History of gold can be traced as far back as 2600 BC where gold is described in the hieroglyphs of ancient Egyptians. Initially prized for its beauty, by 1500 BC gold had become recognized as an instrument of value. By 550 BC according to the World Gold Council’s history of gold web page, gold was being mined in ancient Greece and later turned up among the spoils of war. Ancient Romans improved on mining techniques, conquered and extended their gold mining regions, and by 50 BC were minting gold coins which were used to pay Rome’s soldiers and debts. However, gold coins can be traced as far back as the 5-6th centuries BC with the earliest coins minted in Lydia (now part of Turkey) and in the Chu state (China).
Gold’s history throughout the Middle Ages indicates gold’s growing use as currency. Venice’s gold Ducat and Great Britain’s gold Florin were both introduced in 1284. During the period between 1400 and 1800, the history of gold is defined by its role in spurring exploration and discoveries in the new world. Indeed, while gold deposits were still being uncovered in the old world, by 1720 Brazil had become the world’s largest gold producer. The first US gold coin was introduced in 1784, though the metal itself wasn’t discovered in the United States until 15 years later.
During the 1800’s the history of gold is characterized by new discoveries leading to gold rushes in North Carolina, California, Colorado, Australia and South Africa. South Africa accounts for 40% of all the gold ever mined. Throughout the next centuries, the use of gold in industry, medicine, electronics, science, art, adornment and as a symbol of achievement would grow. The gold standard which pegged the value of a country’s currency to its stored gold reserves was adopted by the US in 1900, but as the amount of gold production decreased in relation to the growth of nation’s economies, the gold standard was abandoned to the annals of the history of gold.
References:
http://www.goldipedia.gold.org/history_and_culture/ancient_world/ – World Gold Council – History and Culture
http://en.wikipedia.org/wiki/Gold – Gold
www.nma.org/pdf/gold/gold_history.pdf – National Mining Association