The Phrase Finder states the obvious that “Not everything that is shiny and superficially attractive is valuable.”  Shakespeare used the original expression “all that glisters is not gold” in The Merchant of Venice dated 1596. Forms of the expression have been around since at least as early as the twelfth century. Some purists insist that the expression is not accurate unless “glisters” is used. However, in the opinion of the Phrase Finder, there is no argument since “glisters” and “glitters” have the same meaning.