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Gold isn't worth $1.2K per ounce because of its "non-financial use", and has been valued throughout human history for its scarcity. I'm fairly certain kings wer
by cloakandswagger 9y ago
Gold isn't worth $1.2K per ounce because of its "non-financial use", and has been valued throughout human history for its scarcity. I'm fairly certain kings weren't making crowns from the stuff 500 years ago because of its conductive properties.
- lucozade 9y agoMostly they were using gold because it doesn't readily tarnish and it's relatively easy to work. Scarcity was necessary, for sure. But definitely not sufficient.
- kgwgk 9y agoBut it was, in large part at least, because of its malleability. There were even scarcer materials that have never been used to make crowns.