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Gold has value because it's shiny, doesn't oxidize, is malleable enough to easily form conspicuous jewelry, is much rarer than base mining elements, and is not
by dmoy 9y ago
Gold has value because it's shiny, doesn't oxidize, is malleable enough to easily form conspicuous jewelry, is much rarer than base mining elements, and is not cheap to extract.
The not oxidizing and rarity are key. E.g. platinum is also not cheap.
Aluminium is close but it's orders of magnitude more common, and still oxidizes a little.
- hndamien 9y agoValue as a currency.
- dcarmo 9y agoBecause it's rare.
- dmoy 9y agoSure it's the rarity, but also the lack of corrosion. If your coins maintain the same weight for 100 years that's good, because the value can be measured by weight more reliably. Contrast that with iron that degrades, or copper that actually increases in weight as it goes bad... now how do you weigh out a coin?