How Rare is Gold?

The best estimates available suggest that the total volume of gold mined over history is approximately 155,500 tonnes, of which around 64% has been mined since 1950. More than 90% of the world's gold has been produced since 1848.

The dominant producing country for much of the 20th century was South Africa, which in the early 1970s was producing 1,000 tonnes per annum, or over 70% of the world total at that time. In 2005, South Africa mined only 296 tonnes, still enough to be the world leader. Second place Australia produced 263 tonnes followed closely by the U.S. at 262 tonnes.

The density of gold is 19.3 tonnes per cubic meter. The 155,500 tonnes of gold mined over the history of mankind would be 8057 cubic metres.

The dimensions of such a cube would be only 20 metres a side.

The world gold production is approximately 2500 tonnes per year. To this cube we would be adding approximately 10.7 cm per side.

Considering that the standard tennis court is just over 23 meters (78') long this clearly illustrates just how rare gold is.

Mike Hewitt

Editor

DollarDaze.org