Gold is one of the rarest elements in the world, there is roughly 0.003 parts per million of gold in the Earth’s crust. Unlike the days when James Marshall stumbled across an exposed chunk of gold in 1848 – which started the California Gold Rush – it is improbable for this to happen now.
The only way for us to require more gold is to dig deep into the Earth’s surface. This requires large teams of miners who use several techniques to extract the gold. You can find out more about gold mining methods here.
All of the gold ever mined comes to around 186,000 tonnes. If this were to be melted down to a cube totaling 20.5m this could fit inside the size of an Olympic pool.
There is approximately 57,000 tonnes of mineable gold left on Earth, which if estimations are correct this means we have around 20 years of known mineable reserves left. It is approximated that the last gold nugget will be exhumed in 2035.
To find out more about selling your unwanted gold and the services we offer here at The Manchester Gold Exchange, get in touch with us or give us a call on 0161 273 2511.