A Brief Look At The History Of Gold Coins
Gold coins became highly prized means of trade and have traditionally been associated with wealth and affluence since they were first introduced into the monetary system. Sumer was one of the first thriving early civilizations to deal extensively in gold currency. The earliest form of gold currency was in the form of ingots rather than coins, which were circulated amongst the temple elders and the wealthy rulers of the time.
It was not available for use by the general public of the time. The very first gold coins were struck during the 6th century in what is known today as Western Turkey. They were a mix of various alloys, including gold, silver and electrum and bore stamp marks, usually a regal animal like a lion or powerful bull on one side and a seal on the other side.
The popularity of the minted coin soon spread and the Roman Empire took to minting coins with the emperors head depicted on their gold aureus coins. These were paid to Roman soldiers and were mostly used by traders, administrators, rulers and affluent landowners of the time.
Over the passing centuries the coin became a standard means of trade and this eventually led to a premium being set as far back as the year 1717. This was done by Sir Isaac Newton, who was the appointed Master of the Mint at that time. After the standard was set in excess of four million guineas were minted annually during the 18th century.
The gold eagle coins that are annually minted in large quantities in the United States have come to be viewed as a clever investment by many. They have never been more popular amongst investors than what they are today. These beautiful 1 oz gold eagle coins are exquisitely crafted items that depict, on one side, lady liberty marching from the coins surface. This image pays homage to the design created by Augustus St. Gaudens in the 20th century.
Turn the coin over and it will reveal the image of a majestic eagle bearing an olive branch in its beak as it swoops in to land in the nest occupied by its mate. This coin was first produced in 1986 and to date there are more than thirteen million of these coins now in circulation.
These coins are crafted from the finest quality gold, 22 karats or an equivalent . 916 purity rating. Roman numerals were traditionally used to depict dates on all coins minted from the years 1986 to 1991. This changed after 1991 and since then all coins have been minted to depict dates using Arabic numerals instead. Each coin has a face value of $50 and is to be regarded as legal tender in the United States of America.
Article Source: FxTradingStock.com
About the Author
Eric McMillan is an ex real estate guy, who now markets online and is a coin collecting enthusiast. Visit his site for more good info on gold coins. While you're there, pick a free copy of his Guide to Gold And Silver Coins.
by: Eric McMillan
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Word Count: 461
Date: Fri, 1 Oct 2010
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