The History Of Gold 
As Money

Pure Gold is so soft and malleable that a strong man can squeeze it and shape it.  Therefore, gold could be used by artisans around the world for as far back as time can tell.  Finding a buyer of your gold was as simple as finding an artisan, a goldsmith, or a pawn broker. 

By: Dean Brown

.
 Turning Gold Into Money

Gold is one of the most dynamic elements of the modern economy and some might find it funny that the oldest form of valuing physical commodities is still thriving today. The first gold coins were produced in 700 BC and since then the precious metal has been used as the primary exchange element. The fact that gold was scarce and highly valued made it the perfect means of exchange, regardless of what the exchanged items were. The history of gold turning into money spans over a period of 2600 years and the turning point in gold s history is the year 1971.

How Did Gold Become Paper?

Throughout history, gold and silver coins went through a process of debauching. Such coins began to be created out of gold and other metals, thus making the values of the actual coinage fluctuate in time. The process of turning physical gold into money began when goldsmiths, who used to store gold for other society members for a fee, started to issue receipts for their storage. The receipts idea spread quickly as it was more convenient than carrying the actual metal with them, so people began to get accustomed to the idea of paper money. Goldsmiths gradually turned into bankers and the currency evolutionary process continued developing.
You can make a fortune with gold, the world's most famous precious metal.  

Dean Brown is the Author of "A Guide To Investing in Gold", an e-book dedicated to helping you understand that gold is still an essential part of any investment portfolio. 

Black Gold and Other Fancy Colors Of Gold -   Black gold, blue gold, purple gold and many other colors of gold. Are these really gold? Is such co...

How Can You Tell If Your Gold Jewelry Is Real? -   * Tips For Buying Gold 1. Buy from someone you know or with a solid reputation. 2. Look for a store ...

To get more details and enroll in Dean's free mini-course on Gold Investing, go to http://www.goldinvestingbook.com


Be Your Own Banker!

Money you are already spending can make you rich,
provide a stable income over your whole lifetime
and still leave a legacy worth millions of dollars for your heirs. 

 Why Did The Gold Window Close?

The 15th of August 1971 is the day when the Gold window was closed by the American president Richard Nixon. From that moment on, paper money could no longer be converted to gold, a fact that took the precious metal out of currency exchanges. In order to understand why the situation with gold in the economy reached this point, let s travel back in time to the moment when bankers saw the opportunity of replacing metal with paper money. Since they had the power of issuing the receipts for gold, bankers thought of producing more receipts than the amount of gold they held. But, as you would expect, this practice also became popular and bankers soon started lending these receipts to the early governments and to the monarchs of the epoch.

New Acts And Regulations Concerning The Use Of Gold

England was the country where bankers created the first central bank. The main purpose of such a bank was to lend money to monarchs, but it also served as protection for those bankers who issued more money than they could redeem in gold. However, it became obvious that this practice had a negative impact on the country s economy. This lead to the apparition of the Peel s Bank Act , which stated that banks are not allowed to issue more paper money than the gold they actually had in reserves. Thus, the importance of gold as a decisive factor in the global economy remained high all throughout modern financial history.

What Do You Know About Modern Gold?

An interesting evolution of gold prices began in 1934, when gold was priced at $ 20. In the period until 1971, the gold price remained around $35. However, with the changes that occurred in the global economy, gold prices reached $300 and they remained above or very near this threshold. Various factors in the geopolitical world had their influences on the evolution of modern gold prices.

Life's most important lessons are amazingly varied and can be quite confusing.  
Even so, they most all have two things in common. First, they usually are not 
particularly complicated. It certainly can sometimes take a while to get it; but 
once you do get it, the lesson is normally straight-up and to the point. Second, 
and here is the rub, the lessons invariably are a "So now you tell me!" kind of thing. 

 Can Gold 
Be Controlled?

Do you ever think about gold when you are going to work or while shopping? Even though our modern society perceives gold more as a fashion item, nations still rely on the power of the precious metal in order to keep their economies balanced. We might not see gold in stores, while paying our taxes, or while taking credits from a bank, but it is an element profoundly involved in all these actions. It is fair to say that, throughout human history, we were often the ones being controlled by this precious metal, and not vice versa, as most people believe.

the end

About the Author: Dean Brown is the Author of "A Guide To Investing in Gold", 
an e-book dedicated to helping people understand that gold is an essential part of 
any investment portfolio. To get more details and enroll in Dean's free mini-course 
on Gold Investing, go to http://www.goldinvestingbook.com

 

Hand Picked Essays

The current tax code is a labyrinth of over nine million pages of indecipherable jargon only a federal bureaucrat could fully appreciate. So is there anything we can do about this monstrosity?  You bet. Click HERE and read about the Fair Tax Revolution.  

Golden Rules For Making Money by P. T. BarnumIn the United States, where we have more land than people, it is not at all difficult for persons in good health to make money. In this comparatively new field there are so many avenues of success open, so many vocations which are not crowded, that any person of either sex who is willing, at least for the time being, to engage in any respectable occupation that offers, may find lucrative employment.  

The History of Gold, as Money  Gold is one of the most dynamic elements of the modern economy and some might find it funny that the oldest form of valuing physical commodities is still thriving today. The first gold coins were produced in 700 BC and since then the precious metal has been used as the primary exchange element. 

The One Dollar Bill reveals what the dollar was meant to be backed up with.

A Tale of Two Cents  -- The history and future of the Lincoln Penny, by Keith Scott  Please RIGHT CLICK.

The Typology of Financial Scandals.  Can you recognize a scam?

Is your money SAFE in the bank?  Miracles happen daily inside banks, but so does sleight of hand.

The Value of Money explains why we are always broke.

The IMF  

The Moon on Six Pence Uncle Bob was an unforgettable character who traveled the world on bargain rates and golden smiles!

There are MORE  Hand-Picked Essays
in the following categories

Personal  *  Family  *  Inspirational  *  Helpful  *  Social  *  War  *  Freedom

Click HERE for our latest news.

We want MORE Essays.  The writing inside the essays accepted here must be of superior quality.  The topics must be either timely or enduring in nature.  If you can pass that hurdle, your tightly written essays with strong values will be published here free of charge.  A link back to your home page, or to your email address will be provided inside your byline, IF you want it.  Click HERE to make your submission
.

Make SURE you are getting the best protection you need for the money you are now spending on insurance. First, check out your own company with our direct insurance linksThere may be many special offers available from it that you don't even know about.  

Then -- if you need to -- Compare what you are paying now with the family-friendly values we find. See if the savings don't average 46% better than what you expect -- in ANY of these categories Strong Health Insurance  * Bright Smiles Dental Insurance  *  Comprehensive Auto Insurance  *  Low Cost Life Insurance  *  Solid Home Insurance  *  Loving Long Term Care Insurance  *  Best Family Friendly Insurance Quotes 

Our process is simple; 

it's quick, it's painless -- and yes!  
It's absolutely FREE! 

This is a navigational menu tool.  Click anywhere to find a new and exciting exit to something we have that is wild and wonderful.