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Material World

Currency metal

A metal becomes money by being durable, divisible, portable, recognisable and scarce, and the same short list of metals has satisfied that in most places independently. Coinage is the oldest sustained industrial use of several of them, and assaying is among the oldest analytical chemistry.

The interesting failures are the metals that qualified and did not last. Aluminium was more valuable than gold before the Hall-Héroult process, and nickel and copper coinage survives while the precious metals have gone — a coin's metal is now worth less than its face value almost everywhere, which is a modern condition rather than a permanent one.

Each of these uses is established and cited on its own. Whether something counts as an ore, for instance, depends on grade, price and era — and those qualifications are shown alongside it.