Trade My Gold

Since prehistoric times gold was one of the first metals to be mined, mainly because of the form in which it was found, being nuggets or small pieces at the bottom of a river. It became so high in demand that Egyptians started mining it in 2000 BC. Throughout history many civilizations chose gold as a reliable and universal form of money for goods.

The gold standard, the monetary system for which the economic currency used is backed up by the gold reserves of the issuing country. It came to exist, due to the recognition of gold as an actual currency. It was abandoned by the United Kingdom and the whole British Empire when World War I began. Most of the other countries also abandoned it during the 20th century.