Why is Gold Valuable? – The Prestige in Being Number 1

There are 98 naturally occurring elements. Yet, humanity has a clear preference when it comes down to associating public value with just one of them.

You have guessed it right. We are talking of Gold.

Why is Gold Valuable

We have all asked the question – Why Gold? And we can answer the question simply. Gold was used as a currency by multiple civilisations because of certain qualities. There is a simple deduction method to be applied here to highlight the said qualities.

Straight from the back, we can eliminate the noble gases and halogens – you can’t carry around cylinders of gas as an exchange system.

We can eliminate other elements, such as Mercury, Arsenic, and Bromine, because they are poisonous.

The alkaline and earth metals are too reactive,

And, as we make our way down the periodic table, some elements are radioactive and will simply kill you over time, along with medical complications for the rest of the surrounding.

The last ladder then is the rarity of an element. But, most of these rare elements have another associated problem. They are harder to distinguish from one to another. This means that a slide of hand and you would have spent your resources on virtually nothing.

So, we are left with a small set of options – Silver, Platinum, Rhodium, Palladium, and Gold. We can still take out some of the options.

Silver is reactive, Rhodium and Palladium were just discovered in the 1800s, and Platinum needs a furnace that can reach a temperature of 1,500 degree celsius. So, what are we left with?

Gold.  

Gold simply comes out as the winner. Gold has climbed the ladder to the number one and it’s still there.

Prestige of Being the Number One

You may say at this point – but we don’t use Gold as a currency anymore. And, you are right. There is simply a case of perceived value of Gold. It is still seen as valuable for whatever purpose you may have.

At this point, it is not about being number one for Gold. What does the perceived value do for a business?

If we are going by the rule of perceptive value, we can apply the Gold principle to any popular item. Why was the market paying over £15,000 for a bitcoin a couple of months ago, but now the price is down to 20% of the peak price?

Why do people pay double or even triple for an Apple product than the competition when it is clearly not worth the price in terms of functionality?

The simple answer is – associated prestige – prestige that has been around for ages and will remain for ages.

This means that once Gold climbed to number one, it has to really mess up to bulge. (Well, people messed up with Bitcoins).

And, for the case of Gold, people keep finding ways to integrate it in life to feel that prestige.

A Digital Marketing Comparison

So, what happens when a business is number one in a sector, or even a geographical area on Google?

Apart from that boost in sales, the prestige points go up too. You are taken more seriously by the potential and current clients. People will make way for you in their lives – the same way as it happens for Gold.

And, that’s exactly what SEO – our prime service – does. We take businesses to the top of the search. We imprint that value before even the click happens. We ensure that you have an impact beyond the measurable.

Interested? Drop us a message or give us a call today to find out how we can take your business to the next level.

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