It is not possible to know what human was the first to discover the precious yellow element in nature and what he or she thought of it. The ancient Egyptians and Sumerians may have been the first to make gold into small ingots and wire, but this was not for trade, but for gift giving. This was five millennia ago. This was not really gold investing, but it was a start.
Archaeologists say that the Egyptians and Sumerians of five centuries ago crafted small ingots and fine wire of this precious metal that they apparently used only as gifts, not as currency. King Croesus was the first ruler who had precious metal coins struck in the sixth century BC.
The next to take up coinage were the Greek city-states, and there to Macedonia. From there Alexander the Great spread coinage throughout his vast military empire. Soon coinage was widespread throughout the Old World.
For the past 2,500 years this precious medium has been the king of commerce and investing. World War I changed things. This war was so expensive that several of the European nations needed to call in the gold held by its citizens in order to keep fighting.
By 1933, the United States was in the midst of a banking crisis and as part of the means of trying to get the economy on a sound footing, the President called in their gold, paying $20.67 per ounce. As soon as the confiscation was completed, he ordered the dollar be tied to this element at $35 per ounce. This was a 40 percent devaluation of the dollar.
In the United States, private citizens were not allowed to own this precious metal from 1933 until 1974. There was an exemption for coins that had a recognized special value to collectors of rare and unusual coins, however.
Collectibles could not be taken from owners because the government would need to value them individually, which was a practical impossibility. This was because the Eminent Domain clause of the Constitution states that private property cannot be taken for public use without just compensation.
Investors today like to hold this precious element for several reasons. Many feel that it is an excellent hedge against inflation and against a declining currency. In 1933, the price was $35 per ounce. Consider its price price today and think about it.
During times of political and social volatility this precious metal is seen as a safe haven investment. As a commodity its price reacts to supply and demand. It is a store of value, which means that it holds value at times when the value of stocks and other instruments can reach zero. It can be a diversification in a personal portfolio.
A current and timely topic relates to government deficit financing. Certain monetary and financial experts are predicting inflation to become a market force very soon. It certainly could be the right time to consider gold investing as part of your future.
Archaeologists say that the Egyptians and Sumerians of five centuries ago crafted small ingots and fine wire of this precious metal that they apparently used only as gifts, not as currency. King Croesus was the first ruler who had precious metal coins struck in the sixth century BC.
The next to take up coinage were the Greek city-states, and there to Macedonia. From there Alexander the Great spread coinage throughout his vast military empire. Soon coinage was widespread throughout the Old World.
For the past 2,500 years this precious medium has been the king of commerce and investing. World War I changed things. This war was so expensive that several of the European nations needed to call in the gold held by its citizens in order to keep fighting.
By 1933, the United States was in the midst of a banking crisis and as part of the means of trying to get the economy on a sound footing, the President called in their gold, paying $20.67 per ounce. As soon as the confiscation was completed, he ordered the dollar be tied to this element at $35 per ounce. This was a 40 percent devaluation of the dollar.
In the United States, private citizens were not allowed to own this precious metal from 1933 until 1974. There was an exemption for coins that had a recognized special value to collectors of rare and unusual coins, however.
Collectibles could not be taken from owners because the government would need to value them individually, which was a practical impossibility. This was because the Eminent Domain clause of the Constitution states that private property cannot be taken for public use without just compensation.
Investors today like to hold this precious element for several reasons. Many feel that it is an excellent hedge against inflation and against a declining currency. In 1933, the price was $35 per ounce. Consider its price price today and think about it.
During times of political and social volatility this precious metal is seen as a safe haven investment. As a commodity its price reacts to supply and demand. It is a store of value, which means that it holds value at times when the value of stocks and other instruments can reach zero. It can be a diversification in a personal portfolio.
A current and timely topic relates to government deficit financing. Certain monetary and financial experts are predicting inflation to become a market force very soon. It certainly could be the right time to consider gold investing as part of your future.
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Learning details about gold investment for beginners is critical prior to putting cash into an investment fund. Learn more details about the subject by visiting the website at http://www.goldinvestmentguide.org/gold-investing/gold-investment-for-beginners.html now.
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