Charecteristics

Gold is the most malleable and ductile metal; a single gram can be beaten into a sheet of one square meter, or an ounce into 300 square feet. Gold leaf can be beaten thin enough to become translucent. The transmitted light appears greenish blue, because gold strongly reflects yellow and red.

Medium of monetary exchange

In various countries, gold is used as a standard for monetary exchange, in coinage and in jewelry. Pure gold is too soft for ordinary use and is typically hardened by alloying with copper or other base metals. The gold content of gold alloys is measured in carats (k), pure gold being designated as 24k.

Gold coins intended for circulation from 1526 into the 1930s were typically a standard 22k alloy called crown gold, for hardness. Modern collector/investment bullion coins (which do not require good mechanical wear properties) are typically 24k, although the American Gold Eagle and British gold sovereign continue to be made at 22k, on historical tradition. The Canadian Gold Maple Leaf coin contains the highest purity gold of any popular bullion coin, at 99.999% (.99999 fine). Several other 99.99% pure gold coins are currently available, including Australia's Gold Kangaroos (first appearing in 1986 as the Australian Gold Nugget, with the kangaroo theme appearing in 1989), the several coins of the Australian Lunar Calendar series, and the Austrian Philharmonic. In 2006, the U.S. Mint began production of the American Buffalo gold bullion coin also at 99.99% purity.

Today, gold has fallen out of favor for use in coins made for general circulation.