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Chart of the Day: Why Gold is Money

Crews Bank & Trust Wealth Management Services Aug 13, 2024
A purple and white periodic table that uses the process of elimination to explain why gold is money and not the other elements

Contents

Today’s Chart of the Day is a classic from Visual Capitalist outlining why “Gold is Money” and the other 117 elements are not.

Simply put, many elements are in gas and liquid form. Some are poisonous, decay, or are radioactive. Some would burst into flames in our atmosphere or are unstable at room temperature.

That leaves 30 that are solid, such as nickel or copper, but many are found on Earth in abundance. Some are so rare they can only be created in a laboratory, and one, Osmium, only exists in the Earth's crust from meteorites. That leaves five: platinum, palladium, rhodium, silver, and gold. Silver tarnishes, rhodium, and palladium are new, and platinum has an unreasonably high melting point.

Which leaves us with gold. Gold melts at a reasonable temperature, is malleable to form into coins and bars, does not dissipate or burst into flames, isn't poisonous, has been easily mined through history, has a distinct color which differentiates it from other elements, and finally, is rare enough so is not overproduced.
Chart of the Day

About the Author

Crews Bank & Trust Wealth Management Services
Crews Bank & Trust Wealth Management Services

Experienced professionals from our wealth management services team can help you achieve a bright financial future through investment strategies tailored to you. We’ll show you all of the options available and help you choose the ones best suited to you. We’ll provide high-quality, personal service as we work toward your goals together. Our Portfolio Managers do not receive commissions on trades; our recommendations of investments are based solely on your best interests.

Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.

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