Precious metals history and stories, in conversation with Dr. Peter Riedi, economist and precious metals expert from the Principality of Liechtenstein, by Amelie Hauger student and blogger from Stuttgart.
Do you want to see a real feeling, a real smile? Show your counterpart gold, silver or precious stones. Gold – at the sight of this shiny precious metal, most people respond with a sparkle in their eyes. Not everyone owns it, but many covet it: a real piece of gold. Be it a valuable piece of jewelry made of real gold or a small gold coin. Those who own a piece of gold are usually very proud and take good care of it. But what is the story behind this precious metal?
Precious metals are only stored values, aren’t they? Yes and no!
Gold is designated with the abbreviation Au, for the Latin term Aurum, in the periodic table and belongs to the eleventh group, the so-called copper metals. This group also includes copper and silver, among others, which is why this group is also called coinage metals. What is special about gold is that, like other precious metals, it occurs in pure form in nature and does not corrode.
“For thousands of years, gold has been used in a variety of forms and types. The golden, shiny appearance, rare occurrence and imperishability of this metal ensured that this precious metal was considered very valuable early on and continues to be. These circumstances gave gold the reputation that still makes it so special today,” says precious metals expert Dr. Peter Riedi with conviction. Excavations prove that gold was already processed by people and used in the form of jewelry or works of art around 5000 years BC. Early on, people recognized the value of the precious metal. This gave rise to the idea of using gold as a means of payment. Dr. Peter Riedi is an economist, a convinced European, living in the heart of Europe and immersed in the fascinating world of precious metals already during his childhood. Historically, it is recorded that at a time about 500 years BC, the idea of gold as a means of payment emerged. “Not infrequently, gold was the reason for wars and campaigns of conquest in modern times. The desire for the noble metal reached its peak in the 19th century: in many places on earth there was a gold rush. The dream of wealth, adventure and the search for fortune sent gold fever into the “New World” of North America, South America, Australia, South Africa, Russia and Alaska. Large numbers of gold seekers left their homes, made pilgrimages and flocked around the world to places with large gold deposits, digging gold out of the ground,” explains Dr. Peter Riedi.
Coveted precious metals for jewelry and beauty
Today, gold is mostly used as jewelry in the form of various alloys. With the help of copper, silver or platinum, different colors can be created depending on the composition. For example, copper is added to obtain rose gold or platinum to obtain white gold. The possibility of investing money in gold is also popular with many people due to the supposed crisis security. Gold is also popular in the cosmetics sector. Many care products advertise to be enriched with gold and thus promise special luxury. According to traditional Chinese medicine, gold awakens our life energy. It is said to have an antibacterial effect, to rid the body of toxins and to counteract cell aging. These positive properties are only a selection of the effects that the precious metal gold promises.
What if wishes come true?
“The myth of the Greek god Midas should teach us, however, despite all the enthusiasm and fascination we have for gold, that gold is not everything,” Dr. Peter Riedi critically points out. According to legend, Midas was granted the honor of having a wish fulfilled. Because he worshipped the shiny metal so much, he wished that everything he touched would turn to gold. This wish was granted to the Greek god Midas and everything he touched turned to gold. Even the food and drink he wanted to eat, even his daughter, Midas the king accidentally turned into gold. The greed for gold can therefore, if you do not act with caution, quite quickly plunge into misfortune.
EM Global Service AG – Buy and store precious metals
The provider EM Global Service AG, based in the Principality of Liechtenstein follows an economic approach. Dr. Peter Riedi, economist and precious metals expert on this: “EM Global Service AG was founded in 2010. The acting persons had already been involved with precious metal concepts since 2007. At that time, our clients were mainly invested in stocks but the looming financial crisis steered our focus to asset protection by investing in precious metals.” The company’s concept is built on: Buy – Store – Hedge. EM Global Service AG’s customers buy the precious metals at a price otherwise reserved for wholesalers, explains Dr. Peter Riedi. The company stores the customer’s property in a Liechtenstein high-security vault facility. The advantage is the VAT exemption of the third-party storage.
Student & Blogger
About the author:
The student Amelie Hauger is currently doing a dual degree in Stuttgart. Her enthusiasm for technology has grown since she was a child, which is why the mechanical engineering and production technology area, with a focus on mobility, precisely reflects her interests. The change between theory and practice makes the dual study interesting. Her particular interest lies in future technologies, new materials, autonomous driving and driverless transport.
Keywords:Precious metal, gold, silver, platinum, palladium, King Midas, gold rush, gold fever, gold digger, jewelry, beauty, Dr. Peter Riedi, EM Global Service AG, Principality of Liechtenstein
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