Precious Metals

Apple strikes gold collecting old iPhones

More than 2,000 pounds of gold were recovered from damaged or broken iPhones in 2015, according to an Apple environmental report.

Image courtesy of NCHANT/ iStock Photos

1. Golden Apple

In a recent environmental report from the tech juggernaut Apple, it was discovered that roughly $40 million in scrap gold was recovered from damaged or broken iPhones during fiscal year 2015, CNN Money reports.

"Gold is used in consumer electronics because it is highly averse to corrosion and an excellent conductor of electricity," CNN reports. "Silver is actually the best conductor, but it corrodes easily. Copper is super-cheap, but it moves electrons too slowly for some of the most important computing tasks."

According to CNN, of the 90 million pounds of e-waste that was collected by Apple last year, 61 million of it was deemed reusable. 

Read more for a breakdown of what happens to the roughly 1.2 million recycled phones.

2. Golden Apollo 

A myth explaining the location of a temple for Greek mythology's Apollo is referenced on a stater coin from the fifth to fourth century B.C., estimated to sell for $20,000 in an upcoming auction. 

Our World Coin Guy, Senior Editor Jeff Starck, has more:

"The coin, issued in Kyzikos, in Mysia, shows ... eagles standing on the stone on the obverse, with the tunny fish (tuna) appearing below because it is the badge of the city. This scene was frequently represented in vase paintings, but is extremely rare on coinage, according to the auction house."

The history behind this coin ...

3. New notes down under 

Australia's first denomination in a new series of bank notes is revealed. 

The new wave of notes, which arrives in circulation on Sept. 1, will feature enhanced security measures, and each denomination will portray a different native bird. 

Some folks, however, aren't so happy with the updated notes.

4. Connect with Coin World: 

5.  Precious metals pricing lists the following prices per ounce Monday at 12:04 p.m. ET:

  • Gold: $1,230.85
  • Silver: $17.01

6. Hot topics

Check out three interesting stories from the last couple of days:

  1. Counterfeiting a rare Canadian coin issue: Detecting Counterfeits
  2. Jewish-American Hall of Fame medal honors TV pioneer
  3. Star Wars sage Yoda appears on new coins

7. Something social 

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