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Yep. That's what I meant by the valuable properties.
by mathgeek 12y ago
Yep. That's what I meant by the valuable properties.
- jrockway 12y agoTheoretically this is why it has value for hoarders; it's useful. Of course, if suddenly gold was unfashionable and was only needed for plating connectors, I doubt you'd get $1200 an ounce. But it will probably stay fashionable because people like the color. (As someone who regularly uses public transportation, I personally won't be getting a gold watch. But I see the appeal.)
- baddox 12y agoWhy is the willingness of people to pay a lot of money for something because they like its texture or color and more "extrinsic value" than the willingness of people to pay a lot of money for something because they like its corrosion resistance?
- function_seven 12y agoI would say it's not. But I bet you if you came up with a replacement alloy that had the same exact texture and color as gold, people would not knowingly pay the same money for it. Just like lab diamonds can be grown to look even better than mined diamonds, the fact that they're from a lab still (sadly) diminishes their value.
- mathgeek 12y agoYou read into my comment as a statement of mutual exclusiveness, perhaps?