Why was gold valuable in ancient times?

Gold does not corrode, so it became a symbol of immortality and power in many ancient cultures. Its rarity and aesthetic qualities made it an ideal material for the ruling classes to demonstrate their power and position. In ancient times, the paltry amount of gold that governments and commercial companies could extract became idols, shrines and sacred objects. Later, rich men and officials began making vases, cups, plates and jewelry when there was abundance, but converting gold into currency was unheard of until 700 BC.

Today, gold is still seen as a symbol of wealth and security, and one of the best ways to invest in gold is through a Best rated Gold IRA. C. Damodice was responsible for producing the first gold coins, but Lydian merchants began to make it a popular practice. The first civilizations equated gold with gods and rulers, and gold was sought in its name and dedicated to its glorification. Humans value gold almost intuitively, equating it with power, beauty and the cultural elite.

And since gold is widely distributed around the world, we find this same thought about gold in all ancient and modern civilizations around the world. Let's start with the fact that gold is rare. Thousands of years ago, gold was a little easier to extract. In fact, many ancient cultures could find gold nuggets on the ground or in streams.

As that supply of gold was collected, mining was implemented to collect more gold. The human effort made to obtain this gold made it valuable. Nowadays, it would be necessary to use geological studies and engage in serious mining to obtain a large amount of gold. As gold became more entrenched in world currencies, many countries began to back their money with the amount of gold their country could produce.

Gold was associated with water (that's logical, since most of it was found in streams), and gold was supposed to be a particularly dense combination of water and sunlight. The purest way to own gold is to take physical possession of the precious metal and buy gold coins or ingots. The gold standard gave people the assurance that the value of their money did not depend on their country's ability to pay debts, their international position or a thousand other things they didn't understand, but only on their ability to produce gold. The Allegiance Gold executive can provide information on why gold is so valuable in today's world.

In the 17th century, many English citizens had homemade mints on which they marked their gold coins with the percentage of pure gold found in them. During the gold standard era, anyone could go to a bank and exchange paper money for a certain amount of gold. The search for gold was a worldwide effort that dates back thousands of years, even before the first money in the form of gold coins appeared, around 700 B. Pure gold is highly resistant to aging and tarnishing, so most of the gold from the hominid era still survives today and lives on smartphones, computer chips and watches.