History Of Gold Bullion

Written by admin on October 31, 2008 – 3:24 pm -

Gold has been considered as a expensive metal since antediluvian times. prehistoric civilizations believed that gold was in one way or the other affiliated to their gods, for example, primeval civilization believed that gold was flesh or skin of their gods. The atomic sign of gold Au has its derivation from Latin word Aurum meaning "shining dawn". Moreover this, it is allied to Aurora also who is the roman goddess of dawn. Since early times gold was treated as a standard for monetary exchange.

In 4000 BC, in what we call Eastern Europe today, began the use of gold to adorn decorative objects. By 3000BC, gold had taken form of fashionable trinkets. In 1500 BC, in Egypt and other areas, gold was recognised as a standard medium of exchange for gold and global trade. A gold coin called Shekel became the yardstick unit of calculation in the Middle East. Its weight was equivalent to 11.3 grams.

Gold bullion is actually bulk of gold. It is generally in two forms, either bars or coins. This was the inauguration of coins. China legalised small squares of gold as a form of currency back in 1091 BC. Nonetheless, the gold coins made up until then were not in their purest form. They were mixed with other metals like copper and silver. The coins used in Egypt were in fact two third gold and one third silver.

In 560 BC, purely gold minted coins were made in Lydia, which is a territory of Asia Minor. The Roman Empire began issuing gold coins in 50 BC. These gold coins were called Aureus. In 1066 AD, the metallic coinage standards were re-established in Great Britain. This era mark the commencement of pounds, shillings, and pence. The first main gold coin pioneered by the Great Britain was called the Florin, in 1284 AD. This later was changed into Guinea.

By 1377 AD, Great Britain shifted considerably to a financial scheme based on gold and silver. The first United States gold coin struck in 1787 AD. There was a time when United States went on an unendorsed gold standard. Silver was eradicated for this rationale. In 1919 AD, during World War 1 many countries stepped down from austere gold standards, these countries comprise United States and Great Britain. Americans were also prohibited to own gold in 1961 AD. Owning gold in all features was not allowed by the United States later until 1974 AD, after good 13 years. South Africa produced Krugerrand, which was a one-ounce gold coin. It soon gained reputation amongst many investors worldwide.

The famous Canadian Maple Leaf was introduced back in 1979 AD. A few other countries kept on issuing gold bullion coins, which are still being used as an investment by investors. Even public is recommended by some people to invest as much as possible in gold as its value usually keeps on increasing and the outcomes are certainly beneficial for the investors. As the history clearly states that gold bullions have been of immense worth since early times, and even with its bumpy ride of sereval rises and falls, it has still been competent to sustain its desire and merit amongst people. Jack Wagon is a goldsmith. You can take guidance about gold bullion price and take his advice.

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American Buffalo Gold Coins Are Sold Out

Written by admin on October 17, 2008 – 9:01 pm -

Oct 17th, 2008 -- The mighty buffalo may have made a comeback on the Great Plains, but he no longer roams the halls of the U.S. Mint. Much as the beasts were overhunted by frontiersmen, gold buffalo coins have been pushed to the edge of extinction by gold hoarders.

The U.S. Mint is temporarily halting sales of its American Buffalo 24-carat gold one-ounce bullion coin because "inventories have been depleted," Mint spokesman Michael White said yesterday. The coin, based on a 1913 design, was released in 2006.

The Mint cannot keep up with demand from panicky investors looking for something -- anything -- that seems safe during the current market crisis. Auric Goldfinger would be proud.

Through Wednesday, the Mint had sold 164,000 24-carat gold coins this year, which is nearly 30,000 more than during all of 2007.

The price of gold has risen in recent weeks. Gold for December delivery on the New York Mercantile Exchange jumped temporarily above $920 per ounce yesterday, as concerns rose over the stalled $700 billion Wall Street bailout bill, fueling fears of a further stock market drop. The precious metal closed at $888.50 yesterday.

On the Mint's Web site, the coin sold for $800 before it was taken off the market.

The Mint had to suspend sales of its American Eagle one-ounce gold coins Aug. 15, restarting sales later in the month under an allocation program. The Mint will soon do the same for its buffalo coins. As soon as it mints more.

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2008 American Buffalo 24 Karat Gold Coins

Written by admin on February 6, 2008 – 8:59 pm -

The U.S. Mint has released the freshly minted 2008 American Buffalo 24 karat gold bullion coins. The 2008 American Buffalo gold coins are minted in the purest 99.99% solid gold and contain a full troy ounce of the precious metal.

Official Specifications:

• Gem Brilliant Uncirculated Gold - By law, each American Buffalo Gold Coin must contain one troy ounce of 24 Karat gold. These lustrous Buffalo gold coins rank among the highest quality, purest gold coins you can own.

• History Making Design - The American Buffalo gold coins have exceptionally beautiful designs and are distinguished by their unique background detailing and full strikes. The classic design of the American Buffalo on one side, and an Indian Head on the other, is sure to be a winner. Each coin is legal tender and bears a $50 face value with 1 OZ, .9999 Fine Gold, Liberty, E Pluribus Unum, and In God We Trust in scripted on the coin.

• Unmatched Quality - We expect a high demand from coin collectors for the 2008 date. Since its inception, the American Buffalo series was carefully created to combine timeless elegance with uncompromising quality in coinage production.

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