Since ancient times, no other substance on earth as been so desired, fought over, revered or mythologized as gold. Gold has long been equated with power and beauty in virtually every culture. Gold was written about in the biblical Book of Genesis, Greek sage and writer Homer warned of its allure, and it’s perhaps the metal universally accepted as a form of wealth, long before the first coins were ever minted.
Mythical tales have pass down from generation to generation surrounding gold. Greedy King Midas, whose curse included everything he touched turning to gold, even his own beloved daughter! Jason and the Argonauts searched for the fabled Golden Fleece against Herculean odds. A mythical tale but rooted in reality. Ancient miners used a sheep’s fleece as a type of sieve to capture the tiny, but heavy flakes of gold found in water. After the fleece dried, it was gently shaken and the ‘gold dust’ flakes were collected. Primitive but still effective, because some miners in the California gold rush of 1849 used the same method.
Ancient writings prove that cultures as diverse as the Romans, Chinese, Egyptians and Incas coveted gold enough to send slaves, criminals and war prisoners to unearth more of this precious metal. At first gold was mostly used for jewelry and ceremonial purposes in everything from serving bowls to lampstands. It wasn’t until 700 BC that the Mediterranean kingdom of Lydia actually stuck a coin. Because of it’s lustrous beauty, scarcity and a unique density that makes it easy to melt and shape, that gold became the standard for coinage. It was a natural trading medium. Instead of bringing a cow to market, the farmer could now sell the cow for a couple of gold coins in his pocket and buy whatever he desired. Some historians say that gold coins gave rise to the very concept of money itself: portable, private, and permanent.
Up until the early 20th century most countries relied on gold as the key ingredient that backed their paper currency. With the hyperinflation that followed World War 1, gold ownership became necessary for survival. In 1923, German citizens who depended on their paper money, the Mark, needed a wheelbarrow of notes to purchase a loaf of bread. But families with gold coins had no trouble buying food and the other necessities. Ten years later in America, to help stabilize the monetary system, President Franklin Roosevelt confiscated all privately held gold in the United States. From 1933 to until the ban was lifted in 1974, the only Americans who could own gold were coin collectors.
Since reinstating private ownership, gold’s value has continued to rise to from $20 to over $1,300 an ounce. Even beyond that, our investment quality rare gold “collectible” coins by Mint State Gold have produced even better results. Savvy collectors and investors have earned tremendous profits thousands of times over while they helped protect their savings and their families from inflation and dollar depreciation. Speak to a Mint State Gold representative today to get your piece of history by investing in gold coins.
