I was looking back at some of the things I've written over the years and I came across this blog post on Gold. It's a little dense with the chemistry, but I like the story I'm telling. Basically I talk about how everyone knows Gold is valuable but why is it valuable? Scarcity? Well lots of things are scarce. Luster? Malleability? Plenty of things are shiny and can be hammered thin. The fact that it's nonreactive? Noble gases are more so. In the end I conclude it's all of those things. Then I go on to describe how all of those things come from its chemistry as a heavy noble metal.
Gold is scarce because it is nonreactive and doesn't readily bind with lighter materials. Thus when the Earth was forming it tended to sink toward the Earth's core. Its luster and malleability (as well as that of Silver and Copper) has to do with its loose valence electrons due to the electron screening process I describe. It is nonreactive because of the weirdness of how electron orbital shells fill when you start getting d and f orbitals.
Anyway, while rereading the blog post I thought it was a neat subject and I thought I'd pass it along. I remember my motivation for writing the blog was I kept hearing people on the financial networks say that Gold is just a rock and has no innate value and thinking "I get what they're trying to say, but I don't think it's as simple as that" and it got me thinking...Where does the value of Gold come from?
"Almost" Good Answers: