Gold Bullion Is Timeless

Gold has been around since virtually the beginning of civilisation and it has been known by many different names. The Inca people called it 'tears of the Sun' and it is mentioned in the Bible. In its highest purities – 995 fine or higher – it is called gold bullion and the term has been used to describe gold coins, ingots, bars or wafers that are almost 100% pure. Today, investors trade physical gold bullion in many different weights on a daily basis, with some investment bars weighing up to 400 ounces.

Throughout history, Gold bullion has always been precieved as a precious metal that shows wealth and immortality. Gold bullion is mentioned in the 'Odyssey' and the 'Iliad' by Homer as being something the immortals gloried over. The Code of Menes – which dates back to 3100 BC – mentions gold and silver and even compares the two precious metals in one of the first value ratios ever to be recorded. Menes, the founder of the very first recorded Egyptian dynasty, valued one piece of gold bullion as being worth two and one half pieces of silver. Even today investors refer to the Gold / Silver Ratio.

During the reign of Seti I the very first gold bullion treasure map was found. The fragments of papyrus are located in the Turin Museum and visitors can view the location of ancient gold mines, roads that led to the mines, where miners were housed, and more. Gold bullion was prevalent in Egyptian society as can be seen in the many statues and other artifacts found among the tombs of the Pharaohs. It is believed that the map led at one time to gold bullion deposits in the area of the El Sid gold mine.

Gold and gold bullion has been mentioned in numerous pieces of literature, from 'Jason and the Argonauts' to modern classics and plays. Gold bullion has been in existence and used longer than there has been a written language. Literary references to the Golden Fleece are not a fictional references. They are an actual method used by miners to gather gold bullion particles from sand. Miners would run the water and sand over the fleece which would trap the heavier gold particles. When the fleece was full of gold, it was hung up to dry and then beaten to break the gold particles out. Miners during the California gold rush in the mid 1800's used this method to gather gold flakes out of water.

Gold bullion was first recorded as being used as money as early as 700 BC. According to Herodotus, Lydian merchants were the first ones to make gold coins. The coins were simply stamped lumps of bullion mixed with silver, and they owned the first hoard of gold bullion ever seen in the world. Gold bullion is still a highly traded commodity today, and it is one of the few investment commodities that are seen as a safe haven in times of financial instability.

Article Published On: 06 June 2009
Article Revised On: 11 May 2011

Disclaimer
The above article is for information purposes only, and is not advice. Its accuracy cannot be guaranteed and no responsibility for errors or omissions can be accepted by the website owners.

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Gold Bullion Is Timeless

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