Gold has always been used as money throughout the history of time. From gold coins, bars, and other fixed units, gold has been used since their first known coins were struck around 600 BC in Asia Minor. Ever since then, gold has been highly valued and used as a trade item. Eventually, the gold standard was implemented in the US, where the standard dollar was based on a fixed amount of gold. After a while, however, most nations abandoned the gold standard because it didn’t work as well as they would have liked. Though a lot of countries still hold a lot of gold in their reserves, it isn’t used as much as it was. And though gold used to be sought after and mined, there’s now enough gold in circulation where there isn’t as much a need for mining. Though gold is still extremely valued, gold is used for only a few things nowadays. Here’s where gold is used in the modern world and where it is still valued today!
Gold is used in investments today because it holds against inflation or other economic disruptions. Many people purchase stores in gold to ensure that if the market crashes, they will still have their money’s worth in gold.
Gold is also used in electronics because it is non-corrosive and has good connectivity. Generally, this means it’s used in electrical connectors (like audio, video, and USB cables) and in cell phones. Though there are only little bits of gold used in cell phones, with how many cellphones are created these days, there’s a lot of gold that goes into all the cell phones in the world!
Over 50% of the world’s new gold is invested in jewelry—which means there’s a lot of good gold jewelry in the world. From necklaces to engagement rings, gold is one of the most coveted metals in jewelry and pays for itself in the long run. If you are one of the Atlanta gold buyers, look no further than Elan Diamond Group. We will pay the best price for your gold jewelry and if you are looking for a trade in, we have lots of beautiful jewelry to choose from. Call or come by today!