On Not Being a Sign: Gold’s Semiotic Claims

Abstract

In this essay I examine gold’s semiotic claims in the context of perceptions of gold in global financial markets, beginning with an intriguing parallel drawn by my informants between gold and Bitcoin. I make several interrelated arguments: (1) that in a variety of cultural contexts, gold has become a site for a very particular semiotic claim—that of not signifying at all; (2) that in the contemporary instance of physical gold in relation to other assets based on gold, this is expressed in an attention to gold’s material, tactile qualities (represented both iconically and indexically), and its extrasocial character; (3) that similar claims are made for Bitcoin, often drawing on a “digital metallism,” and idiom of gold; and (4) that the self-reflexive semiotic properties of gold have a long and diverse cultural history. In concluding, I speculate on how gold’s particular semiotic stance reflects one possible articulation of nature and convention as sources of meaning.