A total of 165,000 tonnes of gold have been mined in human history, as of 2009. This is roughly equivalent to 5.3 billion troy ounces or, in terms of volume, about 8500 m3, or a cube 20.4 m on a side. The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.

Pure gold is too soft for day-to-day monetary use and is typically hardened by alloying with copper, silver or other base metals. The gold content of alloys is measured in carats (k). Pure gold is designated as 24k. English gold coins intended for circulation from 1526 into the 1930s were typically a standard 22k alloy called crown gold, for hardness (American gold coins for circulation after 1837 contained the slightly lower amount of 0.900 fine gold, or 21.6 kt).

Gold can be used as a hedge against inflation or other economic disruptions. While the purchasing power of fiat currencies (Dollar, Pound, Euro, etc) fluctuate and decrease over time because of inflation, the purchasing power of Gold has held steady over many years.

One of the biggest problems with holding Gold (or Silver) was how to store it securly, many chose to hold it in bank vaults or safes but now its possible to do everything on-line with GoldMoney.

GoldMoney has a complete online sign-up process (no paperwork). Customers in the UK can get started quickly with a Basic Holding and later upgrade to a Full Holding as more funds are transferred-in for metal purchases.

What is a Holding? - To buy precious metals with GoldMoney, you need to have a Holding, which is the digital customer file where the ownership of your metal is specified and your transactions are recorded. We have deliberately chosen the word 'Holding' instead of 'Account' to make it clear to our customers that they own the metal and it is held in their name.

Holding Types - For customers resident in the UK, GoldMoney offers two types of Holding: Basic and Full. Basic Holdings are easier to set up due to lighter regulatory requirements, but offer less functionality than Full Holdings. You can open both Holding types entirely online, without having to leave your home (no paperwork to send by post). This is made possible through our partnership with Equifax.

  Some of the text came from WikiPedia on Gold