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<p>[QUOTE=&quot;Burton Strauss III, post: 26188436, member: 59677&quot;]That&#039;s also true of precious metals, albeit with a floor based on their value in use. </p><p><br /></p><p>More generally, the value is what people are willing to exchange for it - my 1 gram of gold for your case of baked beans. </p><p><br /></p><p>&quot;Our best estimates suggest that around 216,265 tonnes of gold have been mined throughout history. &quot;</p><p><br /></p><p><br /></p><p>If gold were found in such quantities that it was useful only in electronics, it would still have some (small) value.</p><p><br /></p><p>That&#039;s the fallacy of Psyche (the asteroid)... it&#039;s &quot;worth&quot; &quot;$10 Quintillion&quot; dollars, except if it were mined, the quantities of &quot;precious&quot; metals would depress their &quot;value&quot;.</p><p><br /></p><p><a href="https://science.nasa.gov/mission/psyche/" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://science.nasa.gov/mission/psyche/" rel="nofollow">https://science.nasa.gov/mission/psyche/</a></p><p><a href="https://www.gold.org/goldhub/data/how-much-gold" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.gold.org/goldhub/data/how-much-gold" rel="nofollow">https://www.gold.org/goldhub/data/how-much-gold</a>[/QUOTE]</p><p><br /></p>

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