The Most Common Uses for Gold
Contrary to popular belief, gold isn’t simply used for currency and jewelry. In fact, gold is among the most revered and valued metals in the history of civilization. This precious metal conducts electricity, is malleable, doesn’t tarnish, can be made into sheets or wires and alloys well with a variety of other non-precious metals. Throughout history, gold has helped shape humanity.
The top most common uses for gold include:
- Jewelry – While it’s commonly assumed nearly all gold is made into jewelry, only 78-percent of gold is made into this valuable commodity. Beautiful and durable, gold jewelry has been revered since the beginning of time. In India, gold is associated with attracting blessings and great wealth.
- Investing and Finances – Gold is a rare metal, which makes it valuable. Precious metals have taken part in civilizations’ currencies for at least the last 6,000 years. At one time, the U.S. held all monetary currency to a required gold standard. Since 2000 when the stock market became extremely volatile, gold has proven to be a common investment method. Many investors buy or sell gold bars, gold coins and even gold bullion. Some investment firms will also permit gold IRAs as possible investment opportunities.
- Computers and Electronics – As an efficient energy conductor, gold is used in nearly all electronic devices, which includes televisions, cell phones, GPS units, laptop computers, desktops and tablets.
- Medicine – In dentistry, gold is excellent for bridges, fillings, orthodontic appliances and crowns. Used in primitive dentistry and dating back to 700 B.C., gold is a choice material for replacing missing or broken teeth. In medicine, gold isotopes are sometimes used in various radiation treatments.
- Aerospace – Gold is essential to the aerospace industry. Used to lubricate mechanical parts, gold helps to conduct electricity and also coats the internal parts of space vehicles, ultimately protecting astronauts from heat and infrared radiation.
- Awards and Medals – While this may be considered a jewelry component, gold is used for military awards for its rarity and prized qualities. Because it is considered a valuable, it is the highest award and achievement to bestow upon another human being.
Mineloans.com specializes in offering gold mine loans. These loans range in value from $5 million to $500 million. With both debt and equity options available, funding can be available in as few as 30 days. With on-staff mining experts, Mineloans.com strives to help companies succeed with their mine funding projects.
Gold mine loans require geology reports, assay reports and third party reports, if available. All necessary information must be presented on gold permits and claims. Gold borrowers must show proof of funds, which may range from 1-percent up to 10-percent, depending upon the investors’ requirements. All borrowers’ upfront funds are reimbursed upon successful loan closing.