Differences Between Similar Products
Jul 12, 2011 by khristine
What is the Difference between Gold and silver?
Gold and silver are two metallic elements that are quite similar with each other in some aspects. However, it is also a common knowledge that gold and silver are valued by the society in different ways.
Although both gold and silver are used in ornaments and jewelries, it is obvious that anything fashioned with gold is a lot more expensive than those shaped with silver. How does this happen?
In actuality, the difference in value between gold and silver has everything to do with their abundance/scarcity and demand/supply. Silver is said to be more plentiful and therefore less expensive than gold. Gold, on the other hand, is limited therefore highly valued. Nonetheless, both gold and silver are both noble metals that resist corrosion and can last through life time.
Gold is also viewed to be more valuable in a manner that it is more portable as compared to silver. An ounce of gold is already equivalent to 60 ounces of silver. In this sense, one can assert that it is more practical to bring gold than silver as the latter weighs more than the former and yet the corresponding amount between the two are the same.
Gold and silver also differ in terms of their uses. While the demand for gold is greatly intended for jewelries, currency, and a form of investment that are normally kept in vaults; silver on the contrary are highly utilized for industrial purposes. Silver are mainly exploited for factory production of various commodities like batteries and electronics. Other functions of silver include charms and ornaments, as a form of investment, in photography, minting of coins, and as household silverware.
What’s more, gold and silver are distinct in terms of their properties. Gold is flexible. It is soft that most of the times it needs to be alloyed (or mixed with another metal) to maintain its form. Silver, in a different manner, is lustrous but tarnishes in time.
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