As Gold Supplies Dwindle, Demand for Recyclable Gold Will Remain High
“The World Is Running Out of Gold,” a post that Kelsey Campbell-Dollaghan wrote for Gizmodo, reports that most of the extractable gold that occurs in nature has already been mined.
Here’s what Campbell-Dollaghan reports . . .
- Mining companies are already digging deeper and deeper to find gold. Many of the places in the world where it lies close to the surface are found in arctic areas where mining is prohibitively difficult and costly.
- Gold is getting scarcer. In one instance, a mining company had to blast away 100 metric tons of rock to extract one ounce of gold.
- New finds are rarer. Back in 1995, 22 gold deposits were found that contained at least two million ounces of gold. There were only six such discoveries in 2010, and none in 2012.
- The gold that’s in your cellphone might be the same gold that was in an ancient Roman or Greek coin. It might have gotten smelted into a bar a few hundred years ago, then used in jewelry, and finally used to make your iPhone or Android. Most of the gold that has ever been mined has been used over and over again.
Yet People Continue to Toss Gold Away
As we reporting in a recent post, as many as 89% of old smartphones are simply tossed by their owners, who don’t want to take the trouble to recycle them. Similarly, people toss old desktop computers, televisions, radios and other devices with printed circuit boards that contain small quantities of recyclable gold.
It doesn’t make much sense, does it? As gold supplies dwindle, people just toss it away.
If you have a quantity of old items that contain gold – from phones to jewelry to used gold sputtering targets – remember that they could be worth more than you think, even if they only contain small amounts of gold. Call us at 800-426-2344. With worldwide supplies of gold dwindling, the demand for this most fabled of precious metals is not about to go away soon.
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