The History and Significance of Gold in Different Cultures

30
Aug

You might be initially drawn to sources of gold – such as our gold shop in Christchurch – because of this precious metal’s renown as a global store of value and a hedge against inflation. However, while gold investment remains an excellent way to diversify an investment portfolio, not everyone necessarily recognises the depth and breadth of its cultural significance through time.

So, for today’s article at Commonwealth Vault, we’re looking beyond the practical considerations for those buying gold, and instead back across the history of civilisation, to see the profound importance that gold has held for so many cultures.

How Has Gold Been Perceived and Valued Across a Wide Range of Cultures? 

Here’s a snapshot of just some of the ways in which different cultures have held this precious metal in the very highest regard:

  • Ancient Egypt: while nobody knows exactly which group of people discovered gold first, ancient Egypt was one of the first civilisations to mine and use this metal. The brilliance and incorruptibility of gold led to its association with the sun and the concept of immortality.
  • Ancient Greece: it was the ancient Greeks who brought about the first use of gold as currency, with the oldest known coin being the Croeseid. Early gold coins were irregularly shaped, and only one side was stamped. Both Plato and Aristotle wrote about gold.
  • Ancient Rome: as in so many other societies through time, the possession of gold in the Roman Empire signified a lot about an individual’s wealth and social status. The tradition of gold’s use in coinage was refined during this time.
  • The Middle East: for centuries, gold has played a significant role in Middle Eastern culture. Through trade and conquest, gold spread from ancient Egypt to Mesopotamia – modern day Iraq. Fast-forward to the early 20th century, and Dubai was becoming known as an ideal city for gold merchants; it has grown to become one of the largest retail markets for gold today.
  • New Zealand: the first recorded discovery of gold in New Zealand occurred near the town of Coromandel in 1852, when a Tasmanian, Charles Ring, found a small amount at Driving Creek. By the following decade, the “gold rush” times in NZ were officially beginning. Many flocked to goldfields around the country, and the collective value of this yellow metal helped NZ establish itself as a young nation with a thriving economy.

There you have it – just a taster of some of the ways in which this precious metal has embedded itself across the annals of history. Take the time today to discover the highly desirable bars and coins in our gold shop in Christchurch, and you could soon be playing your own small part in that history.