GOLD & SILVER COINS
Through the Ages
A Brief History
As the first true mass-produced models of currency, gold and silver coins have for centuries been highly sought-after items that span world civilizations. From Bronze Age commerce to the Morgan Dollars and collectibles seen in the US, gold and silver coins have long been a symbol of history, wealth, and prominence.
The silver coin was born into ancient Greek prosperity and flourished in the exclusivity of Alexander the Great’s empire, however, once the Greeks were dominated by the kingdom of Macedonia, silver scattered and dispersed across other countries such as Egypt and throughout Central Asia.
Rough gold coins have been used in commerce since the Bronze Age in Near East civilizations from the Caucasus to Mesopotamia, however, it wasn’t until the 6th century BCE that proper gold coins appeared in Anatolia under the reign of King Croesus. Gold has remained the standard for payment and trade through the Middle Ages into the modern age the world over ever since.
While precious metals were used as currency through the Roman, Byzantine, and Ottoman Empires, the Spanish Dollar and Mexican 8 Reales were by far the most sought-after World silver crowns from the 16th through 19th century. Minted through many parts of the world to facilitate trade, silver coins became the most trendy and powerful influence of international relations.
While the Holy Roman Empire’s Guldens were the standard for some time, German gold marks were introduced in the latter part of the 19th century throughout the German Empire, quickly replacing their Roman counterparts. It wasn’t until the early 20th century that gold coins fell into disuse as a primary means of payment after mass hoarding during the Great Depression. Although most of the world had moved away from the gold standard by the 1930s, the United States didn’t completely uncouple itself from gold until 1971.
Downfall & Resurgence
Silver coins, while also intrinsically valuable began to suffer a similar fate. By the 1960s, silver coins were too expensive to be used as an alloy for mass circulation. World governments cut their silver coin budgets and the precious metal was relegated to commemorative status.
Gold coin value can be determined by many factors, including age, rarity, condition, original number minted, etc. After President Roosevelt issued Executive Order 6102 forbidding the hoarding of gold, many coins were melted down, instantly creating a higher value for anyone who dares defy The Squire of Hyde Park.
Coins As Collectibles
The first commemorative silver coins, minted in the 1960s, were intended to pay homage to the Old World Crowns, using a similar weight and size. Modern silver bullion coins were introduced in 1980, measuring from 39 mm to 42 mm in diameter, with 1 troy ounce of pure silver in each coin, regardless of purity.
While it was put on the back burner for mass circulation to the public, we remember gold and silver coins as our reliable worldly companion throughout the centuries. As precious metals, gold and silver can be coined from bars or melted down into bars again, or carved into whatever shape you wish without destroying value. Since neither is subject to gross decay, you can count on gold and silver to always appear youthful and fresh-faced for decades to come. Finally, due to its scarcity today, the value of gold and silver coins remains stable, and an investment in high intrinsic value is never a bad idea.
Establishing Value in Gold & Silver Coins
Whether you believe Chicken Little and think the sky is falling, that the dollar is on the brink of collapse, or you’re just a regular Joe who understands the benefit of investing in commodities, putting at least some of your cash behind gold & silver coins is never a bad idea. Gold & Silver Coins are often used as a hedge against economic turmoil and inflation, as its value is generally very stable. The value of gold and silver coins can be determined using very simple tests right here in Pawngo’s lab to determine weight and purity. Age and rarity are also taken into account when deciding on the value for gold & silver coins.
Best Practices for Pawning Your Gold & Silver Coins
With Pawngo, getting the highest value for your gold & silver coins is easier than ever. Gold & Silver Coins, while a generally stable market, can still fluctuate. Pawngo will make sure you get fair market price for your gold & silver coins. The entire process is fully insured and with our secure facility, you can be sure that your items are safe and sound for whenever you decide you’d like them returned. Your loan terms are up to you and you can repeat the loan as often as you’d like. Click the button above to Get Started Now!