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Why Is Gold Valuable?

Posted on June 17th, 2016 by JoeG

Fed Chairman Ben Bernanke responded to the question of why central banks hold gold by simply stating, “tradition”. Gold does not produce earnings or dividends, many banks and investors do hold it for among other reasons traditions. However, a single ounce of gold the size of a pad/pat of butter, can sell for over $1,200 today. What it makes it so valuable?


Chemical Properties

Almost anything can be used as money, though some things typically sell better than others. It is hard to transact an exchange of value with items that people do not want and that stores do not value. Over thousands of years, gold has become the best form of money. For centuries Mankind has chosen gold over other assets because it can not be destroyed by water, time, and fire. Gold does not need feeding or fertilizer like animals and plants. Gold is uniquely malleable, ductile, beautiful and rare. Gold has the ideal chemical properties to serve as money and a good store of value.


Timeless Appeal

Gold is arguably the most attractive of the 118 elements in the periodic table. Gold has been a successful form of money because it captivates.


Counterparty Risk

Gold is the only asset that is not simultaneously someone else’s liability. Gold does not require backing of any bank. Gold will not suffer a default or its value to fall to zero. When there is no counter-party risk that means that once you have the gold in your possession, you do not have to depend on someone else to fulfill a contract or keep a promise of its value.


Financial Advantages

Gold has very specific characteristics that make it highly valuable. Gold has no time limit, counter-party risk, or shelf life. Gold is liquid, portable, durable, consistent, convenient, and value dense. Gold can not be printed, hard to counterfeit (but sometimes happens), or inflated.


Do you have gold you are interested in selling? The Chicago Gold Gallery is where you should go to sell your unwanted gold, jewelry & coins for cash. We take pride in offering the best possible price for your jewelry, old gold, diamonds, watches and collectibles. It does not matter what type karat gold you have,our expert buyers in Chicago will carefully assess, inspect and evaluate all of your items individually to insure you are getting the best prices for your gold!


Gold Rolex



Source: Hard Assets Alliance

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Customer Testimonial

Had a Great Experience

"I drove all the way from the south side just to sell my silver to Chicago Gold Gallery because of the knowledge and professionalism I received on the phone. They gave me top dollar for my silver and were so fast and friendly. I definitely recommend this business!"

Date: 10/27/2017 • 5 / 5 stars ★★★★★

Can't say enough about this place.

This is the most welcoming, non-pretentious place to do business! I was researching where to sell sterling silver I had and ended up choosing here based on the other great reviews. They walked me through the whole process and answered my questions. I got a great price for my items & will go there again.

Date: 09/17/2018 • 5 / 5 stars ★★★★★

Love this place!

Chrissy & Joe are all super friendly and easy to work with. I trust them and they will do whatever they can to help you including giving you advice on what you have or what you should look for. I won't ever go anywhere else and I've recommended it to several friends.

Date: 08/02/2015 • 5 / 5 stars ★★★★★

I would do business with them again

I had a large collection of silver coins sitting in my safe deposit box for 15+ years. Chrissy was so friendly and helpful she even gave me advice about coins I didn't know. She was more than happy to help me for over an hour in between taking care of other customers. They really did give me top dollar for my coins. Whether you are new or a pro with coins, I can highly recommend you take them here!

Date: 02/22/2020 • 5 / 5 stars ★★★★★

Don't Hesitate to call...

I find that Joe at Chicago Gold Gallery consistently offers and pays more for my coins than coin dealers in Chicagoland. He's very nice and easy to deal with. Don't hesitate to call him and preferably visit him.

Date: 12/04/2015 • 5 / 5 stars ★★★★★

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