Period 6 element also dissolves in alkaline solutions of cyanide, which have been used in mining. Gold dissolves in mercury, forming amalgam alloys. Gold is insoluble in nitric acid, which dissolves silver and base metals, a property that has long been used to confirm the presence of gold in items, giving rise to the term "the acid test." Gold has been a valuable and highly sought-after precious metal for coinage, jewelry, and other arts since long before the beginning of recorded history. Gold standards have been a common basis for monetary policies throughout human history, later being supplanted by fiat currency starting in
Acid test (gold) or definitive tests to other materials, became popular during and after the California Gold Rush, but was current before then, as shown by this quote from the Wisconsin paper "The Columbia Reporter", November 1845: "Twenty-four years of service demonstrates his ability "to stand the acid test", as Gibson’s Soap Polish has done for over thirty years." Other examples of the figurative use of the phrase are the web sites Acid1, Acid2 and Acid3, which are designed to test web browsers for compliance with current web standards. Another example is the quick ratio method, nicknamed "acid test", used by financial analysts