5 Interesting Facts about Gold
Almost all gold came from Meteorites
Most of the worlds gold is at the center of the earth. There is enough gold to coat the entire surface of the earth with about 18 inches of the stuff. When the earth formed – it was a giant ball of molten rock with a ton of iron and other metals sprinkled in. Over many millions of years, the iron, gold and most other metals sank to the center of the earth where we might never be able to reach it. Almost all the gold that we have today came from meteors!
Around 4 billion years ago the earth and moon were under constant bombardment from meteorites floating around our solar system. After 300 million years, the earth’s surface was littered with gold and most of the heavier metals that we mine today.
Nearly half of the gold mined came from South Africa
Witwatersrand Basin hold the world’s largest known gold reserve. Estimates put 1.5 billion ounces of the yellow metal in the 150km wide basin. Most of the gold is at 6 river deltas where the gold is collected and deposited in the surface. Most of the South African mines have been exhausted of their gold, but there are still silver, uranium and iridium that is still profitable to be retrieved.
More than 10% of the mined gold is held by Indian Women
Up until the 80s gold in India was difficult to get. Gold needed to be smuggled in and people would pay nearly 50% more than the bullion value to purchase it. Mostly poor farmers would keep their small savings in gold and was could use their gold as collateral for loans. Since the 90s gold is now purchased by the rich. At wedding, rich family brides are gifted enough gold to break their necks. Recently, the Indian government has declared a war on cash and opening a bank account in India can be a nightmare. So the logical conclusion for the Indian people is to invest their savings into gold.
There is a coin worth $45 Million Dollar
In 2011 an Australian Kangaroo was minted that weighs 1 ton with a purity of 99.99%. That is 32,000 ounces of gold. It was awarded the Guinness world record title of “largest coin.” The Australian government monetized the coin for a value of $1 million dollars, but the gold content of the coins is worth nearly $45 million dollars. If you’d like to see this coin – it is held in the Perth Mint’s Gold Exhibition in Australia.
All the gold mined in the world can fit into 3 Olympic sized swimming pools
The world has mined 166,500 tons of gold. If all the gold was melted down, it would fit in 3 Olympic sized swimming pools. Only a small portion of that gold is held in government hands. Most of it is in private hands with a tiny bit being used in industry. Visualcapitalist.com has some amazing graphics showing how much gold has been mined and compare it to everyday objects.