Since the earliest times of civilization gold has been the pursuit of kings, emperors and the rich alike as a symbol of their power, glory and splendour. Gold enshrined the Thrones, Crowns, Sceptres and other royal attire of rajas, rulers and tsars alike. Pharaohs even carried the glitter to their graves. As early as 1000 BC King Solomon sent his navy across the world in search of the precious metal to adorn his temple and his 500 concubines. It is not surprising to see these ambitious great men and women to have their symbol of trade, power and gods on gold. Hence the birth of gold coins as early as 500 BC in Greece, followed by the Romans and Persians.
Rome accumulated great wealth in gold through its conquests, including the vast deposits of the Iberian Peninsula, formerly held by Carthage. But like the Greeks, the Romans held most of their gold in reserve and struck gold coins only in emergencies. The first Roman gold coin was struck in 215 B.C. to help finance the Second Punic War against Carthage. Julius Caesar’s Aureus was the first Roman gold coin not struck out of necessity, and made circulating gold coinage more common. In the first century A.D., Emperor Nero further expanded gold coinage by continuing to strike an aureus and adding a gold Quinarius, which was half the value of an aureus. Both coins used almost pure gold and were issued in large quantities.
Gold coins continued to go through various debasements and reforms over the next 200 to 300 years in Rome, but they continued to enjoy widespread circulation in the Roman Empire and found their way to other lands through trade. After the empire was split, its eastern faction, the Byzantine Empire, continued to supply Europe with gold coins as the metal became scarce in Western Europe.
The Kushan kings of India around 100 to 300 AD were the first to adopt Greek style coinage in India and on their coins were depicted the first mortal image of Buddha (Bodoo) and probably the first image of Shiva and Nandi, that too on gold.
In the modern era the rush for gold changed the demography of the world. The discovery of gold nuggets in the Sacramento Valley in early 1848 sparked the Gold Rush, arguably one of the most significant events to shape American history during the first half of the 19th century. By a cruel hand of fate the Mexicans without knowing had signed off their land rich in gold to the Americans in the treaty of Guadelupe Hidalgo on February 2, 1848. Nine days later these Mexicans were being treated as foreign prospectors in a land that was their own. As news spread of the discovery, thousands of prospective gold miners travelled by land and sea to San Francisco and the surrounding area; by the end of 1849, the non-native population of the California territory had risen to 100,000 (compared with the pre-1848 figure of less than 1,000). A total of $2 billion worth of precious metal was extracted from the area during the Gold Rush, which peaked in 1852.
Thousands of miles apart Australia found its gold in the mid-19th century. The Australian gold rushes brought about significant immigration of workers, both more locally and from overseas, to areas which had discoveries of gold deposits. A number of gold finds occurred in Australia prior to 1851, but only the gold found from 1851 onwards created gold rushes when gold found its way into the poor prospectors who became rich.
Gold coins became a yard stick of wealth of European colonial powers particularly in the 18th to 19th centuries and are sought after by collectors. Today these gold coins are prestigious objects in private collections and Museums.
Gold Coins from Antiques International