A Fast Look At The History Of Gold Coins
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Gold coins are amongst those rare items that have always been ascribed a high monetary value from their earliest creation. The use of gold as currency can be dated back to the distant time when Sumer was a thriving civilization. During these early times the gold was measured in ingots and was generally circulated amongst the priesthood or the rulers of the day.
The general public did not have free access to this means of trade. Western Turkey was the first location in which gold coins were first struck, as far back as the 6th century. The craftsmen of the day created an alloy from silver, electrum and gold and imprinted a seal on one side of the coin, with the image of a bull or a lion on the reverse side.
The ease of using minted coins as a method of barter and trade grew in popularity as the concept spread to other regions and countries. Once the concept reached the Roman Empire its popularity rose dramatically and the Romans took to minting their own coins. The aureus depicted the Roman emperors profile on the coin and this form of tender was used to pay the wages of Roman soldiers each month. The gold coins were still only largely in use by the affluent sector of society, namely traders, merchants and other people in powerful administrative positions.
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.
If you flip the coin over you will find a stunning design which depicts an eagle, wings outstretched, bearing an olive branch in its beak. It is swooping down towards a nest where its mate is presumably seated upon a clutch of eggs. Created in 1986, no fewer than thirteen million of these coins have been minted and are currently in worldwide circulation.
The highest quality gold is used, at . 916 fine, or 22 carat gold. From 1986 until the year 1991 traditional Roman numerals were used to depict the date of production on all minted coins. After 1991, however the Roman numerals were swapped out for Arabic numerals as a new way to mark the date of the coins. The coins are regarded as perfectly legal tender in the United States and have an estimated face value of $50.
Article Source: Articlelogy.com
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