Why do we give value to precious metals and stones?


0|0
3|6

Most Helpful Girl

  • so their feelings don't get hurt and so they don't get offended. everything must be equal nowadays.

    0|0
    0|0

Most Helpful Guy

  • Mainly for two reasons:
    1) They work great as a means of transaction (currency) because they are rare and their total amounts are limited. This means that their value is stable and inflation is impossible.
    2) Contrary to paper money and electronic money, things like gold or diamonds also have a use value besides having an exchange value. In other words: you can't just use them to pay your lunch, you can also actually use them. Especially gold is extremely versatile. You can make a nice wedding ring out of gold but you can also use gold in many different scientific and technological contexts. For example the hard drive of your computer contains small amounts of gold. Every smartphone that comes from a big brand (apple, samsung etc.) contains so-called rare earth elements (which are usually extracted by appalling slave labor in the third world). Paper money on the other hand is in itself completely useless. You can't use a 10 dollar bill for anything... except maybe for lighting your cigarette if you're very rich. It's just a strip of paper.

    0|0
    0|0

What Girls Said 2

What Guys Said 5

  • They look pretty, are somewhat rare, and allow people to flaunt their wealth/feel superior to others.

    With diamonds, the Debeers company has a near monopoly on diamond mines and purposely restricts the amount of diamonds in circulation to inflate the prices. They also did a lot of advertising to get people to associate them with being a declaration of love and people bought into it and now its tradition.

    0|0
    0|0
  • Diamonds are girls best friend? Carbon is just so fabulous! If I could buy sugar for $3,000 a pound I totally would, but they try to see it to me for $0.26 a pound. It makes me feel so poor when I buy carbon for it's actual market value. I need to over spend on it so I feel like I'm special, you know like Ed... He was a special guy.

    https://www.youtube.com/watch?v=pfFRv_1XdDM

    0|0
    0|0
  • Because they are rare.

    0|0
    0|0
    • How rare? There are millions of them out there

    • Compared to other minerals they are rare. Not just rare, hard to extract. It takes money and resources to extract them and process the ores etc..

  • because precious

    0|0
    0|0
    • That could be a marketing ploy

  • Because people like them and there really not that expensive compared to other elements osmium is worth 10x what golds worth and basically all we do with it is use it to calalize reactions like cleaning up your car exust not to mention the cost of mining and purified nuclear fuel or those super rare elements your smart phone is made of and really the only advantage of using gold or platinum in a ring is that there extremely unreactive in fact you could drop eather is full strength battery acid and they wouldn't dissolve and 80% of dimonds are used to make cutting tools and the only real advantage dimond has is that it's practically unbreakable

    0|0
    0|0
Loading...