Gold has proven itself to be the best form of real money throughout the ages, for as long as civilization has been on the planet Earth. However, many people still do not know the true value of gold even to this day.
Value over time
Gold was used heavily in trades stretching back to 5000 years ago, much like money today. Buying gold coins have been regarded highly and treasured because of its luster as well as its scarcity. It became the most common exchange platform for many centuries by nations who traded. Today, investors can demand the gold standard according to their own requirements as there is always a great demand for this shiny metal. Gold has set itself as the world’s monetary system foundation.
History
In 1795 after President George Washington first authorized gold to be minted in Philadelphia, Pennsylvania; the first gold coins surfaced. The value of these new gold coins was that of the intrinsic value of the gold at their face value. There was no more and no less of its worth; meaning, a US ten dollar Eagle gold coin was worth ten American dollars in weight and content. It was one of the main pieces of US coinage denomination during the 18th century.
Trade capability
The US government moved on to make gold coin trading easy for all individuals and financial agencies such as banks by creating more denominations; smaller denominations than the $10 Eagle gold coin like the Quarter Eagle ($2.50) and the $5 Eagle gold coin. These coins began to flow into the daily trade of individuals in the US and quickly moved on to international trades. It was possible because gold was widely recognized and trusted by all as an exchange medium even though the coins were minted in the U.S. All traders, local or international, could understand and appreciate the importance of gold in the context of these US minted gold coins which was not dependent on any nation or individual’s promise of redemption.
It was a very established trade platform for many centuries, even after paper money came along. The presence of paper money did not disrupt gold’s worth as was evidenced during America’s Civil War where gold took over the Greenback as the medium of trade. It was a simple preference of gold over the greenback as the medium of trade because gold has been present much longer than the Greenback.
As there were more people who trusted gold more than the Greenback, it was only natural to have gold established as the world’s preferred medium of exchange or trade in the financial system throughout the ages.
Value over time
Gold was used heavily in trades stretching back to 5000 years ago, much like money today. Buying gold coins have been regarded highly and treasured because of its luster as well as its scarcity. It became the most common exchange platform for many centuries by nations who traded. Today, investors can demand the gold standard according to their own requirements as there is always a great demand for this shiny metal. Gold has set itself as the world’s monetary system foundation.
History
In 1795 after President George Washington first authorized gold to be minted in Philadelphia, Pennsylvania; the first gold coins surfaced. The value of these new gold coins was that of the intrinsic value of the gold at their face value. There was no more and no less of its worth; meaning, a US ten dollar Eagle gold coin was worth ten American dollars in weight and content. It was one of the main pieces of US coinage denomination during the 18th century.
Trade capability
The US government moved on to make gold coin trading easy for all individuals and financial agencies such as banks by creating more denominations; smaller denominations than the $10 Eagle gold coin like the Quarter Eagle ($2.50) and the $5 Eagle gold coin. These coins began to flow into the daily trade of individuals in the US and quickly moved on to international trades. It was possible because gold was widely recognized and trusted by all as an exchange medium even though the coins were minted in the U.S. All traders, local or international, could understand and appreciate the importance of gold in the context of these US minted gold coins which was not dependent on any nation or individual’s promise of redemption.
It was a very established trade platform for many centuries, even after paper money came along. The presence of paper money did not disrupt gold’s worth as was evidenced during America’s Civil War where gold took over the Greenback as the medium of trade. It was a simple preference of gold over the greenback as the medium of trade because gold has been present much longer than the Greenback.
As there were more people who trusted gold more than the Greenback, it was only natural to have gold established as the world’s preferred medium of exchange or trade in the financial system throughout the ages.
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