Gold is a chemical element with symbol and atomic number 79, making it one of the higher atomic number elements that occur naturally. in its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions. Gold often occurs in free element (native) form, as nuggets or grains, in rocks, in veins, and in alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum) and also naturally alloyed with copper and palladium. less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).
Gold also resistant to most acids, though it does dissolve in aqua regia, a mixture of nitric acid and hydrochloric acid, which forms a soluble tetrachloraurate anion. Gold is insoluble in nitric acid, which dissolves silver and base metals, a property that has long been used to refine gold and to confirm the presence of gold in metallic objects, giving rise to the term acid test. Gold also dissolves in alkaline solutions of cyanide, which are used in mining and electroplating. gold dissolves in mercury, forming amalgam alloys, but this is not a chemical reaction.
A relatively rare element, gold is a precious metal that has been used for coinage, jewelry, and other arts throughout recorded history. In the past, a gold standard was often implemented as a monetary policy, but gold coins ceased to be minted as a circulating currency in the 1930s, and the world gold standard was abondoned for a fiat' currency system after 1971.
TYPES OF GOLD
Unlike a car, television or a house, gold is not something that greatly varies in its purest form. Gold found in ancient ruins from thousands of years ago will technically (if we ignore the novel/antique aspect of it) have the same worth as a newly minted gold coin in present day IF they have identical weight and purity. So the different gold types discussed in the industry are simply variations of pure gold, meaning types of gold that have taken a different form due to being mixed with other metals, or taking different shapes, or simply represented in different forms. The purpose of this post it to remove any sort of confusion that might be present about what's gold, what isn't-and usually most critical, how much actual gold in inside 'it'.
a). GOLD ALLOYS - 9K, 10K, 12K, 14K, 18K, 22K, 24K Gold
b). GOLD BULLION - Gold Bars, Gold Bullion Coins
c). OTHER GOLD TYPES - Numismatic Gold Coins, Unrefined Gold, Gold Scrap.
WHAT IS GOLD BARS & GOLD BULLION COINS ?
i). GOLD BARS
When you see gold in movies or pop culture, you're likely to see it in the form of gold bars. They often take rectangular shapes, although gold bars can take a multitude of shapes as long as they're refined. Gold bars are classified into two sub-types: cast and minted. Gold bars which are cast and therefore thicker are generally called 'Gold Ingots' while gold that is stamped and hence thinner/flatter can carry the names 'Gold Biscuits or Gold Wafers'. Gold bars come in many different shapes and sizes and can generally be split into 55 categories. Only about 30 types of gold bars are in general circulation around the world with the Good Delivery gold bars being the most popular.
It's often mistaken that gold coins are expensive because they are usually antiques or precious collectors items-this isn't the case with gold bullion coins. This form of gold works exactly the same way as the metal bars, except their shape are in the form of coins and are usually much smaller in weight. Many different countries produce their own gold coins with national emblems embedded onto them but the most popular ones in the market today include Eagles, Maples, Kruggerands, Pandas, Prittannias, and Sovereigns.
ARTICLES YOU MUST READ !!!
@ Jackie San