This isn't like fiat currency where it's based on "our faith" like they taught us in school. It's expensive as it is because of a) some decadent people's actual

This isn't like fiat currency where it's based on "our faith" like they taught us in school. It's expensive as it is because of a) some decadent people's actual demand for it b) other people's expectation for said decadent people's demand for it. Usefulness as a currency I suppose can raise the price, but only because there is an expectation of actual utility in the hands of a final consumer, somehow or other. Really, I think gold is interesting because it's rare and thus coveted. edit - no offense if you enjoy gold, I was just making sweeping generalizations for expediency