Pharaoh’s Gold—You May Own Some, Because Gold is the Ultimate Recycled Material
January 9th, 2009 by James L. Sweaney, CGA, FGA. GGOne of my favorite conversational riffs with customers is to tell them that the gold ring/pendant/bracelet/chain/tie-tac/cuff link/object that they are wearing is likely to contain a few molecules of the Pharaoh’s gold, or of the treasure of the Incas, or of Blackbeard’s loot, or even of the Ark of the Covenant, etc. Because of the nature of gold and the esteem that mankind has for this beautiful yellow metal, we always recycle gold.
Gold is very chemically stable and is thus very durable. Objects of gold that have been buried in the ground or laid at the bottom of the sea for centuries still display their beautiful sunny luster with almost no degradation when recovered, while other metals under the same conditions have corroded and dissolved away. Nothing in nature does much to dull that magical gleam.
Perhaps in recognition of this eternal virtue, humans through the ages have treasured the unique richness of gold. Almost all cultures on our planet attribute great value to gold in some way. So gold is never thrown away or discarded, never tossed in the trash, and rarely given away.
When a gold object has ended its useful life through wear or fashion or taste, or its owner must raise cash, it is always resold or recycled. We have an old saying in the jewelry trade – “ If you want something to last, don’t make it in gold”.
Realize that in the entire history of the world, analysts estimate that about 162,500 metric tons of gold have been mined. And most of this is still coined, stored, or worn in some fashion. Incidentally, gold is so dense that a metric ton of it will fit in a solid cube less than 15 inches square. Thus all the gold ever mined anywhere would fit in a cube less than 67 feet per side!
So when I say, “You probably own some of Pharaoh’s gold”, look at the ring on your or your spouse’s finger or the bracelet on your wrist and think about the history and value represented in that piece of jewelry.
At Mardon, we take our ownership of gold seriously – most of the gold items we make come from gold we recycle. We purchase gold for recycling whenever the opportunity arises and we support the firms who practice responsible mining and recycling practices.
Please call us at (951) 682-2325 or email me at jim@mardonjewelers.com – we’ll be happy to tell you about our gold buying and recycling program.
