Neon was discovered in 1898 in London by William Ramsay and Morris Travers, who found it by fractionally distilling liquefied air, one of a family of new inert gases they isolated in quick succession. The name comes from the Greek neos, new; it is often said that Ramsay's thirteen-year-old son suggested the word novum, which his father adjusted to neon. It is the second-lightest noble gas, colourless and odourless, and utterly unreactive, forming no ordinary compounds. Present in the air only in traces and won by distilling liquefied air, neon is used in high-voltage indicator lamps, in certain lasers and cryogenic refrigeration, and most famously in the glowing discharge tubes of illuminated signs, whose intense orange-red light is its signature. Neon was, gram for gram, among the most expensive substances on Earth when Ramsay and Travers first isolated it, since a huge volume of air yields only a trace; a story often repeated holds that it briefly cost more than gold.
Ramsay received the 1904 Nobel Prize in Chemistry for discovering the noble gases as a family, work he carried out with the physicist Travers over a few frantic weeks in 1898 that also yielded krypton and xenon. Despite the modern association with advertising, the largest single use of neon today is not signage at all but the excimer lasers that print circuit patterns onto silicon wafers, with cryogenic cooling a much smaller share, since liquid neon, though costlier than liquid helium, has over forty times its refrigerating capacity per unit volume.