Explore the Meaning of the Gold Symbol
Justin Fitzpatrick- Gold is the oldest form of currency and has been used as money for thousands of years.
- Gold bullion and gold stocks are traded on the major exchanges.
- Gold's price has appreciated in value over the past decade, but gold has also experienced periods of extreme volatility.
Gold has been used as a medium of exchange for thousands of years, and, as the world's oldest currency, it is arguably the most stable form of money. In fact, gold has been used as money at least as far back as 700 BC, when King Croesus of Lydia used gold coins to pay the Persian army during a war. Today, the gold symbol is used in financial circles to denote one unit of one gram of 24-karat gold bullion.
The Gold Standard
Gold has been a standard for currency exchange for thousands of years. As a broad category, gold is mined and refined into various forms, including coins, bars, and bullion.
Gold is special for currency exchange because it rarely experiences inflation; in other words, its value doesn't diminish over time, in the same way paper money does. Gold is also rare, so its value generally doesn't fluctuate much, making it stable for currency.
Gold is also the only metal that can be used to make jewelry. In fact, gold jewelry is globally popular and the most common way to invest in gold.
Gold Bullion
Gold bullion is the raw commodity form of gold. Bullion coins are the most commonly purchased forms of gold bullion, though bars, ingots and wafers are also common.
Gold Coins
Gold coins are legal-tender coins that are produced by governments and central banks.
The gold content of gold coins varies, depending on the coin. Gold coins usually contain .9999-99.99% gold, but some are made of .9999-99.95% gold.
Gold coins are sold in bullion form, but they also can be sold in the form of jewelry. Some gold coins are sold in sets, while others are sold individually.
Gold bars
Gold bars are large metal bars produced by refining companies. They are typically sold in bars 1 kilogram (2.2 pounds) and 10 kilogram (22 pounds) sizes and usually contain 99.99% gold.
Gold bars can be sold in bullion form and in jewelry form.
Gold ingots
Gold ingots are large metal bars produced by refining companies. They are typically sold in bars 1 kilogram (2.2 pounds) and 10 kilogram (22 pounds) sizes and usually contain 99.99% gold.
Gold ingots can be sold in bullion form and in jewelry form.
Gold wafers
Gold wafers are thin metal discs produced by refining companies. They are typically sold in bars 1 kilogram (2.2 pounds) and 10 kilogram (22 pounds) sizes and usually contain 99.99% gold.
Gold wafers can be sold in bullion form and in jewelry form.
Gold Standard Currency
The Gold Standard Currency is a cryptocurrency that is based on the gold standard currency policy. It is hoarded by investment companies and accredited investors.
The Gold Standard Currency launched in 2021 and is backed by physical gold. The currency is backed by 1 gram of gold. The currency's founder is Floyd Brown.
