A HISTORIC GLOBAL CURRENCY

Gold is respected worldwide for its value and rich history, which cultures for thousands of years have recognized. The first pure gold coins were minted under King Croesus of Lydia's reign, roughly 100 years after the first gold-containing coins initially emerged around 650 B.C.

People have kept gold in their possession for various reasons over the ages. Gold's value has been perpetuated through societies and, more recently, the economy. It always has some value as protection against difficult times since it is the metal we turn to when other types of money are ineffective.

Since gold has been used as a means of exchange for thousands of years, its scarcity drives its price up. The main factors supporting gold's enduring value are its scarcity and immutability. It is believed that approximately 200,000 tonnes of gold have been mined throughout human history, which sounds like a lot yet would only fill three to four Olympic swimming pools if melted down. According to the World Gold Council, only about 50,000 tonnes of known reserves are thought to still be in the earth about 50,000 tonnes of known reserves are thought to still be in the earth, according to the World Gold Council.