{"id":29872,"date":"2024-03-13T22:22:41","date_gmt":"2024-03-14T05:22:41","guid":{"rendered":"https:\/\/www.advantagegold.com\/?p=540"},"modified":"2024-03-13T22:22:41","modified_gmt":"2024-03-14T05:22:41","slug":"30-things-didnt-know-gold","status":"publish","type":"post","link":"https:\/\/www.advantagegold.com\/blog\/30-things-didnt-know-gold\/","title":{"rendered":"30 Facts About Gold"},"content":{"rendered":"

Gold is a captivating material. For centuries, humans have used and treasured gold because of its value. While you may have considered buying gold jewelry, coins, or bullion<\/a> in the past, you may not have thought too much about gold\u2019s history, uses, or actual physical properties.\u00a0<\/span><\/p>\n

30 Gold Facts You May Not Have Known<\/h2>\n

If you\u2019ve never stopped to think about the gold you\u2019ve purchased for your precious metals IRA or as gifts for friends or family, you\u2019re missing out on some of the material\u2019s most intriguing facts. From details about its physical composition to its modern history and current use cases, we\u2019ve broken down 30 of our favorite facts about gold in the list below.\u00a0<\/span><\/p>\n

Gold Property Facts<\/h3>\n

Gold has many unique physical properties that make it useful for jewelry, electronics, and other types of manufacturing.\u00a0<\/span><\/p>\n

    \n
  1. Gold<\/span> melts at 1,063 degrees Centigrade and 1,945 degrees Fahrenheit<\/span><\/a><\/strong>. The metal can conduct both heat and electricity.\u00a0<\/span><\/li>\n
  2. A cubic foot of gold weighs 1,188.6 pounds (in<\/span> avoirdupois<\/span><\/a><\/strong>, or ordinary, weight).\u00a0<\/span><\/li>\n
  3. Gold almost never rusts and is not easily affected by chemicals. This is why gold can remain in the ground for thousands of years and still shine when coming out.\u00a0<\/span><\/li>\n
  4. Gold has a boiling point of<\/span> 2,966 degrees Celsius (5,371 degrees Fahrenheit<\/span>)<\/span><\/a><\/strong><\/span>.\u00a0<\/span><\/li>\n
  5. Gold\u2019s purity is measured in karats. Karats (not to be confused with <\/span>carats<\/span><\/i>, which is generally used in reference to the weight of gemstones) is a unit of purity for gold alloys. Containing no other metals, 24-karat gold is considered pure gold. But because pure gold is incredibly soft and malleable, it\u2019s often alloyed with other metals to increase strength and durability.\u00a0<\/span><\/li>\n
  6. Gold is chemically inert and, therefore, does not cause skin irritation to wearers of gold jewelry. If you wear gold and develop a rash or irritation, you can bet that jewelry is not composed of pure gold but rather a mix of gold and some other type of metal.\u00a0<\/span><\/li>\n
  7. An ounce of gold could be stretched into a thread that would be miles long.\u00a0<\/span><\/li>\n
  8. Gold is<\/span> generally considered nontoxic<\/span><\/span><\/a><\/strong>. In fact, gold flakes are sometimes found in food or drink. The greatest risk of gold toxicity occurs during mining and in conjunction with inhalation of other materials like mercury or arsenic.\u00a0<\/span><\/li>\n
  9. Highly pure gold is odorless and tasteless.\u00a0<\/span><\/li>\n
  10. Gold is very soft. In fact, gold is the most malleable element. Gold is so soft that one single ounce of gold could be flattened into a gold sheet covering 187 square feet.\u00a0<\/span><\/li>\n<\/ol>\n

    Gold History Facts<\/h3>\n

    Gold has been valued for thousands of years as a marker of wealth and as a trade material, but its recent history is worth mentioning, too:\u00a0<\/span><\/p>\n

      \n
    1. The term \u201ctroy ounce\u201d\u2014a unit of measurement used for gems and precious metals (including gold)\u2014comes from the<\/span> French town of Troyes<\/span><\/strong>.<\/span><\/a> In the 16th century, Troyes was an important trade center that standardized the troy ounce as the equivalent of 480 barley grains.\u00a0<\/span><\/li>\n
    2. In 1933, President Franklin Roosevelt signed<\/span> Executive Order 6102<\/span><\/a><\/strong>, which made it illegal to hoard gold. Roosevelt\u2019s purpose in signing the controversial order was to increase the amount of money in circulation and stabilize the United States economy during the Great Depression.\u00a0<\/span><\/li>\n
    3. In 1934\u2014immediately after signing the executive order\u2014Franklin Roosevelt raised the price of gold from $20.67 to $35 per ounce with the<\/span> Gold Reserve Act<\/strong><\/span><\/a><\/span>. Upon this price increase, the dollar\u2019s value fell by 40 percent.\u00a0<\/span><\/li>\n
    4. Gold\u2019s name comes from the Anglo-Saxon word \u201cgeolo,\u201d for yellow. Its atomic symbol (Au) comes from the Latin word for gold, \u201caurum.\u201d\u00a0<\/span><\/li>\n
    5. Most governments have replaced the gold standard with fiat currencies.\u00a0<\/span><\/li>\n
    6. The most expensive<\/span> gold coin<\/strong><\/span><\/a><\/span> ever transacted was a 1933 double eagle that<\/span> auctioned for $18.9 million<\/a><\/span><\/strong> in 2021. This coin\u2019s expense is largely due to the government\u2019s decision to make ownership and circulation of the coin illegal in 1934. Most of these coins were melted down shortly thereafter, but this one survived.\u00a0<\/span><\/li>\n
    7. May 2010 brought the world its<\/span> first gold vending machine in Abu Dhabi<\/a><\/span><\/strong>. The vending machine itself was also plated in gold. However, this device has been permanently closed.\u00a0<\/span><\/li>\n<\/ol>\n

      Gold Availability Facts<\/h3>\n

      Gold\u2019s rarity is what makes it highly coveted among nations, collectors, and industrialists. We\u2019ve compiled some of the most notable facts about<\/span> its availability<\/a><\/span><\/strong> below:\u00a0<\/span><\/p>\n

        \n
      1. Gold is so rare that the world pours more steel in a single hour than all the gold ever poured during recorded history.\u00a0<\/span><\/li>\n
      2. Two-thirds of the gold<\/span><\/a><\/strong> in circulation has been extracted since 1950.\u00a0<\/span><\/li>\n
      3. The world\u2019s largest stockpile of gold<\/strong><\/span><\/span><\/a> is located beneath the Federal Reserve Bank of New York. As of 2024, the bank\u2019s vault held more than<\/span> 500,000 gold bars<\/a><\/span><\/strong>.\u00a0<\/span><\/li>\n
      4. About half of the gold belonging to the government of the United States is held in<\/span> Fort Knox<\/span><\/a><\/span> and is valued by the government at $42.22 per ounce.\u00a0<\/span><\/li>\n
      5. Gold has been found on all seven continents.\u00a0<\/span><\/li>\n
      6. As of January 2023, the United States has over 8,100 metric tons of gold in reserves.\u00a0<\/span><\/li>\n<\/ol>\n

        Gold Use Facts<\/h3>\n

        Gold has many ornamental and trade usage throughout history and continues to be highly valued for its versatility.\u00a0\u00a0<\/span><\/p>\n

          \n
        1. Besides its monetary and symbolic value, gold is also used in industries such as medicine, electronics, radiation protection, dentistry, and glass coloring.\u00a0<\/span><\/li>\n
        2. Gold may be used to treat rheumatoid arthritis<\/strong><\/span><\/span><\/a>. It can relieve the pain of active joint swelling and prevent future damage. In most cases, gold is either injected into muscle or taken in capsule form by mouth.\u00a0<\/span><\/li>\n
        3. Astronauts\u2019 visors are covered in<\/span> a micro layer of gold<\/strong><\/span><\/span><\/a> to reduce glare and heat from the sun.\u00a0<\/span><\/li>\n<\/ol>\n

          Gold Investment Facts<\/h3>\n
            \n
          1. From January 2000 through January 2021, gold generated an annualized return of<\/span> 9.6%<\/span><\/strong>.<\/span><\/a> Between 1990 and 2020,<\/span> its price increased by around 360%<\/span><\/span><\/strong>.<\/span><\/a>\u00a0<\/span><\/li>\n
          2. Gold is a traditional hedge against inflation and rising living costs.\u00a0<\/span><\/li>\n
          3. Investing in physical gold provides tangible ownership, as opposed to exchange-traded funds (ETFs), which do not.\u00a0<\/span><\/li>\n
          4. Gold IRAs<\/strong><\/span><\/span><\/span><\/a> are a fantastic tool for retirement that provides an additional layer of investment diversification.\u00a0<\/span><\/li>\n<\/ol>\n

            Interested in Learning More About Investing in Gold?<\/h2>\n

            Gold isn\u2019t a magical metal, but it\u2019s a valuable one. More importantly, it\u2019s one that\u2019s been treasured for thousands of years. That\u2019s why investing in gold is such a fantastic opportunity to grow your personal wealth.\u00a0\u00a0<\/span><\/p>\n

            To learn more about how Advantage Gold can help you hedge against inflation and diversify your portfolio,<\/span> contact us today<\/strong><\/span><\/a><\/span> and download your free Gold IRA guide.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

            Gold is a captivating material. For centuries, humans have used and treasured gold because of its value. While you may have considered buying gold jewelry, coins, or bullion in the past, you may not have thought too much about gold\u2019s history, uses, or actual physical properties.\u00a0 30 Gold Facts You May Not Have Known If […]<\/p>\n","protected":false},"author":15,"featured_media":30353,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[47],"tags":[1212,34,68,35,36,38,39,40,41,43,44,45,46,86,49,53,55,1373,1152,61,1374,63,64,1375,65,66],"class_list":["post-29872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-archive","tag-401k-rollover","tag-add-gold-to-my-ira","tag-advantage-gold","tag-best-gold","tag-best-gold-companies","tag-best-gold-ira","tag-best-way-to-buy-gold","tag-best-way-to-invest-in-gold","tag-bullion-for-retirement","tag-buying-gold-bullion","tag-conver-401k-to-gold-gold-401k","tag-covert-ira-to-gold","tag-current-gold-price","tag-gold-2","tag-gold-backed-ira","tag-gold-investment-company","tag-gold-ira-custodians","tag-how-to-buy-gold","tag-investing-in-gold","tag-ira-companies","tag-learn-about-gold","tag-price-of-gold-take","tag-protect","tag-reasons-to-buy-gold","tag-retire","tag-safe"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/posts\/29872"}],"collection":[{"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/comments?post=29872"}],"version-history":[{"count":0,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/posts\/29872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/media\/30353"}],"wp:attachment":[{"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/media?parent=29872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/categories?post=29872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/tags?post=29872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}