Since the invention of currency, people have sought ways to store their wealth in objects that are durable and more easily transportable. Gold has been a historical favourite for this purpose due to its natural scarcity and beauty, whilst Silver & Platinum have never been seen in the same light, their uses are becoming increasingly obvious as well.
But what is the history behind bullion – the precious metals used for currency & applied science? How has technology shaped the way we use it today?
This article will explore the history behind bullion as a form of currency storage, as well as how new technologies are making it easier to access than ever before. By looking at trends over time, we can gain insight into where this industry is headed in 2023 and beyond.
The term ‘bullion’ originates from Claude De Bullion, the French Minister of Finance during Louis XIII’s reign. Bullion refers to coins, bars or ingots made of gold, silver, platinum and other valuable metals, which were commonly exchanged in the trading area.
Golden Beginning’s
Gold has been a valuable commodity since ancient times, though its specific value and uses have varied throughout history. Gold’s lustrous color, malleability, and resistance to corrosion and oxidation have made it a popular material for jewellery, coinage, artwork, and other uses.
Archaeologists have found evidence of gold being used as early as 3000 & possibly up to 4000 BC in Ancient Egypt—it was mined and used by the pharaohs to decorate tombs and sculptures.
Throughout ancient civilizations such as Greece and Rome, gold was highly sought after due to its scarcity and associated symbolism with wealth, power and status. Roman coins were often struck from pure gold or silver, while gold coins also spread across Europe during the Middle Ages.
As the demand grew over time, international trade systems developed to support exchange between countries. Eventually large-scale gold reserves were created by governments in order to ensure that their currencies had stability.
Gold also played an important role in the development of financial markets over centuries—for example it was essential for setting up London’s first stock exchange which began trading in 1773.
Golden Purpose
In addition to its use as currency, gold has also been used for a variety of other purposes throughout history. It was heavily utilized in electronics due its good conducting properties from the mid-20th century through today.
It continues being in demand due its luster factor for decorative applications across cultures worldwide such as art pieces, jewelry making etc.. Gold is still also held by central banks as part of their asset holdings as we head into 2023 and beyond!
Gold has been regarded as valuable since before written records began; ancient civilizations used gold to make coins and jewelry, and it was viewed by many as a symbol of power. Over centuries, governments established official gold standards for their currencies, but in recent decades these restrictions have been lifted and technological advances have enabled easier access to physical gold bullion holdings.
Golden Standard
Although the first significant use of gold as a form of currency can be traced back to the ancient Egyptians, who used it to make coins and jewellery. Gold was also used by the Greeks and Romans, and eventually became the basis for many world currencies.
During the Middle Ages, gold coins were widely circulated in Europe, while in China paper money backed by silver was introduced.
In 1717, Britain adopted a gold standard for its currency, which meant that all paper money had to be backed by an equivalent amount of gold held in reserve. This system was adopted by many other countries, and remained in place until the late 20th century.
Since then, technological advances have enabled easier access to gold bullion holdings. Gold ETF’s (Exchange Traded Funds) were introduced in 2003, allowing investors to buy and sell gold without actually owning it. This made it much easier for people to invest in gold without having to store or transport physical bullion.
Although this seems more convenient, without a physical holding of bullion, do you even own it? And what happens if the market crashes and your ETF’s suddenly disappear?
A Golden Future
Looking ahead to 2023, we can expect to see further advances in technology that will make it even easier for people to access gold bullion. This could include the development of new platforms that allow users to buy and sell gold in a secure, transparent manner.
We may also see the emergence of new ways to store gold, such as digital wallets or even physical vaults .
The history of gold bullion as a form of currency storage has been long and varied, but one thing is certain: it will continue to be an important part of the global economy for years to come.
With new technologies making it easier than ever to access gold bullion, it is likely that this trend will only continue in 2023 and beyond.
Golden Years
In the coming years, we can also expect to see an increase in the use of gold as a form of payment. This could include the development of new payment systems that are based on blockchain technology and allow users to pay for goods and services with gold.
Additionally, more companies may start offering gold-backed debit cards, which would enable people to spend their gold holdings directly.
Finally, it is likely that gold will continue to be used as a hedge against inflation, as it has been for centuries. As the global economy continues to evolve, gold bullion will remain an important part of our financial system.
Silver Centuries
Silver is one of the oldest and most widely used metals in civilizations around the world. Its use can be traced back to 3500 B.C. where it was mined in Asia and Europe. Silver has been used for jewelry, ornaments, coins, artwork, and utensils from antiquity to modern times, with some pieces dating back over 5000 years ago.
In Ancient Greece and Rome, silver became a marker of wealth, with even wealthy farmers such as Pliny’s reporting having small amounts of it on their land.
It also had significant religious significance in these periods with silver attributed to gods like Apollo and Diana by Greek worshippers in addition to being a material associated with higher deities generally across Greco-Roman cultures.
In some cases purity restrictions were put into place dictating what percentage of silver an object should embody or how far it could be combined with gold before becoming unacceptable as currency material or ornamental mediums, indicating its importance and influence at the time.
Silver Movement
Silver made its way eastward when it was brought to India during the first millennium BC by nomadic tribes that were bringing newly introduced forms of craftsmanship enabling them to work it into intricate designs for jewelry, religious ceremonial ornamentation and coins which soon started circulating around the country in abundance.
As time went on the presence of silver became more widespread throughout Europe due to trade between different cultures along routes including the famous Silk Road which connected East Asian empires like China who incorporated silver into their artworks.
This trend would spread once again further Westwards via colonizing merchants reaching regions such as Mexico, where silver was heavily mined during Spanish colonization period providing an influx of riches that shaped colonial dynamics as much as knowledge exchange did upon arrival.
Ancient Burana tower located on famous Silk road, Kyrgyzstan
Creative Outlets
Today though not experiencing quite the same prevalence throughout society as it had done prior during various points across history, Silver can still be found in use today mostly within creative outlets – primarily jewellery crafting but also encompassing works by sculptors using techniques such solder engraving to create intricate artwork pieces that are now highly sought after purely from aesthetic aspects alone (Diamonds not necessarily included). Nonetheless Silver remains an integral part of many cultures’ socio/economic status systems even today.
It is clear that silver is becoming increasingly popular and valuable in both the technological world and as a currency. As technology advances and more industries adopt digital solutions, the need for silver increases.
Attractive Options
Silver is also highly sought after and trading at a record high due to its booming market value. This has created investments opportunities for both institutional investors and everyday citizens around the world. Additionally, silver has seen increased usage in medical applications, from treating arthritis to reducing inflammation.
These successes are likely to continue as researchers uncover new ways to utilise silver for beneficial medical treatments. On the other hand, many are turning to gold or alternative forms of currency such as cryptocurrencies due to greater stability and potential profits during times of economic uncertainty.
While buyers should always stay informed about current market trends, silver will certainly continue to be an attractive option for those looking for both tangible assets and digital investments alike.
Platinum: A short history
Platinum is a rare and expensive metal that has been prized for centuries. It is known for its strength, malleability and resistance to corrosion. It also has many non-ornamental uses such as in jewelery, electronics and medical instruments.
The use of Platinum dates back to ancient civilizations such as the Egyptians and Greeks who used the metal in coins and decorations. However it was not until the 16th century that Europeans identified the metal. The Spanish explorer Antonio de Ulloa was the first person to bring Platinum back from South America to Europe in 1735 and study it more carefully.
It wasn’t until 1850 when a German chemist Henri J. Auer von Welsbach discovered how to make an alloy out of platinum, nickel and iron that was powdery enough for industrial applications like jewelery making, crucibles, lasers and diesel engines among others, that Platinum really started becoming popular. The industrial revolution saw a huge increase in demand for how this strong but malleable metal could be used.
Platinum in the 20th Century
By the 20th century technology had advanced even further allowing humans to understand platinum better than ever before which led to endless new possibilities of using it commercially, like wire production and precision equipment formation processes.
By the 21st century its popularity had exploded with big names like IBM using it in their computer chips, jewellery companies still using it extensively to create exquisite ornaments and even pharmaceutical companies beginning research into its antibacterial powers as a treatment option..
Today platinum is still highly prized due to its scarcity, beauty and versatility but now we are able take advantage of modern day technology’s ability to manipulate innovative materials such as nanoparticles composed entirely of platinum or complex alloys created by mixing various elements depending on what is desired outcome is needed.
There’s no telling where Platinum will go next!
In Conclusion
GOLD
Gold is particularly attractive because it doesn’t corrode or rust like other metals, meaning it will maintain its value over time and has historically shown an increase in value when there is politically instability or economic crises.
It is a valuable asset that appeals to investors all around the world due to its historical stability and proven ability to maintain its worth over time – even when there are political flurries or economic downturns.
It is a popular choice among those who appreciate its rarity and durability compared to other precious metals on the market today, making it a reliable form of investment regardless of varying conditions contributing factors surrounding economics and international politics.
SILVER
Silver is also a popular investment due to its relatively low cost compared to gold and its increasing demand from industrial applications. It is widely used in photovoltaic cells, electronics and medical equipment, so its price can benefit from supply or demand changes in these industries.
Making an informed decision when investing in something as volatile as silver can mean all the difference between high profits or financial loss – which is why taking steps such as researching thoroughly, understanding personal goals/risk profiles, diversifying appropriately and paying attention to market forces are all paramount before taking action!
As long as these tactics are taken into consideration and monitored on an ongoing basis then listing Silver in your portfolio could prove both rewarding & profitable!
PLATINUM
Platinum is viewed by many investors as a symbol of wealth and status; therefore, its prices often rise faster than gold when there are favourable economic conditions. When there are favourable economic conditions due to its unparalleled scarcity; strength; versatility and diversification benefits mentioned above Its rarity makes it an optimal choice for investors who want to diversify their portfolios with rarer precious metals.
Gold, silver and platinum are great investments for the future due to their everlasting potential of appreciating in value. They are all considered safe-haven assets due to the fact that they can retain their values amidst uncertainty such as market turmoil or inflation.
Overall, gold, silver and platinum offer an alternative form of wealth preservation that can be used as a hedge against currency devaluation or economic uncertainty. These three precious metals provide long term stability for investors looking for a safe option for growing wealth over time.
Secure Space
At Private Vaults Australia, not only can we facilitate your investment into any or all of these Bullion classes, we are also North Brisbane’s premier storage facility, allowing for secure protection of all your important property & investments including Gold, Silver & Platinum!
For more information, visit privatevaults.com.au, goldbullionaustralia.com.au, call us on 1300 888 782, email at help@privatevaults.com.au or visit us – 3/73 Redcliffe Pde, Redcliffe 4020 (Entry via Baker Street)
Recent Comments