Gold FAQ
Short, straight answers to the most common questions about gold, from where it comes from and why it does not rust to karats, troy ounces, fakes and how the price works.
Gold basics
What is gold? Gold is a chemical element with the symbol Au and atomic number 79. It is a dense, soft, yellow metal that resists corrosion. See what is gold.
Where did gold come from? Scientists believe gold was made in violent cosmic events, such as collisions of neutron stars, and was part of the dust and gas that formed our solar system. See where gold comes from.
Why does gold not rust? Gold is chemically unreactive. It does not react with oxygen or water under normal conditions, so it does not tarnish or corrode. See why gold does not rust.
How much gold has ever been mined? Estimates are around 200,000 tonnes or more, and most of it still exists. See how much gold exists.
Purity and measurement
What does 14K mean? It means 14 parts out of 24 are pure gold, about 58.3 percent. See karats explained.
What is 999.9 gold? Gold that is 99.99 percent pure, often called "four nines." See fineness and purity marks.
What is a troy ounce? The standard unit for precious metals, equal to 31.1035 grams, heavier than a regular ounce. See spot price and the troy ounce.
Is white gold real gold? Yes. It is gold alloyed with white metals and often plated with rhodium. See gold colors and alloys.
Buying and selling
Why does a coin cost more than its gold value? Coins carry a premium for minting, distribution and dealer costs. See bid, ask and premiums.
What is the spot price? The current wholesale market price of gold for immediate delivery.
Is gold a good investment? That depends on your goals and situation. Gold can rise or fall sharply, pays no interest and costs money to store. See what moves the gold price.
Nothing here is financial or investment advice. Talk to a licensed professional before buying or selling.
How can I tell if gold is fake? Buy from reputable sources, check weight and dimensions and use professional testing for valuable items. See how to spot fake gold.
Where should I store gold? Options include home safes, bank boxes and professional vaults. See storing gold.
Mining and history
How is gold mined? By panning and placer mining, underground hard-rock mining and large open pits, followed by processing and refining. See hard-rock mining and open-pit mining.
Which country produces the most gold? China has been the largest producer since 2007. See top gold-producing countries.
What is the biggest gold nugget ever found? The Welcome Stranger, found in Australia in 1869. See largest gold nuggets.
How deep do gold mines go? The deepest, in South Africa, reach about 4 kilometers. See deepest gold mines.
Uses
What is gold used for besides jewelry? Electronics, dentistry, medical tests, spacecraft, gilding and investment. See gold in electronics and gold in space.
Can you eat gold? Food-grade gold leaf is inert and is used as a decoration in tiny amounts. It has no nutritional value. See gold leaf and gilding.