Gold Bullion Coins

The Pharaohs of Egypt issued the first gold coins, back around 2,700 BC, and currency debasement soon followed afterwards, with “variable” purity found in each and every coin. The first ruler to issue gold coins of a standard purity was King Croesus of Lydia, and were intended for general circulation. Relatively speaking, the Chinese were late in getting in on the action (although at present they are making up for lost time), not issuing the Ying Yuan until the 6^th or 5^th century BC.

Gold coins were used as the primary form of money until the early 20^th century. Hoarding during the worldwide economic crisis of the late 2000s 1930s forced most countries off the gold standard and therefore stopped issuing gold coins. Notably, in the USA, the Executive Order 6102 of 1933 forbade the hoarding of gold and not coincidentally, the dollar was devalued relative to gold soon. In 1971, under Richard Nixon, the US completely decoupled the dollar from any relative value to gold. And things have been great ever since.

Never bought gold coins before? Check out our tips on testing for gold coins. Are they counterfeit?