There is no evidence to suggest that there was a discoverer of fools' gold. Fools' gold is a name given to pyrite, which is a naturally occurring mineral that somewhat resembles gold in its shiny, metallic appearance. Although pyrite is commonly referred to as "fools' gold," it has been known and recognized for its true identity (iron disulfide) for centuries, and its association with the term "fool's gold" is used to convey its deceptive appearance.