The History of Gold Bullion

The History of Gold Bullion

Gold has been considered as a precious metal since prehistoric times. Many ancient civilizations believed that gold was in one way or the other affiliated to their gods, for example, ancient civilization believed that gold was flesh or skin of their gods. The atomic symbol of gold Au has its origin from Latin word Aurum meaning “shining dawn”. Besides this, it is affiliated to Aurora also who is the roman goddess of dawn. Since early times gold was treated as a standard for monetary exchange.

In 4000 BC, in what we call Eastern Europe today, began the use of gold to fashion decorative items. By 3000BC, gold had taken form of stylish jewellery. In 1500 BC, in Egypt and other areas, gold was recognised as a standard medium of exchange for gold and international trade.

A gold coin called Shekel became the standard unit of measure in the Middle East. Its weight was equivalent to 11.3 grams. Gold bullion is actually bulk of gold. It is usually in two forms, either bars or coins. This was the initiation of coins. China legalised small squares of gold as a form of money back in 1091 BC. However, the gold coins made up until then were not in their purest form.

They were mixed with other metals like copper and silver. The coins used in Egypt were actually two third gold and one third silver. In 560 BC, purely gold minted coins were made in Lydia, which is a kingdom of Asia Minor. The Roman Empire began issuing gold coins in 50 BC. These gold coins were called Aureus. In 1066 AD, the metallic currency standards were re-established in Great Britain. This era mark the initiation of pounds, shillings, and pence. The first major gold coin introduced by the Great Britain was called the Florin, in 1284 AD. This later was changed into Guinea.

By 1377 AD, Great Britain shifted significantly to a monetary system based on gold and silver. The first United States gold coin struck in 1787 AD. There was a time when United States went on an unofficial gold standard. Silver was eliminated for this purpose. In 1919 AD, during World War 1 many countries stepped down from strict gold standards, these countries include United States and Great Britain.

Americans were also forbidden to own gold in 1961 AD. Owning gold in all aspects was not permitted by the United States later until 1974 AD, after good 13 years. South Africa produced Krugerrand, which was a one-ounce bullion coin. It soon gained popularity amongst several investors worldwide. The famous Canadian Maple Leaf was introduced back in 1979 AD.

A few other countries kept on issuing gold bullion coins, which are still being used as an investment by investors. Even public is recommended by some people to invest as much as possible in gold as its value usually keeps on increasing and the outcomes are certainly beneficial for the investors.

As the history clearly states that gold bullions have been of immense significance since early times, and even with its bumpy ride of various rises and falls, it has still been capable to maintain its desire and worth amongst people.

Jack Wagon is a goldsmith. You can take guidance about gold bullion price and take his advice.

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Selling Gold Bullion

Selling Gold Bullion

There are a number of things a seller should know when selling gold bullion; the spot price of gold is one of them.  Whether selling online or in person, having information about the spot price can be beneficial to an investor. One way having information about the spot price can be beneficial to an investor is it can give them an indicator on if a dealer is giving them a fair price. Also by having information about gold’s spot price it will help an investor determined the amount of profits they’ve gained from a gold investment at a given time. One thing that separates gold bullion from numismatic gold is gold bullion prices are more shaped by the spot price. Most gold bullion coins and bars are usually a little more than the spot price.

One other thing a seller should know when selling gold bullion is the fact that gold coins will more often than not go for a higher amount than gold bars.  A reason for this occurrence is the fact that gold coins are generally more expensive to mint than gold bars, resulting in a higher markup for coins when buying or selling them. Many gold coins may even accumulate numismatic value as they get older. Because of this occurrence it is not uncommon to see older gold coins sell for higher prices than similar newer ones.

One final thing a seller should know when selling gold bullion is what dealers are willing to give them the largest amount of money for their bullion. A seller may know this by researching multiple dealers and seeing which ones are willing to pay the highest price. Selling bullion can be easy yet profitable if done correct. With the information discussed here, any seller will gain some understanding on what aspects they should take into consideration when selling their gold.

A good site to see more on this topic is Selling Gold Bullion, it’s insightful and also informative.

A good site to see more on this topic is Selling Gold Bullion, it’s insightful and also informative.

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Gold Bullion Dealers

Gold Bullion Dealers

One thing that can help a gold coin buyer is becoming familiar with many different gold bullion dealers. By becoming familiar with many different dealers, a buyer will have more choices when purchasing gold. One method that is important is for a buyer to research the reputation of any dealer before conducting business with them.  One way a buyer can do this is by searching any past complaints a customer may have had. If the dealer solved the problem to the best of their ability, they are likely to have the same good business practices again.

Another thing a buyer ought to know when becoming familiar with multiple gold bullion dealers is the packaging and delivery methods of the dealers.  A specific dealer price can be lower than the rest but if the dealer’s packaging and delivery methods are substandard, it is recommended that an investor purchase from a dealer with better standards; even if it results in paying a more expensive price. A next thing a buyer ought to know when becoming familiar with multiple gold bullion dealers is the selection and availability of the gold coins they have for sale. A specific dealer prices can be lower than the rest but if their gold selection is extremely limited; a buyer may not find the coin that they are interested in.

One last thing a buyer ought to know when becoming familiar with multiple gold bullion dealers is the cost of the gold coins. One of the most advantageous benefits of a buyer being familiar with different dealers is the ability to compare their different prices with each other. When comparing their different prices with each other it is crucial to keep in mind any extra costs. Some of these extra costs can be insurance, shipping, minimum order amounts and more. Taking these aspects into consideration can help a buyer to compare prices more easily. Becoming familiar with different dealers will take time and work.  Once a buyer uses the information here, this task can become a whole lot easier.

A good site to see more on this topic is Gold Bullion Dealers, it’s insightful and also informative.

A good site to see more on this topic is Gold Bullion Dealers, it’s insightful and also informative.

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