History of Gold

1. Part
Classical Era
Mediaeval Times
Early Modern Times
 1. ANCIENT HISTORY AND CLASSICAL ERA

1. 5,000 years ago: Egypt and the Middle

East use gold coins
2. In 560 BC, Croesus the king of Lydia: The
king produced for the first time gold coins
of the same size and value
3. In 225 BC, the Roman Empire used the
first gold coins
 2. MEDIAEVAL TIMES

1. In the Middle ages, silver as preferred

coin metal
2. In Medieval Europe, gold had a value of
10 to 12 times of silver
3. In the 14th and 15th century increase of
gold value and devaluation
 3. EARLY MODERN TIMES

1. Plundering of America in the 16 th century

brought large amounts of gold to Europe.
This caused inflation
2. Fixed gold-silver conversion rate and gold
standard in the United Kingdom
3. Bimetallism of the 18th and early 19th
century
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