Asked in Gold and Precious Metals
Why is gold more valuable than copper and silver?
December 03, 2009 11:55PM
Well gold is very rare to find in many places. Gold is also very difficult to counterfeit.Gold is fungible & exchangeable because every bit of .999 fine gold is similar enough to be like another. Gold does not rust as it's imperishable. These properties make gold a good store of value, a medium of exchange, and a unit of account. Therefore, gold is easily trad able with a narrow spread, meaning it has a small price between the bid and ask the prices to buy and sell. Gold is therefore the ultimate liquid asset, a luxury, and is why gold is money. Silver is harder than gold but softer than copper.