answersLogoWhite

0

Fool's gold isn't actually gold at all. It's actually a mineral called pyrite.

User Avatar

Wiki User

12y ago

What else can I help you with?

Continue Learning about Economics

What are disadvantages of gold?

You might not be sure if it is fools gold.


What is the meaning of the word ''cheap''?

Inexpensive and of poor quality. Although things designed to be inexpensive are inevitably of poor quality, so it goes without saying that if an item is always available at a low price (e.g. at Walmart) it is of poor quality.


Will fools gold pan out with real gold?

Fool's gold, or pyrite, often resembles real gold but lacks its value and properties. While it can sometimes be found in the same locations as real gold, it will not yield any financial return when mined. Therefore, fool's gold will not "pan out" as real gold, and it's important for prospectors to differentiate between the two to avoid disappointment.


Is fools gold worth money?

It depends. Pyrite (or "fool's gold) is a mineral that can contain 0.25 percent or more of gold. If a pyrite sample contains this amount, and assuming the price of gold is $1500 per troy ounce, then one ton of pyrite would be worth a little over $100,000.


Is the gold price higher than diamonds?

Your answer depends on the purity of the gold and the quality of the diamond. When comparing one gram of 24 karat gold -- the purest gold -- compared with one gram -- five carats -- of the highest quality diamond, the diamond price would be higher. For example, today, based on gold at US$1,054.20/gram = $33.89@gram, and based on the highest quality, five-carat diamond at US$404,055, the price of the diamond is far higher than the price of gold. Conversely, a lower-karat gold gram, or a lower-quality diamond could alter the disparity. This is because about 80% of all diamonds mined are industrial diamonds, not gem quality. You can purchase a bag of industrial diamonds for about the price of a latte.