Precious Metal and Gold Essay

Submitted By chickdancer123456789
Words: 420
Pages: 2

Q1. Gold is very important in many societies around especially around the world. In some societies gold is used as a source of money. Gold is very valuable to most countries, along with the fact that gold is also slightly rare. Most countries use gold as a source of money because gold is easy to standardize in every country. A hundred percent of gold is profitable so it with holds the same value around the world. Along with being standardized, gold is a metal that is malleable, which means that the metal can be melted into coins, shotgun shells or even into jewelry. Must of the time gold is changed into coins because it doesn’t rust unlike other metals such as silver and copper. Gold is also a metal that is hard to fake. To fake the shine and quality of gold would be difficult for most people to do. Gold is desired because it is desirable. These are just some of the reasons why many societies around the world choose gold as money.
Q2. Gold and Silver paper certificated circulate between people. The paper certificates where used in exchange for trading goods. These certificated came into circulation do to gold people would bring to a trusted gold smith in the town. The way the certificates would circulate, for example, you have five pounds of gold, and you wanted to put it somewhere safe that wasn't your own house. You'd bring your gold to the trusted gold smith. The gold smith would take the gold (also require some sort of profit for keeping your gold) and give you back a gold certificate saying how much gold was…