A Chemist Explains Why Gold Beat Out Lithium, Osmium, Einsteinium …

Jacob Goldstein and David Kestenbaum at NPR:

Sanat The periodic table lists 118 different chemical elements. And yet, for thousands of years, humans have really, really liked one of them in particular: gold. Gold has been used as money for millennia, and its price has been going through the roof.

Why gold? Why not osmium, lithium, or ruthenium?

We went to an expert to find out: Sanat Kumar, a chemical engineer at Columbia University. We asked him to take the periodic table, and start eliminating anything that wouldn't work as money.

The periodic table looks kind of like a bingo card. Each square has a different element in it — one for carbon, another for gold, and so on.

Sanat starts with the far-right column of the table. The elements there have a really appealing characteristic: They're not going to change. They're chemically stable.

But there's also a big drawback: They're gases. You could put all your gaseous money in a jar, but if you opened the jar, you'd be broke. So Sanat crosses out the right-hand column.

More here.