Advancing Religious Liberty
This opinion column originally appeared on townhall.com on 6/26/2012.
Gold is valuable because of its singularity and its scarcity. It is singular in that it is gold and there’s nothing like it, and of course it’s scarce because of where it’s located and the struggles that must be undertaken to reach it.
Because of these factors, we buy gold bracelets, rings, and necklaces. Some investors even buy gold bars and coins, as there is intrinsic value in the genuine article.
Of course, there are gold imitations, made to look and shine like gold, and they are used to cover the outside of bracelets, rings, or necklaces in order to make them look real. But in time, the imitation gold begins to tarnish or fade, or a jeweler who knows the real McCoy from an imposter takes a look at it and immediately recognizes that it’s not the real thing.