A Little History About the American Gold Coins

Some of the first gold coins appeared in about 643 to 630 B.C. with them being first produced by the Lydians. Crude and made of a material called electrum which is an alloy of gold and silver, mainly gold content. It has a coloring that is a pale and yellowing mixture of both gold and silver content. The River Paxtolus, located in the Lydian capital of Sardis was full of alluvial deposits. The first gold coins were likened to these deposits.

Many believed that the gold deposits in this river were originated by the infamous King Midas himself. King Midas was believed to have washed himself in this river to rid himself of his dreaded "golden touch." You remember that story don't you? Everything the King touched turned into gold, including his food, clothing, and the love of his life. During about 560B.C. Lydians had taught themselves to separate gold from the silver and the current King Croesus had the power to issue the very first bi-metallic coinage. There were both gold coins and silver coins. Later, around 546 B.C. The King succumbed to the forces of the Persians who then took the gold and used it for their own metal for coins. Meanwhile, West of Ionia the Greeks belief that silver should be the main metal material for coins and not gold fought over this idea for a long time before coming to the conclusion they indeed favored gold the most. However, many different nations at the time and for most of this history where in disagreement over which is the one they should use or was more important than the other. Placing the two side by side the final conclusion became what we all hold dearest, Gold.