Whether it's nuggets or flakes, gold is dazzling and desirable

You wanted to know

"Why is gold so valuable?" asked a young patron at the Grayslake Area Public Library.

Gold has been considered a precious commodity for millions of years, regardless of its form as the nuggets, flakes or particles found across the world in rivers, mines and mountains.

If you fashioned a gold object some 5,000 years ago, it would look exactly the same today as when it was first crafted. Of the eight noble metals - those that stand out because they don't oxidize - gold is the only one that won't rust, tarnish or poison.

Gold is universally accepted as valuable because of its rarity, its beauty and the fact it pretty much stays the same year after year, through centuries and millennia - dazzling and very desirable.

With the exception of a glut of gold in the 1600s, the quantities available are limited, and low supply always creates demand. Think PlayStation 4, Xbox and Wii U when they were first available on store shelves. New versions of these video game consoles drive demand especially when supplies are low, and the same holds true for gold.

While our currency was once tied to the amount of gold held in Fort Knox vaults, our government no longer links cash to gold, freeing up currency to be printed at whatever rate is needed. All other countries have followed the same practice.

Gold bricks are not entirely made of gold. A small amount of copper, silver or platinum is added to fortify the brick. The same holds for jewelry, which is fabricated in 14, 18 or 24 karats - the highest number being the most pure form used to fashion rings, bracelets, earrings or necklaces.

Why does gold continue to be prized, even centuries after the Egyptian kings were laid to rest in resplendent golden sarcophagi?

Its chemical symbol Au comes from the Latin word aurum, which means sunshine - its glint is so alluring, it drove Queen Isabella to conquer the New World in search of more gold.

Gold's versatility boosts its value. A short list of uses includes coins, jewelry, honorary trophies or medals, art and artifacts, cellphones, calculators, GPS units, circuits, film, spaceship materials, computers, computer chips, tooth filling, medicine, medical equipment.

Fresh out of the mine or stream, gold is pretty much ready to be put into use.

The world's largest gold mines are in Indonesia, Peru and Nevada. JM Bullion quotes the price of gold as $1,210 per ounce, down from a high in January of $1,302. A standard gold bar, also called an ingot, weighs 400 ounces, so the cost of a standard gold bar is almost $500,000.

You can tour a gold vault and gold museum at the Federal Reserve Bank in New York City's Financial District. Built in the 1920s, the vaults, carved 50 feet below sea level, safeguard 530,000 gold bars for governments, banks and international organizations from across the globe. Tours are free and times are limited, with reservations required. Find out more at www.newyorkfed.org/aboutthefed/visiting.html.

Try your hand at panning for gold. California, Arizona, Georgia, North Carolina and Tennessee have sites that offer lessons. You can dig into buckets of river silt and hopefully uncover gems, gold flakes or even a nugget.

Check it out

The Grayslake Area Public Library suggests these titles on gold:

• "Gold" by Christine Petersen

• "Gold" by Brian Belval

• "Everything Money: A Wealth of Facts, Photos, and Fun" by Kathy Furgang

• "The California Gold Rush" by Mel Friedman

• "Ancient Coins Were Shaped Like Hams: And Other Freaky Facts about Coins, Bills, and Counterfeiting" by Barbara Seuling