The Value of Gold Throughout the Ages

The Value of Gold Throughout the Ages

Gold has always been a substance to be revered and reserved for only those who were wealthy and royal. During the Middle Ages, gold was priced at a hefty $3,000 an ounce, about 3 times more than what it is valued at today.

The reason is likely due to the fact that modern technology has allowed people to mine gold much easier today, but there is no doubt that there has been a fascination and love for gold throughout all of history. It’s no wonder that people still get excited to get their hands on Irwins Paydirt and pan out some of their own. Let’s start at the very first discovery of gold to try and understand why it holds so much value.

The Oldest Gold Found in Bulgaria

Most people think that gold got it’s start in ancient Egypt, when really, it was actually first found at a gravesite called Varna Necropolis in modern day Bulgaria. Bulgaria is located in the region of ancient Mesopotamia that was part of The Sumer Civilization. Five thousand years ago, people used gold to make jewelry and headdresses. This doesn’t sound far off from it’s used for today.

Gold as God in Egypt

Fast forward to the time between 2,600-1,500 B.C. in Egypt. The Egyptians were the first ones to actually mine for gold, which is probably why they had so much of it and were such a prosperous civilization. The Egyptians believed that gold was indestructible and divine. Much in their culture refers to gold, the value they put on it, and why they believed it was so special.

The Egyptians would use gold to adorn themselves in jewelry, they would use it on coffins, they would build their statues of gods out of it, and they would bury their pharaohs with loads of it. Gold was associated with the sun-the very elixir of life. Today people have a much different view, but the outright worship of the metal hasn’t stopped.

Gold as Money in Rome

Rome was the city that was the epicenter of trade and entrepreneurship. All roads led to Rome, and Rome was the say-all-end-all on matters of life and death. Gold was used as a currency for trade, and the Romans also mined for gold which gave them practically endless currency and resources through which to made their agenda realized.

Rome was the first place that had a treasury in which gold coins were made and supervised by the Senate. The reason coins exist today is due to this development in Rome thousands of years ago.

Many think that gold has held such power for centuries because it is rare and one of the most durable substances out there. It is hard to say for certain why history has such a connection, but it proves to still be in effect today. Nobody knows if gold will hold it’s value forever. There are thoughts that one day people will discover how to manufacture gold. At that point, all matters of currency might implode and the world will be forced to find a new method by which to trade.

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