History Of Gold

The first recorded history of Gold was in 4000 BC an account which stated that in early Eastern European cultures, they’ve mined and made gold in shapes used as decorative objects. These initial discoveries were in the form of golden nuggets found in their rivers and streams. Many of the ancient civilizations all over the world, from the Babylonians to the Egyptians and the Romans, have all recorded history of gold use which meant that the use of this metal had spread far and wide and it isn’t an isolated incident that caused it’s popularity.

The luster and beauty emanating from this metal have made it a very powerful symbol for us humans. Early archaeological findings have found statues and relics made of pure gold where in studies have shown to be symbols that show their worship to their Gods. The value set on this metal was very high because they weren’t only used as decorations and items to show loyalty to their gods, but, it also dressed their Kings and Queens with very beautiful jewelry made from handcrafted gold with details so fine and relatively exemplary craftsmanship. They were able to do such things because of the metal’s ductile and malleable properties which enabled them to process the metal into any form they’d like.

A much more economic use of gold started during the Roman Empire when the first semblance of currency (gold as money) was initiated. This was an effort to mine gold much more extensively by digging it underground with early technologies like the long tom and hydraulics that made it faster and easier to mine gold. It led to the first ever gold coin called Aureus. These were used to gain lands and as a form of currency during those times because of it’s value all over Europe. It was in the 13th Century that the gold coin had been already established to have an extrinsic value through the Florin of Britain. These coins had different versions and names all as a symbol of their kings power and vision for his kingdom. This was because they controlled the mint that produced them which translated into their control over the currency used in the kingdom as well. It marked the start of an economy using gold as money.

During these modern times, gold is no longer the money being used for transactions; rather, it fuels economy through the currencies being highly dependent on the gold reserves that a country has. This sprung from the gold standard that the Americans had institutionalized which means that fixed exchange rates were set so that notes would be based from them. It led to the creation of the gold bullions that marks an investment made by a country or person and its value would depend on the current rate for gold per ounce which would be equivalent to dollar valuation. This was adopted all over the world and still continues today. The changes have been constant through the progress that was made, but, it is clear the gold is a vital part of human life, especially, now in our economy.

References:

http://www.onlygold.com/tutorialpages/historyfs.htm http://www.nma.org/pdf/gold/gold_history.pdf

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