Why Has Gold Always Been Valuable?
The world has always seen gold as a valuable metal. In ancient times, kings, priests, pharaohs, pirates, and even merchants were always searching for gold or ways to increase their wealth. The ancient rulers fought wars, killed thousands, colonized entire continents, and heavily taxed their people just for their next gold score.
Even though some minerals and metals are more valuable than gold, their appeal, versatility, and prestige amongst the masses still stay strong. Platinum is rarer; however, it looks like silver to the untrained eye. Therefore, it’s not as popular as its former rival. Gold’s captivating and mesmerizing yellow glow has caused too many wars, trade blockades, and betrayals. Since the early times, gold has seduced humanity with its power. So what is it that makes gold oh-so-valuable and powerful?
Form of Payment
Countries and continents have fought wars and built and destroyed empires over gold. When there was no paper money or crypto-currency, gold was accepted as a satisfactory form of payment. This metal has a power that surpasses every other exchange commodity since people learned to barter, and this power has continued to grow and evolve with time.
The money system of the USA was based on the gold standard until the late 1970s. The people who favored this system said that the system was safer and better than any other system, as here, the expansion of the line of credit was linked to the physical supply of gold. Now in the present times, it’s not that hard to understand this line of thinking, especially after the financial meltdown experienced in 2008. Let’s look at it from a fundamental point of view. Gold is seen as a good store of value against the declining currency.
Gold is Money
Gold does not vanish into thin air. Once it’s mined, it becomes permanent. It neither burst into flames nor does it poison its owner. It’s rare enough and cannot be overproduced. Civilizations have used this metal as a benchmark to measure value throughout history.
Gold in the Modern Times
Today no one follows the gold standard nor uses gold as a currency. In this age and time, gold is seen as an excellent investment opportunity for people who want to build a retirement nest egg or diversify their investment portfolio. One such way they can do this is through a gold individual retirement account or a gold IRA. A gold IRA lets you buy your gold bullion bars, and you can even go for a regular IRA. Here, you cannot own gold but can invest in it together with investments in real estate, oil, gas, and private properties.
Want to Know More about GOLD?
If you’re interested in knowing more about gold and its history and opening a gold and silver IRA account or buying gold bullion bars, get in touch with Orion Metal Exchange – one of the top gold IRA companies in the USA. Our financial advisors would be happy to assist you in making a sound investment decision.