You’ve probably wondered how much gold is left in the world, but have you ever wondered how much gold there is beyond our world?
As it turns out, there’s a giant asteroid that contains enough gold and other metals to make everyone on Earth a multibillionaire. And NASA uses gold to protect spacecraft from radiation. With all the gold out in space, extraterrestrial mining is a real possibility.
Learn about potential sources of gold and uses for gold in space with U.S. Money Reserve, America’s Gold Authority®.
Psyched for Psyche
Unlike most rocky, icy asteroids, the Psyche asteroid—located between Mars and Jupiter—contains a motherlode of metal, including gold, iron, and nickel. And the estimated value of all that metal? About $700 quintillion. If that money were distributed to all 7.6 billion earthlings, each person would “mine” about $92 billion. To put that into perspective, the size of the economy of Hawaii sat at $93.4 billion as of late 2018.
An un-crewed NASA spacecraft is scheduled to head to Psyche in 2022 to explore the potato-shaped asteroid, which measures about 140 miles in diameter and ranks as one of the biggest asteroids in the region of space known as the asteroid belt. The spacecraft is set to arrive at Psyche on January 31, 2026.
With the move in 2019 to yet another critical stage in developing the Psyche spacecraft, Lindy Elkins-Tanton of Arizona State University (ASU) said she and her team “are one big step closer to uncovering the secrets of Psyche, a giant, mysterious metallic asteroid, and that means the world to us.”
Elkins-Tanton is the director of ASU’s School of Earth and Space Exploration, which is leading the Psyche mission.
By the way, you don’t want to start spending those billions of Psyche dollars just yet. One expert cautions that we could be decades away from mining gold and other precious metals in space. The science and technology aren’t fully developed yet.
Still, Allied Market Research forecasts the market for asteroid mining—most notably the design and construction of spacecraft needed to carry out mining missions—could approach $3.87 billion by 2025.
The Gold Standard in Space
Gold is a “vital strategic resource” in space, NASA says.
Many satellites carry gold-coated mylar sheets to protect them from solar heat, according to NASA. Meanwhile, a thin layer of gold on an astronaut’s helmet visor deflects solar radiation. And satellite microelectronics that send data around the world rely on gold components to ensure reliable, corrosion-resistant, and static-free performance, NASA says.
Golden Opportunity on the Moon
The moon isn’t so barren after all.
A 2009 NASA mission—in which a rocket slammed into the moon and a second spacecraft studied the blast—revealed that the lunar surface contains an array of compounds, including gold, silver, and mercury, according to PBS.
Beginning in 2020, a space exploration company called Moon Express is planning regular flights to the moon in pursuit of gold and other rare materials worth trillions of dollars, according to The Sun newspaper.
Back on Earth
There’s gold above the earth’s crust, but also below it. To date, about 244,000 metric tons of gold has been discovered, reports the U.S. Geological Survey. There may be more gold to mine, but no one can be sure how much gold is left or how hard it will be to dig up. The amount of gold found by miners has plunged 85 percent over the last decade, notes Bloomberg Market.
As far as the amount of gold that remains in the earth, the U.S. Geological Survey estimates that there are about 57,000 tons left to be mined. Compare that to the amount of gold that’s already been mined and what you’re left with is a cube that’s about 6 meters on each side. A cube that size would stand about as tall as an adult giraffe.
It’s no wonder that efforts are underway to mine gold from the Psyche asteroid and the moon!
Of all the minerals that are mined, none is more useful than gold, Geology.com says. That’s because gold conducts electricity, doesn’t tarnish, can be combined with other metals, can easily be melted and shaped, and has a brilliant luster.
Aside from the jewelry business, gold is used in the electronics, dental, medical, aerospace, and glassmaking fields, among others, according to Geology.com. And of course, it’s used to make gold coins and bars that retain their appeal and market attraction for decades, if not centuries. Historically, gold has been a long-term vehicle for storing wealth—an earthly source of wealth that’s out of this world.
You don’t have to travel light-years away to bring home physical gold. You can stay right where you are and buy online or call U.S. Money Reserve at 1-844-307-1589.
FAQs
The asteroid belt has a mass of something like 2 x 10^18 tonnes. Gold abundance in chondrites is 170 ppb on average. That will roughly reflect average gold content in asteroids as well. So it should be something like 340 billion tonnes.
How much gold are there in space? ›
In our solar system alone, there is an asteroid between Mars and Jupiter named 16 Psyche that scientists believe contains more than 700 quintillion dollars in gold and other precious metals. Considering today's gold price that is $63,039 per kg, this becomes around 11 trillion tons of gold.
How abundant is gold in space? ›
Abundance in the Universe of the elements
| Tantalum | 8×10-9% | 7×10-7% |
|---|
| Rhodium | 6×10-8% | 4×10-6% |
| Silver | 6×10-8% | 4×10-6% |
| Gold | 6×10-8% | 5×10-6% |
| Hafnium | 7×10-8% | 6×10-6% |
35 more rowsA satellite will typically consume 1 to 3 ounces of gold plating. The gold plating is usually used on the antennae, solar panels, and other components that are exposed to the vacuum and extreme temperatures of space.
Which planet is full of gold? ›
Psyche 16, nestled between the orbits of Mars and Jupiter, is made of solid metal. As well as gold, the mysterious object is loaded with heaps of platinum, iron and nikel. In total, it's estimated that Psyche's various metals are worth a gargantuan $11,000 quadrillion.
Does the Moon contain gold? ›
Gold is rare on the Moon for the same reason it is rare on the Earth's surface. It is compatible with the base metals iron, cobalt and nickel, and sinks to the core of large bodies with them.
How much gold is in the Milky Way? ›
If you multiply those mergers over the Milky Way's entire history, it indicates there should be roughly 100 million Earths worth of gold in our galaxy. “It's a number that comes with a factor of five uncertainty in either way,” Metzger says. “But that's the ballpark number.”
How much gold is on James Webb? ›
Although the Webb mirrors are rather large (the primary mirror has a total diameter of approximately 6.5 m), the thin gold layer weighs in at a mere 48.25 g.
What asteroid is worth $700 quintillion? ›
While NASA's primary attention is directed towards 16 Psyche, the asteroid belt where it is located contains numerous other ore-rich asteroids with an estimated combined value of $700 quintillion. Among them, the most valuable asteroid named Davida is believed to be worth an astounding $27 quintillion.
Why can't we create gold? ›
You have to use nuclear reactions to create gold. The difficulty is that nuclear reactions require a lot of energy. The nucleus of a stable atom is very tightly bound together, so it is hard to get anything permanently into or out of the nucleus.
So which is rarer, gold or diamonds? Gold is rarer than diamonds, despite what the diamond industry would have you believe. The diamond industry is very good at marketing, portraying diamonds as luxurious, rare gemstones, and increasing diamond prices.
Is there diamonds in space? ›
Although diamonds on Earth are rare, extraterrestrial diamonds (diamonds formed outside of Earth) are very common. Diamonds small enough that they contain only about 2000 carbon atoms are abundant in meteorites and some of them formed in stars before the Solar System existed.
How much gold is in the TV? ›
Only about 20 cents' worth of usable gold can be found in a flat-screen TV. Some sets include up to 60 cents' worth of noble metals, therefore recovering gold is only financially feasible for those who want to establish a large-scale firm to do it.
How much of Earth is gold? ›
Gold is siderophilic, and the greatest amounts in meteorites are in the iron phases. Estimates of the gold content of the earth's crust are in the range ~f 0.001 to 0.006 parts per million. This report is one of several that summarize available data on the occurrence of gold.
Is there any gold on Mars? ›
Magnesium, aluminium, titanium, iron, and chromium are relatively common in them. In addition, lithium, cobalt, nickel, copper, zinc, niobium, molybdenum, lanthanum, europium, tungsten, and gold have been found in trace amounts.
How rich is the asteroid belt? ›
A NASA study, which looks further afield, supports that the total value of minerals within the asteroid belt between Mars and Jupiter could be worth an astronomical $700 quintillion.
How much is the asteroid belt worth? ›
Meanwhile, other high-value asteroids exist in the Main Asteroid Belt, which collectively could be valued at $700 quintillion. Of course, even if companies manage to mine celestial bodies successfully, a massive inflow of space-based supplies would send commodity prices on Earth plummeting.
Which asteroid is full of gold? ›
Which planet is rich in gold? Psyche 16, nestled between the orbits of Mars and Jupiter, is made of solid metal. As well as gold, the mysterious object is loaded with heaps of platinum, iron and nikel. In total, it's estimated that Psyche's various metals are worth a gargantuan $11,000 quadrillion.
