Introduction to Gold
A toilet made of solid 18-karat gold was auctioned at Sotheby’s for $12.1 million. The fully functional toilet was created by Italian artist Maurizio Cattelan and is described as a commentary on excessive wealth. The artwork is also fittingly named "America", which coincides with the current US President’s apparent obsession with gold.
An Age-Old Obsession
Gold has fascinated the world for thousands of years, with every civilization valuing it in some form and giving it special meaning and power. The oldest gold discoveries date back around 6,500 years to the "Varna gold" found in Bulgaria. These gold artifacts, including jewelry, decorations, tools, and weapons, were concentrated in a few graves, suggesting early social hierarchies where gold meant status, power, and wealth.
Gold in History
Similar grave finds from the Mapungubwe Kingdom in South Africa and the Inca and Aztec Empires show that gold was also a symbol of social status in these cultures. In fact, the Inca and Aztec Empires legally restricted who could wear gold, with such ornaments serving to establish identities, enforce status, and separate individuals.
The Metal of the Gods
Gold has long been associated with the divine, adorning the regalia of rulers, the domes and towers of churches, and the facades of temples. The ancient Egyptians believed the flesh of the gods was gold, while ancient American civilizations believed it was a way to bridge the earthly and supernatural worlds. The ancient Greeks even personified gold as a god, Chrysos.
The Indestructible, Shape-Shifting Superhero Among Metals
The symbolic power of gold is rooted in its unique properties. It is corrosion and tarnishing resistant, not attacked by most acids, and occurs in nature in raw form. Gold is also dense, weighing significantly more per cubic centimeter than other metals, and is easy to work with, able to be hammered or pressed extremely thin and drawn into fine wires.
A Gift of Wealth
Gold’s scarcity has helped it retain its value throughout history, making it a stable long-term investment. Gold jewelry and items gifted at various life moments symbolize not only a blessing and wish for happiness and prosperity but also a concrete gift of wealth, intended to give the recipient financial ability to act in the future.
Too Much of a Good Thing?
While gold’s positive symbolism has its limits, too much of it can cause it to lose its luster and give a negative perception. The ancient Greek King Midas is an example of this, with his ability to turn anything he touched into gold being a curse rather than a blessing. In modern times, the ostentatious display of gold can signal a lack of good taste and/or class, even if it explicitly expresses wealth.
The Timeless Value of Gold
Ultimately, gold’s timeless value and potential stickiness are perhaps best summed up by historian Peter Bernstein: "Nothing is so useless and useful at the same time." This sentiment is reflected in the auction of the gold toilet, which sold for $12.1 million, highlighting the enduring allure and value of gold.
