A Short Look At The Past Of Gold Coins

By: Eric McMillan

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.

The minting of coins evolved over time and the popularity of this means of currency led to the premium for gold coinage being set by Sir Isaac Newton, the then Master of the Mint, in 1717. During the 18th century as many as three or four million guineas were minted annually.

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.

The reverse side of the gold coin is a stunning depiction of a magnificent eagle, swooping in to land in the nest bearing an olive branch, where its mate awaits it. Over thirteen million of these beautiful coins have been created since they were first introduced to the public in 1986.

The quality of the gold used in creating these coins is quite high, measured at 22 karats or alternatively . 916 fine. The coins minted from 1986 up until 1991 were marked with Roman numerals to depict their date of production, but after 1991 Arabic numerals have been used to define the dates on the coins. The coins remain legal tender and have an estimated face value of $50.

Article Source: http://yourfinance.co.za

About The Author
Eric McMillan is an ex real estate guy, who now markets online and is a coin collecting fanatic. Go to his site for more great info on gold coins. While you're there, pick a complimentary copy of his Guide to Gold And Silver Coins.