Gold has always been a valuable and tradeable commodity. It is not just in the modern world, but the ancient world as well. This is perhaps why in modern economies and environments gold is still a highly valued currency. By understanding the history behind gold and its place in society, on can gain a better understanding of why gold has always had value. Unlike other metals, gold and silver have always reigned supreme with gold coming out on top. Even today gold is traded at a very high price, and other then being used in trace amounts in phones and other electronics, gold doesn’t offer much else in the realm of purpose.
Early societies eventually had to come with a type of currency, especially when trading and bartering items was not an option. This currency at first resembled that of a coin. So, the most logical choice for a coin would have been some sort of metal. When understanding the metals around including lead, silver, iron, palladium, aluminum, and platinum, it is easy to understand why gold was chosen. Other metals such as iron copper, and lead are prone to corrosion over periods of time, and therefore did not offer a good store value. This is the main purpose of a coin. Gold does not corrode and can be melted over a flame, these traits made it easy to be stamped. In addition to its elements gold also offered a unique color.
When it comes down to it, gold does not have a major purpose. There is a small amount of gold used in smart phones, but the amount is so minuscule that it is barely registered. Gold has been able to hold its value due to how humans and markets have valued gold. Basically gold does not offer any intrinsic value, this means that it is not something that can be eaten or imbibed. So, if there is an agreement that is determined that turns gold into a coin that allows for the exchange of goods, such as food or drink, then the coin is what becomes valuable. So, basically it comes down to the fact that others think that gold has value, so therefore you think that it has value, then because you think it has value, then those people providing services think it has value too. If gold stopped being used as currency, it would have no value.
The age old question why has gold always had value is not a hard question to answer. It comes down to what the gold can be traded for, such as goods and services. It is truly the goods and services that are valued, not the gold, the gold is just a means to purchase what is needed. Eventually if another metal were to come into play, or there were another form of payment for goods and services the gold would slowly lose its value.