Did you know there are actually 6 different types of gold standard? These are: All are significant in the history of gold. You often hear people mention the gold standard. Perhaps you even throw that term around yourself from time to time. It’s helpful to know the nuances of each if you ever enter into […]
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In 211BC the silver denarius became the dominant monetary unit of the Roman Republic. In 211BC the denarius had a silver content of 4.5g with 95% fineness. By the time the it had finished its decline the silver content of the denarius was a mere 2%. The silver content of a Roman denarius depends on
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Key Takeaways The silver shekel is the most ancient form of precious metal money in recorded history. Its origins lie in Ancient Sumer where it was a reserve currency and a standard pricing measure. The silver shekel is also mentioned in the Book of Genesis as a measure of weight. So on both accounts it’s
If you have ever held a Roman denarius in your hand, you’ve touched a significant piece of the monetary history of silver. The silver denarius is the coin that once powered what is arguably the world’s greatest empires and is one of the most famous silver coins in history. But how much is a Roman denarius
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Key Takeaways Silver certificates are a historic form of currency in the United States, issued between 1878 and 1965. Originally able to be exchanged for silver bullion, they are still legal tender, but can no longer be converted into the precious metal. Today, silver certificates are likely to have a collectible value that far exceeds
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Bimetallism is a monetary system where both gold and silver are money, and the critical thing is the ratio between the two. Before we had the fiat standard, we had the gold standard. And before we had the gold standard, we had bimetallism. It is an ancient monetary system that continued until relatively recently. It
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No one can definitively say exactly how much gold was confiscated in 1933 as no record was ever kept. However, SD Bullion has run the numbers and estimates that 2,665 tonnes was confiscated. They arrived at this figure by looking at how much gold was melted down by the government between 1933 and 1939. When
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The yellow metal’s early history wasn’t in gold coins but in big lumps of uncoined metal. Various forms of commodity money had been used up to that point but gold emerged as the superior option. However in its uncoined form, trade using gold as money was inefficient as merchants had to assess the weight and
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World history has certainly served up some beautiful gold coins. Gold became money because it was scare, malleable, durable, portable, divisible and fungible. Beauty wasn’t one of the requirements, but nevertheless it certainly helps gold’s timeless appeal. I must admit, my bias is towards the modern coins. I love the ancient coins for their history
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The longest lasting fiat currency in history is the Great British Pound. The pound dates back to 928, making it the oldest currency still in use, although it has only been a fully fledged fiat currency since 1971. Initially defined as a weight of silver, the pound became a fiat currency briefly in 1745 due
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