Common & Surprising Applications for Gold

 

Precious metals are more than just investments. Silver, for instance, has many industrial uses, from medical devices to mechanical components and automobile parts. Gold, on the other hand, is mainly used for investment purposes, although it can also be found in space on the James Webb Telescope, which contains approximately 48.25 grams of gold on its mirrors. Below, the professionals from First National Bullion, the best place to buy gold in San Diego, offer details about some of the top and unusual ways gold is used.



Jewelry

Jewelry accounts for 51 percent of all gold usage. For many people around the world, gold is a source of wealth when it’s in the form of jewelry. It can also be sold for a nice price if the gold is mixed with other design elements. Keep in mind pure gold is soft, so gold in jewelry is often mixed with other metals to make it more durable and less susceptible to damage. Gold jewelry is available in a variety of styles and price ranges, depending on factors such as how much gold is used.

Coins and Bars

The next most common use for gold is for coins and bars. Gold bars and coins are popular around the world. Central banks in the United States use gold as a hedge against inflation, as do other investors. There are many options with gold bars and coins. With coins, popular choices include the American Eagle collection and Canadian Maple Leaf coins.

Technology

Another top use for gold is technology, mostly in electronics and the connections between different electronic components. Gold is also used for computer parts such as mainboards and for smartphones. Gold is popular because it has the lowest resistance to electricity of all metals. It’s so commonly used in electronics that many recycling centers routinely recover gold from computers and other electronics.

Medicine

Gold has several applications in the world of medicine. It’s commonly used for dental products because it’s resistant to corrosion. Gold is also a popular choice for fillings and crowns. It has even been used in some cancer treatments.

Other Uses

Gold in (or on) food? Absolutely! Gold is used in high-end foods for decorative purposes, which allows restaurants to charge a bit more, and it looks appealing to certain customers. Other uses for gold include making glass with certain ruby hues.

 

We mentioned space before with the James Webb Telescope. Gold has other space-related uses as well. It’s also used for astronaut visors and on space vehicles as a shield against radiation.

Gold is also an important catalyst in certain chemical reactions. Gold is used in cell phone components and various components of nanotechnology, fuel cells, lithium-ion batteries, and solar cells. Awards like Olympic medals, Academy Awards, and Nobel Prizes utilize gold, and gold is even used for certain high-end alcoholic beverages as an additive. 

 

Whether they’re looking for information on the various uses of precious metals or they want to buy gold bars, San Diego residents should reach out to trustworthy precious metal dealers who offer high-quality service and have years of experience. Call on the industry-leading professionals at First National Bullion when you’re ready to invest in precious metals, including gold, silver, platinum, and palladium. Give us a call today.

 

The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.