When was the last time you held a piece of gold? Did you realize the simple metal is a significant part of history? In fact, there are a wide range of events where gold changed history. We will examine a few gold events that had significant impact on humans and the planet alike.
The First Gold Coins
Although we might like to think gold coins as a modern invention, it is not. Actually, the first gold coins were made in 560 BC. Gold was instrumental in changing the system of trade into a system of currency. Before the creation of gold coins, the barter system was the primary means of trade.
Gold later became the Roman Standard means of commerce during the 1st century. Later, other cultures adopted the gold standard of commerce and until the 1930s, it was still used in the US with every piece of United States currency backed by actual gold.
California Gold Rush
A sale at our favorite department store can have us running to the shop faster than anything else these days, but that’s nothing compared to the California Gold Rush. During this time, gold was on everyone’s mind and if you could make a claim, you could strike it rich.
The year was 1848 and everyone that had a covered wagon and the will to drive on was headed to California. It was actually the California Gold Rush that attributed to California becoming a state. The influx of new residents put emphasis on the need for the United States to recognize California as a true state.
Higher Than Average Gold Prices in 2011
The economic downturn of 2008 was felt in financial markets throughout the world, but the aftermath of the crisis began to bring gold prices up considerably. By 2011, gold prices were significantly higher than anyone thought possible. Gold buying was all the rage during this period of time and people were looking to purchase gold from any resource. Gold was and is still thought of as a sound investment due to its stabilizing ability even in volatile economic times.
Emerging Markets During the 21st Century
Countries that have invested in gold have been remarkably successful in commerce. The United States holds rank of the largest gold reserve, but Germany, Italy, and France are right behind them. Although these countries tend to have the most gold reserves, emerging markets have come to light in the 21st century. New investments from countries such as India and China have advanced the gold industry to new heights and been instrumental in supplying a new form of stable revenue to these economies.
Gold is and always will be a part of our history. This precious metal is far more than just a pretty ring or a stunning bracelet. Gold’s economic impact can be seen throughout various historic events. Gold is a sound investment for a variety of reasons and people have not chased after it for generations for nothing. If you have yet to invest in gold, now is the time.
