Forged, Not Found

What the origin of gold teaches about verified value.

Perspective2 min readEditorial draft

In brief

  • Gold is better understood as the record of extreme events than as a gift of the earth.
  • It became a store of value because it was scarce, durable and verifiable.
  • Creative production is abundant; what has been scarce is verification.

Gold looks like a gift of the earth. It is better understood as the record of extreme events.

Elements heavier than iron are not produced by the ordinary burning of stars. Much of the universe’s gold is now thought to have formed in rare cataclysms — in particular the collisions of neutron stars, whose aftermath astronomers observed directly in 2017. Some supernovae may contribute too. Either way, gold was made under conditions that almost never occur, long before the Earth existed.

  1. Rare cataclysms

    Elements heavier than iron are forged in extreme events such as neutron-star collisions, whose aftermath astronomers observed directly in 2017.

  2. A young Earth

    Most of the planet’s original gold is thought to have sunk toward its core as it formed.

  3. Late delivery

    Much of the gold within reach may have arrived later, delivered by meteorite bombardment.

  4. Trust through testing

    People could test, weigh and verify gold, and so trusted it to remain what it claimed to be.

Even on Earth, the gold within reach is a kind of accident. Most of the planet’s original gold is thought to have sunk toward its core as the young Earth formed. Much of what remains near the surface may have arrived later, delivered by meteorite bombardment.

Gold was never valuable because it was common, nor simply because someone declared it so. It became a store of value because it was scarce, durable and verifiable — it could be tested, weighed and trusted to remain what it claimed to be.

What made gold a store of value, and what creative work lacks
PropertyGoldCreative production today
ScarceYes, by cosmic accidentNo: it is abundant
DurableYesOften, but not always recorded
VerifiableCan be tested and weighedNeeds verification: this is the gap Sanaa Sanifu closes

That is the lesson Sanaa Sanifu takes from it. Creative production is not scarce in the way gold is; it is abundant. What has been scarce is verification. Value follows when work can be tested, recorded and trusted to remain what it claims to be.

“Value follows when work can be tested, recorded and trusted to remain what it claims to be.”

— From this article