The History of Gold

The History of Gold

Though the gold market is subject to as much volatility as other investments, it remains one of the most popular world-wide. Even casual collectors who are looking to sell their unwanted gold in Chicago can walk away profitable. But where did our fascination with this mineral come from? The history of gold spans across thousands of years and civilizations.

Ancient Civilization

Human fascination with gold dates back as far as 3,000 B.C. Ancient Egyptian priests and Pharaohs held gold in high esteem due to its role in their mythology. They created the first recorded measurement of gold’s value in relation to silver at a ratio of 2.5:1.
Ancient Greeks later used gold to mark social status. Greek citizens used gold as currency. Incans, Aztecs, and other civilizations used gold in their religious ceremonies, and a way to separate the social classes. Gold is even mentioned several times in the Bible.

Gold in the United States

The U.S. congress passed the Mint and Coinage act in 1792, establishing a fixed price of gold in relation to American dollars. Gold became legal currency, with a rate of value against silver that measured 15:1.

In the 1800s, several gold rushes happened across the U.S. People travelled from all over in hopes of striking gold and becoming rich. Over the years the standard value of gold rose and fell. Gold is no longer used to back currency.

Gold Investment Today

Today gold is seen as a smart investment. Many people collect gold as a means of securing their financial future against the rise and fall of the American dollar. Gold investment in modern times became increasingly popular in 2003 as a result of the U.S. invasion of Iraq.

Despite a fall in value in recent years, gold is still seen as a sound investment.

If you are looking to sell unwanted gold in Chicago, contact Chicago Gold Gallery at http://www.chicagogoldgallery.com.

Cathrine Slavik is a seasoned writer with a passion for delivering engaging and informative content in the dynamic world of the Shopping industry. With a keen eye for detail and a flair for storytelling, Cathrine has established herself as a go-to authority for all things related to retail, e-commerce, and consumer trends. Armed with a degree in journalism and years of experience in the field, Cathrine has honed her skills to craft articles and blogs that not only inform but captivate readers. Her writing seamlessly blends industry insights with a conversational tone, making complex topics accessible to a wide audience. From uncovering the latest fashion trends to analyzing the evolution of online shopping, Cathrine's work reflects a deep understanding of the ever-changing landscape of the Shopping industry. Cathrine Slavik's dedication to staying ahead of the curve is evident in her commitment to research and staying abreast of emerging technologies. Whether exploring the impact of new technologies on the retail experience or delving into sustainable shopping practices, Cathrine Slavik is a reliable source for anyone seeking well-researched, thought-provoking content in the realm of Shopping.

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