The gold coin is one of the oldest forms of coins to be used. This is because even before the value of coins was printed on the coins themselves, the coins were valued simply for the weight of the gold which it was made out of. This made sense to trade through the use of gold coins because the gold had value as did the item or service the gold was being traded for. As countries become more established over time the gold coin was created to include more decorations including ornate obverse and reverse faces which held their own value.
The modern gold coin looks very different from the old coins. There are many different reasons for this. One of the biggest reasons for the changes in the ways that coins have been made is that they no longer have to be struck by hand. Additionally, there is value placed on the coins looking beautiful. These gold coins have also been created to commemorate events and people for the rest of the world to remember. While any good numismatist will surely know this information, it is good for all people to know the history of the gold coins and their place in the modern world.
New Striking Technology
Looking at an old gold coin it is easy to see that they were struck by hand. This is because you will see that one side shows more relief than others. This is because no matter how steady the die was, there were still blows which would catch a coin slightly off center. Slight shifts in the die between strikes could also cause double casting and other imperfections. The new methods allow for fewer strikes and more accuracy but slightly less character in the coins which are cast.
Value Placed on Beauty
Since the new coins could be struck faster and with less attempts, it was possible to offer coins with far more detail. This is why the modern gold coin places more value on beauty. Since the coins lost some of the intrinsic value when the modern mint was created, it opened the door to make the coins valuable in other ways. This is how you get coins which are designed by sculptors like the Saint-Gaudens Double Eagle or the English Gold Sovereign which was engraved by Benedetto Pistrucci.
Reasons to Mint Coins
With the ease in which the modern gold coin could be created, it cleared the way to create coins for just about any reason under the sun. These days it is common to find commemorative coins which celebrate human achievement or mourn the loss of those in tragedy. Other coins are made in order to celebrate past gold coins which are no longer in circulation. While some coins are worth millions, all gold coins are still worth at the very least the metal that they are made from. This gives them value no matter what you think about the way they were made.
Photo Credits: oliworx
Originally posted 2010-09-03 03:57:16. Republished by Blog Post Promoter
