Posts Tagged: ‘gold’
Does the material used to make a coin have any bearing on its value?
by Marshall Brain | September 22, 2010
You Asked:
Does the material used to make a coin have any bearing on its value? — Leong, Ipoh, Malaysia
Marshall Brain Answers…
In America, many (perhaps the majority of) Americans tend to spend their money on “stuff”. This is why the savings rate in America is now negative. 40 years ago it was an average of 11% (think about that – the average American used to put 11% of income in the bank). Today we save nothing, [...]
Inventor’s 2020 vision: to help 1bn of the world’s poorest see better – “What if it were possible, he thought, to make a pair of glasses which, instead of requiring an optician, could be “tuned” by the wearer to correct his or her own vision? Might it be possible to bring affordable spectacles to millions [...]
Public Service Announcement – be on the lookout for fake/counterfeit gold
by Marshall Brain | November 13, 2009
Many people are buying gold right now. They buy it for a lot of reasons – there is a perception that it is a good investment in times of high inflation, the price of gold is at a high right now, the price of gold has been rising, apocalypse-fearing-folk think they will be able to [...]
No Dirty Gold: Precious Metal with a Glittering Past
by Sarah Dowdey | August 5, 2009
How ironic is it that gold and diamonds — substances valued for their purity or clarity — can turn out to be so messy? By now, most folks have heard of “blood diamonds” (if not from newspaper headlines then from the 2006 movie), as well as the Kimberly Process that protects consumers from unwittingly supporting conflict diamonds.
“No Dirty Gold,” a campaign based in Washington, D.C., is trying to achieve an ethical standard similar to the Kimberly Process. While gold isn’t so closely associated with violence and conflict as diamonds are, there’s not much that’s pretty about mining the precious metal.
According to the Economist, most gold is procured through open-pit mining (gone are the days when ’49ers panned riverbeds for sizable nuggets). One ounce of gold requires at least 60 tons of rock be removed; plus, there’s the addition of cyanide and mercury used to separate the metal.
Carats are used for diamonds, while karats are used for gold. Learn more about the difference between carats and karats in this HowStuffWorks podcast.
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