The Invaluable History of Gold Throughout Human Civilization
Gold has never in human history lost its value, a fact that stands in stark contrast to silver, which was once considered to be of little worth in comparison. Throughout millennia, gold has maintained its status as a precious metal deeply intertwined with human society, economy, and culture.
The Ratio of Value Between Gold and Silver Through History
For most of human history, the value of gold was significantly higher than that of silver, with gold usually being 10 to 15 times more valuable. However, this ratio began to change in the 19th century as the value of silver and gold shifted dramatically. By the early 20th century, the value of silver to gold could be as high as 100:1, though today, the ratio has stabilized at approximately 80:1. This variability demonstrates the complex and dynamic nature of precious metals in human history.
It is worth noting that even today, silver is about as rare on the planet as gold, yet it holds far less value. This is exemplified by the legal tender coins produced by Canada and the United States, where a 1oz Silver Maple Leaf coin and a 1oz Gold Maple Leaf coin are valued at 5 and 50 respectively. Similarly, the American Silver Eagle 1oz coin carries only $1 in legal tender value, compared to a 50:1 ratio for the American Gold Eagle 1oz coin.
Gold's resilience as a Material and a Precious Metal
Gold’s intrinsic value is not just a matter of social and economic factors; it is also a testament to the physical properties of the metal. Gold is a "noble metal" that is soft and easily fashioned, does not need to be chemically separated from base materials, and does not rust. These properties have made it an excellent material for jewelry and other decorative objects, and it is often referred to as having an "eternal life." This durability and non-reactivity contribute to its timeless value and enduring appeal.
The Diamond and the Historical Significance of Gold
The absence of diamonds in ancient texts can be attributed to the fact that no one knew how to cut and polish them until much later. In contrast, gold’s striking beauty and malleability made it an instant hit with ancient civilizations. For instance, in Europe and the East, gold was highly prized, while in regions where nomadic lifestyles were common, like Native American territories, gold held little value due to the practical challenges it posed to these mobile societies.
Gold in Human Society and Civilizations
The value of any material is fundamentally linked to human society's perception and need. Until gold entered human societies, it held no intrinsic value, as it did not have any practical or decorative uses. However, once gold was discovered and incorporated into human culture, its value became inextricably linked to human society, religion, and commerce. Gold’s worth is often described by saying that it has "always been worth its weight in salt," a phrase that underlines its consistent value through the ages.
Finalizing the discussion, there has never been a recorded instance of gold being valueless. Every historical period and society has recognized and valued gold for its unique properties and the significant role it plays in human history. Whether as a medium of exchange, a symbol of wealth and power, or a material prized for its beauty and durability, gold remains a constant in our civilization's journey.
This invaluable history and the perpetual value of gold echo through the ages, making it a truly unique and unbreakable element in human civilization.