Gold coins are extremely beautiful items and collecting them goes back to when coins were first issued in pre-Roman Europe. However, it was only in the Middle Ages that the hoarding of gold coins became a leisure pursuit amongst the aristocracy and merchants who could afford to save such valuable items for their beauty and historical importance alone.
Coin collecting in general is still a very popular hobby enjoyed by millions of people of all ages. School children all over the world have small collections of overseas coins. Later, that hobby might expand into collecting coins from one’s own country. For example, it is easier and less expensive to collect a cent or penny from every year in the 20th Century in your own country than a foreign country.
This higher level of collecting coins can later become an expensive hobby once one has started working and has more money to spend. One might choose to concentrate on collecting gold coins from a particular period or of a certain denomination. Dollar and sovereign coins are very popular in this regard.
In the USA, gold coins were in distribution from 1838 to 1933. The first design was the Liberty Head Bust but this was changed in 1907 to the Indian Head and Saint Gaudens motifs, which were used until 1933. The problems presented by the Great Depression caused gold coins to be recalled to be melted down. This made them rarer and therefore more valuable.
In the United Kingdom and other parts of Europe, gold was used for coins from before the birth of Christ and many examples of these Roman and Celtic gold coins still exist today. Gold is no longer used as currency in Europe either, although in the UK, a gold sovereign is still worth one pound. The motif on the reverse is George and the Dragon, while the reigning monarch’s head is on the obverse
South Africa minted its first gold coin named the Krugerrand in 1967. The Krugerrand has no face value because it was not intended to be used as currency. It is made of one ounce of pure gold and is usually purchased solely for investment reasons. Since then other countries have also issued bullion or investment coins. For instance, Canada manufactured the Gold Maple Leaf in 1979 and Australia made the Nugget in 1981.
In the days of the Gold Standard, countries promised to match the value of their currency with the amount of gold they held in reserve. That meant that if a country printed paper money without buying more gold to back it, the value of the paper currency would fall in relation to foreign currencies.
Different countries came off the Gold Standard at slightly different time, but most of them dropped the standard in or around 1971.
Collecting gold coins is a first-rate pastime, but it ought not really be seen as an investment, because old gold coins carry a premium to the value of gold within them. This value is sentiment and that can change quickly. If you want to collect gold coins all well and good, but if you want to buy gold for an investment, then buy bullion coins or bars.
Owen Jones, the writer of this piece, writes on many subjects, but is currently involved with Clogau Welsh gold. If you have an interest in wedding rings too, please go to our website now at White Gold Claddagh Ring
Events From January Ten Years Ago
February 11th, 2010I was looking through a history book and it was going on about memorable events of ten years ago, but I had forgotten most of them. I have picked out some of the events of exactly ten years ago this month – January, in a word. So here are a few things that you may or probably will not remember from January 2000.
1 – on his first day as interim president, Vladimir Putin departed to visit Russian troops in Chechnya.
4 – President Clinton recommends Alan Greenspan to a fourth four year term as Chairman of the Federal Reserve.
5 – President Clinton rules that Elian Gonzalez, a six year old Cuban boy who survived the capsizing of a refugee boat, should be returned to his father in Cuba.
6 – much of Miami is shut down by hundreds of Cuban-Americans protesting the Gonzalez decision. – the S.E.C reports that most partners of Price, Waterhouse, Coopers, the world’s largest accounting firm, contravened regulations requiring that they may not hold shares in firms that they audit. Five partners were fired.
7 – Vice Pres. Al Gore back-tracks on his promise to ensure that all new appointees to the Joint Chiefs of Staff were sympathetic to permitting gays to serve openly in the military.
8 – AOL announces a merger with Time Warner for $165 billion: the world’s biggest ever.
11 – the British government rules that General Pinochet is medically unfit to stand trial for suspected crimes against humanity in Chile during his presidency.
13 – executives at the nation’s leading drugs companies say they want to work with Clinton to institute Medicare coverage for prescription drugs this year.
15 – Arkan, the notorious Serbian paramilitary leader was shot dead in a hotel lobby in Belgrade.
18 – Helmut Kohl resigns as honorary Christian Democratic Party chairman over suggestions of corruption from within the party.
24 – the Supreme Court rules that laws limiting political donations to $1,000 in Missouri are constitutional.
25 – the Congressional Budget Office reports that the flood of tax revenues resulting from the exceptionally strong economy will last for ten years.
26 – ‘The New York Times’ informs that U.S investigators have unveiled links between a group of Algerians charged with plotting a terrorist attack in the U.S. and Osama Bin Laden, the exiled Saudi accused of bombing two American embassies.
31 – Republican Gov. George Ryan of Illinois halts all executions in the state citing a disgraceful record of convicting innocent people and putting them on death row. – top officials n the C.I.A. are accused of blocking an internal investigation into indications that the agency’s past director, John M. Deutsch, mishandled secret information.
Owen Jones, the writer of this article, writes on many topics, but is currently involved with custom wall calendars If you have an interest in calendars, organizers or promotional calendars, please visit our website now at Promotional Desk Calendars
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