The Evolution of Gold as a Commodity

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By mws44

In today's modern era, you would be hard pressed to find someone that doesn't treasure gold. After all, gold is the basis upon which our economy is founded and helps determine the worth of countries around the world. But, has gold always been so important to cultures and civilizations? A look back in time proves that, while many things may have changed over the past thousands of years, gold is one thing that has long been of exceptional monetary importance.


Significant evidence support the fact that gold was extremely important to ancient civilizations.
Significant evidence support the fact that gold was extremely important to ancient civilizations.

Gold in Prehistoric Times

There is a significant amount of data and evidence to support the fact that gold was extremely important to ancient civilizations. In fact, many historians believe it to be the first metal to be valued by humans, though it was used primarily for rituals and ornamentation at this time. Ancient Egyptian hieroglyphs describing the use of gold dating back to 2600 BC have been uncovered and the earliest known map contains plans for an ancient gold mine in Nubia.

Other ancient references to gold can be found in Greek and Roman writings, with the legend of the golden fleece believed to be referring to the fleeces used to trap gold dust at the time. The metal is also mentioned frequently in the Old Testament and again in the New Testament, as it is one of the gifts of the magi described in the chapters of Matthew.


There is no definitive evidence to suggest gold was used as currency in the sense that we use it today.
There is no definitive evidence to suggest gold was used as currency in the sense that we use it today.

Gold Coins are Circulated

Although there is no doubt that a great deal of value was placed on gold during these ancient times, there is no definitive evidence to suggest it was used as currency in the sense that we use it today. During the time of the famous King Midas, however, the world's earliest coinage was first established in Lydia. Historians estimate that this occurred somewhere between 643 and 630 BC. Another gold coin, called the Ying Yuan, was circulated by the Chu in either the 6th or 5th century BCE.

Today, gold remains an important commodity for cultures and civilizations around the world. Although some metals actually cost more than gold, it is still considered to be the most desirable of all of the precious metals. This is largely because it remains the asis on which the value of most currencies is determined. Therefore, many investors have chosen to invest in gold rather than other forms of investment, such as stocks and bonds, as gold is likely to remain valuable for years to come. After all, it has been cherished by civilizations around the world for thousands of years!

In addition to being the basis of currency throughout most of the world, numerous companies also depend upon gold in order to provide goods and services. Jewelers, for example, utilize gold in order to make beautiful pieces for their customers to enjoy. Companies such as Cash4Gold, on the other hand, provide individuals with an opportunity to make money from their gold items by purchasing the items from them. Whether purchasing pieces of jewelry or selling them to places such as Cash4Gold, the metal is truly one that keeps on giving to all who adore it!

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