Fool's gold, also known as pyrite, is a mineral ORE composed of iron sulfide. It has a metallic luster and pale brass-yellow hue, which can easily be mistaken for gold. The scientific name for fool's gold is pyrite, which is derived from the Greek word for 'FIRE, ' because it produces sparks when struck with metal. Pyrite is commonly found in sedimentary rocks and is often associated with other sulfides such as chalcopyrite and galena.