Gold coins were first produced in ancient Egypt about 4700 years ago to be used as gifts. The first gold coins to be used as legal tender were the coins issued by the legendary King Croesus of Lydia in the Sixth Century BC.
These days gold coins are of two kinds. The first kind are coins for collectors whose value is determined by their rarity and history e.g. rare American Double Eagles are sold for millions of dollars. The second kind is coins that are issued as legal tender to facilitate movement across borders but primarily intended as bullion for investors in gold. They are sold at prices that more or less reflect the value of their gold content. The best known coin in this category is the South African Krugerrand.
Gold is the traditional last haven investment and a weakening of the US dollar in the foreign exchange markets is often marked by a flight into gold.
Investing in gold can be a nerve-racking experience. It is best to educate yourself thoroughly before investing, to avoid placing your money in the wrong investments. Come here to learn more…
