In its pure form, gold is the most malleable material known.
A single gram of the metal can be hammered out into a sheet measuring one square metre. This makes 100% pure gold too soft for most practical purposes, so it is used in alloys with metals like silver, palladium, copper, zinc, and others.
Sales, purchases, appraisals — we can help you
Gold is money
In the Western world, a high degree of sentimental value is associated with gold
PRICES FOLLOW THE GLOBAL MARKET PRICE
It is commonly thought that gold can be purchased more cheaply abroad, such as while on holiday. However, this has to do not with the price of the gold itself, but the price of the work put into creating the jewellery, plus the mark-up on the item. Gold actually has a global market price, meaning that it is equal everywhere, for everyone.
In Denmark, the rest of Scandinavia, and the Western world, we have a long tradition of “love jewellery” — that is, jewellery which we assign great symbolic and emotional value to, such as engagement and wedding rings. It’s common for us to give jewellery to those we love. That’s why we often assign such great sentimental value to jewellery, even jewellery we inherit, rather than being given the jewellery directly. This also means that we have a tendency to hide gold away in drawers instead of turning it into cash.
Looking to the East, the prevailing view there has always been that gold is money. The Danish tradition of fine, hand-crafted gold pieces does not exist there; instead, jewellery is often produced exclusively by machine. Jewellery, coins, and other gold objects are usually given as “economic gifts” for occasions like weddings and baptisms. The idea is to give the recipient financial security for the future. This jewellery, then, is often not designed to be worn. The gold’s market value is placed above the value of the craft, and gold is used more often as currency, without necessarily attaching to it the sentimental value that we typically attach to it in the West.
However, rising gold prices have led more and more people to get rid of their inherited gold, jewellery from past marriages, and so on. Gold prices are also still very favourable.