The Value of Gold | Stewart Kuper Jewelers

The Value of Gold

September 4, 2015
Stewart Kuper

Shiny, brilliant, heavy, and immensely valuable. Gold (AU), atomic number 79, composed of equal parts 79 proton and electrons, balanced by 118 neutrons. This unique metal has power all over the world, and because of that, anywhere you go, it will be worth money.
Gold has been used as currency by innumerable cultures around the world throughout the course of history. The Ancient Egyptians, Indians, Mayans, Chinese, Greeks, and Romans were all notorious for their pursuit of gold. They appreciated its value and used it for decoration and jewelry. The first golden coins started appear in 700 B.C. and were manufactured by Lydian merchants. Gold coins saw consistent use from that day forward. Towards the end of the 19th century many European countries decided to implement gold standards for their currency. The United States itself adhered to the gold standard until 1933, when President Franklin Delano Roosevelt decided it was time to move on.
Modern Value
Although America no longer adheres to the gold standard, gold still maintains immense value around the world. The standard benchmark for gold value is established by the London Gold Fix. Twice a day, a telephone meeting occurs between five highly influential trading firms and a current value is established. This price still fluctuates throughout the day. Prospective buyers and sellers can use intra-day spot prices if they would like a more current assessment of value.
Gold Bars
Gold bars are one of the most iconic images in the world. A standard gold bar should weigh in at approximately 400 troy announces, or almost 12 kilograms! Today, that gold bar would be worth approximately $440,100! Because of the extreme worth of gold bars, there is high interest in counterfeiting them. Gold bars should always come with a certificate of authenticity. Some bars even come with unique holographic identification technology!