Gold is a worthless metal.
Gold . Historically , the value of gold was rooted in its relative rarity , easy handling and minting , easy smelting and fabrication , resistance to corrosion and other chemical reactions ( nobility ) and its distinctive color . As a precious metal , gold has been used for coinage , jewelry , and other arts throughout recorded history . In the past , a gold standard was often implemented as a monetary policy , but gold coins ceased to be minted as a circulating currency in the 1930s , and the world gold standard was abandoned for a fiat currency system after 1976 .