History of Gold
As early as 5000BC, man probably used prisoners of war, slaves and convicts to obtain their gold; using stream placers, then panning and sluicing what was collected. Fire-setting may have split up the hard quartz veins that they discovered, if they were not able to break them up with stone hammers, antler picks, or bone shovels. The gold was then formed into ornaments, sacred relics or amulets.
When people learned to make bronze by combining copper with tin, they were able to create advanced weapons and every day objects. Gold was not yet used for money. Rather, it was worn, decorated with and used for religious objects. The few early uses gold had were restricted to only the pharaohs. For these reasons it was relatively abundant during ancient times in Egypt and the Near East compared to after it became a monetary source.
The Bronze Age marked the beginning of Pharaonic rule and the time period of the earliest mummies. Gold was a mark of power, wealth and spiritual eminence in early Egyptian civilizations. In 1352 B.C., the Egyptians put the deceased young Pharaoh Tutankhamen into a gold human-shaped sarcophagus, which they placed in a pyramid rich with golden adornments. Explorers discovered his tomb in 1922 A.D., along with the 2,448 lb. gold coffin, and hundreds of golden treasures, including a golden mask which would become the well-known symbol for “King Tut”.
Coins originated around 643-630 B.C. in the Kingdom of Lydia, now western Turkey. These first monies were made of electrum, which is a naturally occurring alloy consisting of 3/4 gold and 1/4 silver. It was King Croesus of Lydia who created the first coins of pure silver and gold almost a hundred years later. Not only did he circulate these new coins, but also had his royal stamp on each one to guarantee their weight and purity. Coinage quickly extended throughout the island and city states of Western Greece.
The Greek were the first to use coins as means for propagating news and information. Because of their value, sturdiness and wide circulation they made the perfect ancient medium to broadcast important political messages. The decadrachm was one such coin that proclaimed Greece’s triumph in the Persian wars.
From 336-323 B.C., Alexander the Great’s conquests spread coinage throughout the known world. Hellenistic coins were struck depicting images of current rulers on the front and usually state symbols on back. These rulers and other wealthy citizens were also fond of small golden objects as is evidenced by the many artifacts have been recovered by modern archaeologists.
The Romans followed the Greek practice of casting coins to spread political propaganda, as well as the Hellenistic tradition of glorifying their rulers’ images and accomplishments. Usurpers to the throne would first need to create coins declaring their new rule and bribe an army to proclaim it before actually attempting to take over. If it were not for coins recording such events, many of these events would remain unknown to this day.
The monetary stability brought about by Constantine the Great contributed greatly to the success of the Byzantine Empire. His creation of the gold Solidus became the standard gold coin issued for nearly 1000 years; its weight and fineness of gold remaining consistent throughout that time period.
Christian symbolism influenced the imagery of coins struck during the Middle Ages, as well as the continuation of monarch portrayals. The addition of a cross on top of a globe represented the ruler's position as leader of both, church and state. The flying god of victory, Nike, was transformed into an angel.
The passion for gold prompted the discovery of America in 1492. After discovering that the natives of Haiti possessed gold nuggets, Columbus sought royal funding for multiple voyages in search of the elusive metal. In his own words: “Oh, most excellent gold! Who has gold has a treasure (that) even helps souls to paradise.”
Columbus found no success in his untiring quests for gold, but he fueled the way for future treasure hunters to follow. The most historically notable being the Spaniards whose pursuit prompted the conquests of Mexico and South America. The ruthless destruction of the Aztec and Incan civilizations by Hernando Cortes and Francisco Pizarro eventually served to pave the way for America colonization.
Gold was the driving force behind the settlement of the US, drawing half a million westward in less than a decade. The California gold rush began after the 1848 discovery of gold nuggets on a Sacramento farm. The rest is history.
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