Selling gold bars and coins has been one of a major business in the past and is prevalent in the modern age with a full bloom.On the other hand, Greeks used to pay their soldiers with gold coins. Romans started issuing gold coins called Aureus in 50 B.C.
Selling gold bars and coins has been one of a major business in the past and is prevalent in the modern age with a full bloom. Gold and other metals are rendered as great investments for preservation of money because of their great value. Value of gold has not lessened at any time, in the contrary; it has increased tremendously in the current age. Thus the shining metal has been given a great value both as an ornament and a currency. If we trace the history of gold, it becomes clear that China was the first country that legalized small pieces of gold as currency back in 1091 B.C. On the other hand, Greeks used to pay their soldiers with gold coins. Romans started issuing gold coins called Aureus in 50 B.C. It is hence not very formidable to say that gold coins were the currency i.e the buying and selling capacity of people in the ancient ages. From Chinese to Greeks and Romans, gold coins and bars were a regulatory economic factor. In addition to Barter, gold was a standard currency with a good amount of value attached to it.
In 1284 A.D, the Great Britain started the monetary system based on gold and silver coins. The U.S issued gold coins in 1787. The industrial revolution and the advancement in every field after renaissance in Europe led to the discovery of gold widely. This worldwide discovery of gold specially in Brazil and South Africa is significant in this regard. After the Great Depression, most of the countries switched to the paper money from gold currency. Before that till 1933, Gold was the major currency worldwide. Since the ancient times, selling of gold coins was more common mainly because of the easy transport and acceptance in world. Selling gold bars has been for large investors and buyers. In ancient times, traveling was not as easy and gold bars were very heavy a trade to carry to different parts of the word. However, the treasuries of kings in ancient times were flooded with gold bars and gold coins equally.
Trading in Gold coins and gold bars has been seen frequently in ancient times. Gold ingots were gold bars used in trading. It was not until 20th century that gold bars and gold coins were stopped being issued as a currency by Government and instead convertible currency system was introduced. After thatFree Articles, gold price did not remain stable all over the world and differs with different currencies. Now gold bars have become as instrument for holding together the value of gold in one piece regardless of any currency and is a universal instrument.Now gold coins and gold bars are not used as currency but as investments. Gold bars as well as coins have different qualities. Bullion gold bars and coins are used widely by entrepreneurs to preserve gold in exchange of currency. Many economists now consider gold coins and gold bars as instruments of reducing inflation.
