Gold coins are amongst those rare items that have always been ascribed a high monetary value from their earliest creation. The use of gold as currency can be dated back to the distant time when Sumer was a thriving civilization. During these early times the gold was measured in ingots and was generally circulated amongst the priesthood or the rulers of the day.
It was not available for use by the general public of the time. The very first gold coins were struck during the 6th century in what is known today as Western Turkey. They were a mix of various alloys, including gold, silver and electrum and bore stamp marks, usually a regal animal like a lion or powerful bull on one side and a seal on the other side.
The ease of using minted coins as a method of barter and trade grew in popularity as the concept spread to other regions and countries. Once the concept reached the Roman Empire its popularity rose dramatically and the Romans took to minting their own coins. The aureus depicted the Roman emperors profile on the coin and this form of tender was used to pay the wages of Roman soldiers each month. The gold coins were still only largely in use by the affluent sector of society, namely traders, merchants and other people in powerful administrative positions.
The ever- growing popularity of minted gold finally led to the creation of the gold premium finally being set in 1717 by none other than Sir Isaac Newton who was the appointed Master of the Mint. Over the next century more than three million guineas were produced at the mint each year.
Today gold coins have become an investment and the gold eagle coins minted by the United States are particularly popular amongst investors. These 1 oz gold eagle coins are also miniature works of art. The obverse side of the coin showing a depiction of lady liberty herself in replication of Augustus St. Gaudens design, which dates back to the early years of the 20th century.
Turn the coin over and it will reveal the image of a majestic eagle bearing an olive branch in its beak as it swoops in to land in the nest occupied by its mate. This coin was first produced in 1986 and to date there are more than thirteen million of these coins now in circulation.
The quality of the gold used in creating these coins is quite high, measured at 22 karats or alternatively . 916 fine. The coins minted from 1986 up until 1991 were marked with Roman numerals to depict their date of production, but after 1991 Arabic numerals have been used to define the dates on the coins. The coins remain legal tender and have an estimated face value of $50.
Eric McMillan is an ex real estate guy, who now markets on the internet and is a coin collecting enthusiast. Go to his site for more good info on gold coins. While you're there, pick a complimentary copy of his Guide to Gold And Silver Coins.
