A Brief History of Gold

Since the beginning of recorded history, gold has been one of the most highly valued and sought-after precious metals. Gold is used in coins, jewelry, art, and even electronics equipment. This relatively soft metal can be pounded into extra-thin gold leaf or formed into rings, coins, and medallions. If you’ve ever wondered how gold became so valuable, keep reading this article:

Gold

Early History

Scholars believe that gold was used by cultures in what is now Eastern Europe as long ago as 4000 B.C. People used gold to fashion objects for decorations, and eventually started using gold for many different styles of jewelry. The Ancient Egyptians buried kings with gold, some of which has been unearthed by modern archeologists. Because the land on which Egypt sat was rich with gold, the nation became wealthy and gold was soon recognized as the standard for monetary exchange. In 1091 B.C., small gold squares became legalized in China as a form of money.

Middle Ages

As civilizations evolved, gold continued to gain importance for rulers and their countries. Rulers who had gold controlled large parts of their regions and sought new ways to obtain more of this precious metal. Around the end of the 13th century, gold coins were introduced in Venice and Great Britain. In 1377, Great Britain changed its monetary system to be based on gold and silver. As authorities sent explorers to the Western Hemisphere, they were encouraged to find as much gold as they could.

Modern Times

As of 1990, the U.S. is the world’s second largest gold-producing nation. Connoisseurs and collectors alike still prize gold jewelry, coins, and artwork for its luster, beauty, and intrinsic value. The history of gold dates back many thousands of years, but its value and desirability have never changed.

If you have gold coins or jewelry you are thinking of selling, call Coins of the Realm at (301) 637-6220. We are the most trusted gold dealers in the greater Gaithersburg area, and we offer expert appraisals and competitive prices.

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