History of Gold

Third Millennium B.C. - The oldest known pieces of gold jewelry are created in Egypt, as evidenced by their presence in the tomb of Queen Zer and that of Queen Pu-abi of Ur in Sumeria.  Archaeological digs suggest the use of Gold begins here in the Middle East, the home of the first known civilizations.

2,600 B.C. - Egyptian Hieroglyphs describe gold, as a divine and indestructible metal.

Second Millennium B.C. - Tutankhamen is entombed with the largest collection of gold and jewelry found undisturbed by modern archeologists.  Included in the tomb are artifacts which exhibit the advanced Egyptian goldworking craftsmanship of the time.

650 B.C. - Gold is used in the first money, electrum, minted in the Lydian Kingdom in western Asia Minor.

561-546 B.C. - Lydian King Croesus introduces a monetary system based on coins of gold and silver.

550 B.C. - The Greeks start mining for gold throughout the Mediterranean and Middle East, believing gold is a derivative of a dense combination of water and sunlight.

325 B.C. - The Greeks have completed mining in areas from Gibraltar to Asia Minor and Egypt, and will soon begin practicing alchemy.

50 B.C. - The widely used Aureus Roman gold coin is issued.  This occurs eight years after Julius Caesar brings back enough gold from Gaul to give 200 coins to each of his soldiers, and repay all of Rome’s debts.

Third Century A.D. - The Romans wear necklaces containing coins with the image of their emperor.

Seventh Century A.D. - The Persian Empire uses gold in religious artwork.

1284 - Venice issues the gold Ducat, which will become the most popular coin in the world for over five hundred years. In the same year, Great Britain also issues its first major gold coin – the Florin.

1377 - Great Britain shifts to a monetary system based on gold and silver.

1511 - King Ferdinand of Spain makes his famous call to action: “Get gold, humanely if you can, but all hazards, get gold”, launching massive expeditions to the newly discovered lands of the Western Hemisphere.

1700 - Gold is discovered in Brazil, which  becomes its largest producer by 1720, responsible for nearly two-thirds of the world’s gold output. Also in 1700, Isaac Newton, Great Britain's Master of the Mint, fixed the price of gold in Great Britain at 84 shillings, 11.5 pence per troy ounce.

1784 - The first US gold coin is struck by goldsmith, Ephraim Brasher.

1792 - The Coinage Act defines the dollar and places the U.S. on a bimetallic silver-gold standard. 

1799 - The United States first discovers gold in the form of a 17-pound nugget in Cabarrus County, North Carolina.

1821 - Great Britain becomes the first country to adopt the gold standard.

1848 - Gold is discovered at Sutter's Mill; the California Gold Rush begins.

1851 - The Australian Gold Rush begins.

1870s - Europe and the United States adopt the gold standard.

1884 - The South African Gold Rush begins.

1897 - The Canadian Gold Rush begins.

1914 - European countries abandon the gold standard in favor of other major currency reserves to finance World War I.

1933 - President Roosavelt (FDR) signs executive order requiring U.S. citizens to turn in their gold.

1934 - The Gold Act of 1934 abolishes the right of U.S. Citizens to exchange paper currency for gold.

Mid 20th Century - The U.S. dollar replaces gold in international trade.

1971 - The U.S. under president Nixon abandons the gold standard, resulting in the current financial system called the ‘floating currency' system.

1975 - After 42 years, Americans again gain the right to own gold bullion.

1986 - The American Eagle Bullion program was launched with the sale of gold and silver bullion coins. Independently certified gold coins are introduced to the marketplace. These third party grading companies guarantee authenticity and quality for the gold coins they place into sealed plastic holders. This procedure aids the gold coin buyer in creating a national trading marketplace for certified gold coins.

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For nearly half a century, H.S. Perlin Co., Inc. has provided tangible gold holdings for our clients.  We are a firm focused on gaining your trust and satisfaction by personalizing investment plans to best meet your current and future financial circumstances.  Our principal mission is to create wealth protection strategies through the placement of a percentage of your wealth in gold.