Gold Bullion - Eternal Standard of Wealth

Gold is the oldest precious metal known to man.and has a long and complex history. From gold’s first discovery, it has symbolized wealth and guaranteed power. Homer, in the "Iliad" and "Odyssey," makes mention of gold as the glory of the immortals and a sign of wealth among ordinary humans. In Genesis 2:10-12, we learn of the river Pison out of Eden, and "the land of Havilah, where there is gold: and the gold of that land is good." The oldest worked-gold objects, the products of the ancient Thracian civilization, were made as early as 4000 BC, and were discovered at a burial site in Varna, Bulgaria. In 3100 B.C. we have evidence of a gold-to-silver value ratio in the code of Menes, the founder of the first Egyptian dynasty. In this code it is stated that "one part of gold is equal to two and one half parts of silver in value." This is our earliest of a value relationship between gold and silver. The oldest pieces of gold jewelry Egyptian jewelry were found in the tomb of Queen Zer and that of Queen Pu-abi of Ur in Sumeria and are the oldest examples found of any kind of jewelry in a find from the third millennium BC.

During the frontier days of the United States news of the discovery of gold in a region could result in thousands of new settlers, many risking their lives to find gold. Gold rushes occurred in many of the Western States, the most famous occuring in California at Sutter’s Mill in 1848. Elsewhere, gold rushes happened in Australia in 1851, South Africa in 1884 and in Canada in 1897. The rise of a gold standard was meant to stabilize the global economy, dictating that a nation must limit its issued currency to the amount of gold it held in reserve. Great Brittain was the first to adopt the gold standard in 1821, followed, in the 1870s, by the rest of Europe followed. The system remained in effect until the end of the first world war, after which the US was the only country still honoring the Gold Standard. After the war, other countries were allowed to keep reserves of major currencies instead of gold. The arrival of the great depression marked the end of the U.S. export of gold in the 1930s. 

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