In modern society, gold is an important aspect of culture, society and of course, the economy. We use it for a range of prized items such as jewellery, Olympic medals and money – with jewellery being the highest in popularity. There are many uses of gold in modern society, which has turned the material from a practical source to a symbolic one, with of course, remaining its value. These special qualities of gold makes the material a key hedge against inflation, which will always survive economic downturns.

Historical uses of gold

For centuries, it is known that gold has been apart of the economy and society. First used as a method of currency, then used as a symbolic symbol for the upper classes. According to the World Gold Council, the first to use gold as a currency was that of King Croesus of Lydia in 546 BC. He was renowned for his great wealth and among the Greeks. The practice of minting coins during this era spread to the Persians and then across the whole world.

Gold in today’s society

Gold can be used in many different ways in the current economic and social environment. Throughout history, the value of gold has never decreased and has always kept the same importance and status in society. Nowadays, it is used more for symbolic reasons such as jewellery, currency reserves, medals and currency.

Gold jewellery has been the dominant use of gold for decades, as the metal can be easy to work with and does not tarnish. Alloys of gold feature predominantly in modern jewellery for many reasons, which adds reason to why the metal can come in a range of different colours. These can include rose gold and of course, white gold. White gold consists of gold and non-precious metal, which gives a naturally lighter appearance which remains platinum. Rose gold is known as an alloy of copper and gold, which gives it a more attractive pink or light red colour.

Another use for gold nowadays is the gold medal. These are synonymous with the highest level of achievement, especially in events such as the Olympics, the Commonwealth Games, etc. In modern society, there is no better way to recognise achievements or milestones in any event or sport than having a gold medal or award, which is why it is so widely recognised and important.

Finally, another use of gold can be of course, investment into gold. Many nations around the world still use mint gold coins due to their artistic value and symbolism. Golden coins can be bought by collectors for a high price. Alongside this, the investment into gold has a significant input on the modern economy. Investors may buy physical gold coins and bars. Unlike stocks and online funds, investing in physical gold has many advantages.

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For any more information on how you can sell your gold to us, or any information on our services please take a look around our website today. Alternatively, you can pop into our physical store and we can provide you with information straight away.