One could speculate and theorize the reasons for price fluctuations all day long by checking out our historical price charts for gold. Unfortunately, our charts only date back to our when our company was founded, in 1985. Of course, there have been historically significant price shifts before then – one of which was a scandal known as the Civil War Gold Hoax.
It all began right here in New York City in 1864. Two newspapers published a story that President Lincoln was issuing a proclamation to boost the ranks of the Union army by 400,000 men to fight in the Civil War. Although only two newspapers published this information, word spread quickly and the stock market reacted. From the public’s perception, the Union army’s need for such a large amount of new soldiers in such a short amount of time surely indicated that they were losing the Civil War. Investors rushed to protect their assets – the stock market took a hit and gold prices jumped by 10%.
It sounds like an average market fluctuation, except for one thing: the stories were completely false. Unfortunately, the government was not able to debunk the stories before the damage had already been done. President Lincoln was displeased to say the least and the fallout went down in history. In our next blog post, we’ll discuss the motives behind the Civil War Gold Hoax and reveal the mastermind culprit!
Gold is an important component in aerospace equipment and projects. Yet, it has also gone up into space for an entirely different purpose. In 1977, the world was abuzz with the Voyager Golden Records that were launched into space.
Aboard each Voyager spacecraft is a golden 12-inch record meant to educate any space-faring life form that may find it about the human race and the planet Earth. On the record are:
• 115 images depicting humanity, animals, mathematical concepts, anatomy, and more.
• A variety of natural sounds.
• Several musical selections from different eras and cultures.
• Spoken greetings in 55 different languages.
The records themselves are made of gold-plated copper and encased in an aluminum cover. The cover is also electroplated with an ultra-pure sample of the isotope uranium-238. This isotope has an extremely long half-life (4.51 billion years) which makes the record easy to date. Whoever (or whatever) finds the records just needs to measure the remaining uranium to determine the age of the record.
Of course, the records’ packaging includes pictorial instructions for playing and deciphering. Both records have already passed Pluto and are out of our solar system. It will be about 40,000 years before they pass any new stars. Because gold never corrodes, the records should still be in mint condition by that time.
Our customers know that Manhattan Gold & Silver is a small business based in Manhattan’s famous Diamond District. While we might look small when you visit us in the District, we’re exploding online!
Some of our longtime customers don’t even know that there’s more to us than our storefront and company website. Here’s a breakdown of all the places you can find Manhattan Gold & Silver:
• Our precious metals prices app can be found on iTunes. This robust app has all the features you need to review and track precious metal prices in the palm of your hand.
• Join the conversation about precious metals on the MGS Facebook page. Like us on Facebook to post messages on our wall, browse our photo albums, see exclusive contests, and more!
• Follow gold, silver, and other precious metal trends at the MGS Twitter account. Every week, receive quick factoids about precious metals and updates about our main website.
• Circle MGS on Google+ to hear our latest updates. You can also browse our Google+ Local page to see details about our location and what some of our customers have to say.
• If you do business with us, connect with us on the MGS LinkedIn page. It can’t hurt to have more business connections. You can also browse our service offerings and recommend them to the rest of your contacts.
• To see precious metal melting and refinement in action, visit the MGS Youtube channel. You can watch what our day-to-day operations are like at the heart of our business: the refinery.
• MGS records amazing facts, history and news on our gold and precious metals blog. Subscribe to our RSS feed so you never miss our latest articles.
The Get Connected page on our website condenses all of our online locations for easy browsing. We’ll see you around!