The Precious Metal Gold
"We have gold because we cannot trust Governments." President Herbert Hoover
The symbol of kings and the treasure of nations, desired by all but possessed by few, gold has been cherished for all of recorded history. In the 5th century B.C., Aristotle pondered the question of the perfect medium for money. He concluded that gold is perfect money for 5 reasons:
Gold won’t rot, break, crumble, decay, corrode or tarnish. Gold is unaffected by air, water, and even most acids.
Convenience and portability
A lifetime of wealth will fit in your pocket.
Gold can easily be divided into smaller amounts. An ounce of gold can be split 100 or even 1000 times.
One ounce of pure gold is exactly the same as any other ounce, enabling worldwide trade and liquidity of gold – unlike unique items of jewelry or artwork.
Gold has a staggering variety of uses, even more today than in Aristotle’s time. Its unique properties keep the demand high and the relative scarcity of the metal insures continued value.
Gold is still perfect money, perhaps more perfect money than money. Gold remains the time-honored standard of wealth that no other currency can match.