Gold

We all know the value of gold. I mean, who doesn't know that gold is valuable?

Why is gold valuable? Well, gold is easy to work with, it is shiny, and is thus good (maybe even perfect) for making accessories. The value of gold was recognised in the ancient world, and besides being used to make jewellery, gold was used as a form of money, to facilitate the exchange of goods without having to conduct barter trade. Currency facilitated trade, and gold was a natural choice as it had its own value as both a good and a form of currency.

With the move to paper money, does gold lose its value? The obvious answer is no. Gold still continues to hold its value, although its use as a form of currency for exchange is now non-existent. However, gold has found other uses. Science has found other uses for gold, other than for making jewellery. Its physical and chemical properties allows it to be put to various uses. For example, the canopy (the piece that covers the cockpit) of the F-16 fighter aircraft is tinted with gold. So are the visors of spacesuits worn by astronauts, and visors of the helmets of fighter pilots. And the IT revolution has seen a new use for gold as well. Being a good conductor of electricity, gold is used in some parts of electronic circuits in place of copper.

Trivia: In the Dungeons and Dragons Dragonlance campaign setting, after the Cataclysm, gold lost its value to steel. Steel overtook gold in value because steel could be used to make weapons and armour, which was the commodity in demand in a chaotic world, compared to the jewellery that is made from gold.