royalty and particular roles that combine these properties.

 

Gold is the least allergic of all the metals and the superior choice to prevent rashes, itches or infection.

 

In medieval times, gold was often seen as beneficial for the health, in the belief that something so rare and beautiful could not be anything but healthy.

 

The Mines of South Africa can descend as far as 12,000 feet and reach temperatures of 130°F.  To produce an ounce of gold requires 38 man hours, 1400 gallons of water, enough electricity to run a large house for ten days, and chemicals such as cyanide, acids, lead, borax, and lime. In order to extract South Africa’s yearly output of 500 tons of gold, nearly 70 million tons of earth are raised and milled. (b)

 

Only approximately 142,000 tons of gold have mined throughout history. Assuming the price of gold is $1,000 per ounce, the total amount of gold that has been mined would equal roughly $4.5 trillion. The United States alone circulates or deposits over $7.6 trillion, suggesting that a return to the gold standard would not be feasible. While most scholars agree a return to a gold standard is not feasible, a few gold standard advocates (such as many Libertarians and Objectivists), argue that a return to a gold standard system would ease inflation risks and limit government power. (d)

 

 

The first recorded gold ever discovered in the United States was was a 17-pound nugget found in Cabarrus, North Carolina.  When more gold was discovered in Little Meadow Creek, North Carolina, in 1803, the first U.S. gold rush began. (c)

 

In 1848, while building a saw mill for John Sutter near Sacramento, California, John Marshal discovered flakes of gold. This discovery sparked the California Gold Rush and hastened the settlement of the American West. (c)

 

The San Francisco 49ers are named after the 1849 Gold Rush miners. (c)

 

In 1933, Franklin Roosevelt signed Executive Order 6102 which outlawed U.S. citizens from hoarding gold. Owning gold (except for jewelers, dentists, electricians, and other industry workers) was punishable by fine up to $10,000 and/or ten years in prison. (d)

 

The purity of gold is measured in carat weight. The term “carat” comes from “carob seed,” which was standard for weighing small quantities in the Middle East. Carats were the fruit of the leguminous carob tree, every single pod of which weighs 1/5 of a gram (200 mg). (b)

 

"Karat" with a "K" is used with precious metal weight.

"Carat" with a "C" is used with diamond or gemstone weight.

 

Karat weight can be 10, 12, 14, 18, 22, or 24.  The higher the number, the greater the purity.  To be called “solid gold,” gold must have a minimum weight of 10 karats.  “Pure gold” must have a karat weight of 24, (though there is still a small amount of copper in it). Pure gold is so soft that it can be molded by hand. (b)

 

The House of Solid Gold uses a minimum of 18K gold in it's "solid gold" products.

 

With this being said, the only true investmest is one that has "Gold" in the equation somewhere.  All solid gold products you purchase from The House of Solid Gold have the potential to turn into extremely safe long term investments, as every solid gold product is made of "Gold".  

 

 

 

 

 

References

(a) Anikin, A. 1983. Gold . . . The Yellow Devil. New York, NY: International Publishers.

(b) Bernstein, Peter L. 2000. The Power of Gold: The History of An Obsession. New York, NY: John Wiley & Sons, Inc.

(c) Fetherling, Douglas. 1997. The Gold Crusades: A Social History of Gold Rushes, 1849-1929. Toronto, Canada: University of Toronto Press Incorporated.

(d) Green, Timothy. 1993. The World of Gold. London, UK: Rosendale Press Ltd.

 

^  abWorld Gold Council FAQ. www.gold.org

^ "Gold: causes of color". Retrieved 2009-06-06.

^ Martin Feldstein (2009-12-26). "Is Gold a Good Hedge?". Project Syndicate. Retrieved 2009-12-29.

^ " The healing power of precious metals". Retrieved 2009-06-06.

^ Bernstein, Peter L. (2004). The Power of Gold: The History of an Obsession. John Wiley & Sons. p. 1.

ISBN     978-0-471-43659-1

 

 



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