| One of the oldest forms of money is gold coins, | | | | of history, however, the correct amount of the |
| and they have enjoyed the status of being the | | | | precious metal it should contain was the basis for |
| primary form of money for a very long period of | | | | the value of a gold coin. The right weight and |
| time. | | | | purity, which is also called as fineness, were given |
| At around 560 BC, King Croesus of Lydia is said | | | | more importance than on the factuality of where |
| to have coined the first gold coins in the history | | | | a gold coin was said to be made and under which |
| of mankind, and in 700 BC, King Pheidon of Argos | | | | party it was ordered to be made. To avoid |
| minted the first silver coins. During the sixth or | | | | time-consuming tests in transactions that take |
| fifth century BC, the Chinese started minting the | | | | place every day, the genuine appearance of a |
| Ying Yuan, their gold coin. The twentieth century, | | | | gold coin was referred to. |
| however, saw the decline of gold coins as a form | | | | A gold coin is denser than a silver coin and all |
| of money, and their disuse finally became | | | | other coins made by other metals. This |
| apparent and ascertained in the 1930s when the | | | | characteristic makes gold coins incredibly hard to |
| world felt the terrible economic crisis of the Great | | | | fake, since the tests of volume and weight prove |
| Depression. | | | | enough to determine a gold coin's genuineness. |
| While countries the world over have stopped | | | | Platinum is denser than gold and costs more, so it |
| making and using gold coins, gold-colored coins | | | | would be futile to use them to fake gold coins. |
| have successfully made a comeback and have | | | | Other metals are either too light or cannot be |
| enjoyed patronage in several currencies. | | | | made into the right coin size. In theory, fake coins |
| Furthermore, there are some countries that | | | | could only be made by uranium, thus making the |
| continue to make legal tender gold coins not for | | | | dilemma a most unpractical one. Indeed, it is |
| circulation, but for collecting and investment | | | | mission impossible to fake even just one gold coin. |
| purposes. When Double Eagle coins were struck | | | | However, there are counterfeit gold coins in |
| by the US Mint in 1933, they were surrendered | | | | circulation and they appear to be well-made. The |
| and melted down, leaving only a few of them to | | | | Saint-Gaudens Double Eagle omega counterfeit, |
| survive. Then, in 2002, Sotheby's sold a very rare | | | | for example, is notorious for its complexity and |
| $20 1933 Double Eagle gold coin for $7,590,020, | | | | has managed to fool and mislead several |
| which is record-breaking and makes the said coin | | | | numismatics experts. There are also poor |
| the most valuable coin ever sold. Collectors are | | | | counterfeits. Some double eagles contain gold and |
| known to covet the Solidus, Aereus, and Spur | | | | copper alloys have not been thoroughly mixed |
| Rval. | | | | and have a mottled appearance; others do not |
| There are several factors that determine the | | | | use the correct amount of gold and weigh less; |
| value of a gold coin, including its age, condition, | | | | and still others are larger or smaller in size. |
| rarity, and the number originally minted. For most | | | | |