50 Surprising Facts You Never Knew About Gold

Investing Answers
Jun. 21, 2010

1. The word "gold" comes from the Old English word "geolu," meaning yellow.

2. There is more steel created per hour than there has been gold dug up throughout history.

3. Around 161,000 tons of gold have been mined by humans.

4. Gold can be found beneath the earth on all seven continents.

5. It is believed that around 80% of earth's gold is still buried underground.

6. There is an estimated total of 10 billion tons of gold in the world's oceans. That is 25 tons of gold for every cubic mile of seawater.

7. The world’s first gold vending machine was unveiled in May 2010. Located in an ultra-luxury hotel in Abu Dhabi, the vending machine itself is covered in 24-carat gold.

8. At the time of writing, the price of gold was $1,220.80 per ounce.

9. Most western economies' currencies were on the gold standard until 1961.

10. Switzerland was the last country whose currency was tied to gold. 40% of a Swiss Franc was backed by gold until Switzerland joined the IMF in 1999.

11. The gold held at Fort Knox is accounted for by the United States as an asset valued at $44.22 per ounce.

12. As of December 31, 1941 Fort Knox held 649.6 million ounces of gold.

13. Today, Fort Knox holds about 147.3 million ounces.

14. The size of a standard gold bar is 7" by 3 and 5/8" by 1 and 3/4"

15. Alchemists believe they can change ordinary materials, such as lead, into gold.

16. A carat was originally a unit of mass based on the carob seed used by ancient merchants.

17. The most expensive gold coin in the world is the 1933 Double Eagle, which was sold at Sotheby's in New York in 2002 for $7.59 million.

18. Elvis Presley owned three cars manufactured by Stutz Motor Company, in which every part that is normally chrome was converted to gold.

19. Former Tyco International CEO Dennis Kozlowski bought a gold-threaded shower curtain worth $6,000.

20. A noble metal, gold is prone neither to rust nor tarnish and does not form an oxide film on its surface when coming into contact with air.

21. There are 92 naturally occurring elements found in the earth's crust. Gold ranks 58th in rarity.

22. The chemical symbol for gold is Au, which is derived from the Latin word "aurum," which means "shining dawn."

23. Absolutely pure gold is so soft that it can be molded with the hands.

24. The melting point of gold is 2,063 degrees Fahrenheit.

25. Gold is a great conductor of electricity.

26. Gold is the most malleable and ductile pure metal known to man.

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June 21, 2010

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