History of Russian gold coins. The History of Gold Why did gold get its name?
origin of name
Since gold was known, probably even before the advent of writing, it is most likely impossible to trace the history of its name. It is known, however, that in ancient Slavic languages the word gold had a common root with the word "yellow", the original version of the word is recorded as zolto. Some associate the origin of the word "gold" with the word "sun" (the root sol). However, there are no sufficiently reliable versions of the origin of the name.
The word gold in European languages is associated with the Greek sun god Helios. The Latin aurum means "yellow" and is related to "Aurora" (Aurora) - morning dawn.
Discovery history
Gold (English Gold, French Or, German Gold) is one of the seven metals of antiquity. It is generally believed that gold was the first metal that man met in the Stone Age due to its distribution in its native state. The special properties of gold - heaviness, brilliance, non-oxidation, malleability, malleability - explain why it has been used since ancient times, mainly for the manufacture of jewelry and partly for weapons. Golden items for various purposes have been found by archaeologists in cultural layers dating back to the 4th and even the 5th millennium BC, i.e. to the Neolithic period. In the III and II millennia BC. e. gold was already widespread in Egypt, Mesopotamia, India, China, from ancient times it was known as a precious metal to the peoples of the American and European continents. Gold, from which the oldest jewelry is made, is impure, it contains significant impurities of silver, copper and other metals. Only in the VI century. BC e. in Egypt, almost pure gold appeared (99.8%). In the era of the Middle Kingdom, the development of Nubian gold deposits (Nubia, or Ethiopia of antiquity) began. This is where the ancient Egyptian name for gold, Nub, comes from. In Mesopotamia, gold mining on a large scale was carried out already in the 2nd millennium BC. e. The Babylonian name for gold, hure-shu (hurasu), has a distant resemblance to the ancient Greek word (chrysos), which is found in all ancient literary monuments. Perhaps this word comes from the name of the area where gold could come from. The Old Indian ayas (gold) was later used in other languages for copper, which may be an indication of the prevalence of counterfeit gold in antiquity. Since ancient times, gold has been associated with the sun, called the solar metal or simply the sun (Sol). In Egyptian Hellenistic literature and among alchemists, the symbol of gold is a circle with a dot in the middle, i.e. the same as the symbol of the sun. Sometimes in Greek alchemical literature there is a symbol in the form of a circle with the image of a ray associated with it.
Gold, as the most precious metal, has long served as an exchange equivalent in trade, in connection with which methods have arisen for the manufacture of gold-like alloys based on copper. These methods were widely developed and disseminated and served as the basis for the emergence of alchemy. The main goal of alchemists was to find ways to transform (transmute) base metals into gold and silver. European alchemists, following in the footsteps of the Arabs, developed the theory of "perfect" or even "superperfect" gold, the addition of which to a base metal turns the latter into gold. In alchemical literature, there are many names of gold, usually encrypted: zaras (zaras), trikor (tricor), salt (Sol), sun (Sonir), secur (secur), senior (senior), etc. Some of them have Arabic origin, for example al-bahag (joy), hiti (cat droppings), ras (head, principle), su "a (beam), diya (light), alam (peace).
The Latin name for gold Aurum (Aurum, ancient ausom) means "yellow". This word is well compared with the ancient Roman aurora or ausosa (morning dawn, eastern country, east). According to Schroeder, the word gold among the peoples of Central Europe also means yellow: in ancient German - gulth, gelo, gelva, in Lithuanian - geltas, in Slavic - gold, in Finnish - kulda. Among some Siberian peoples, gold is called altun, among the ancient Persians - zarania (or zar), which is compared with the ancient Indian hyrania (more often, however, related to silver) and ancient Greek (heaven). The Armenian name for gold, oski, stands apart. Slavic gold, or gold, used since ancient times, is undoubtedly connected (contrary to Schroeder) with the ancient Indo-European Sol (sun), probably in the same way as Central European Gold (gelb) with Greek (sun).
Such a variety of names for gold testifies to the widespread acquaintance with it of various ancient peoples and tribes and to the crossing of names of different tribes. The derivative names of gold compounds currently used come from the Latin aurum, Russian "gold" and Greek.
I think there is no need to give description of gold as a chemical element. More professionally about gold is written in the articles Gold and Aurum in the main dictionaries. The evolution of the role of gold in the economy during the crisis is revealed in the article.
Name of gold
Russian word gold, German and English gold(common roots gold and gold), as well as Latin Aurum- all are formed from words that characterize the yellow (golden or greenish) color inherent in this noble metal in its pure form. For example, Latin Aurum related to the word Aurora which the Romans called the morning dawn.
natural gold
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People met with gold a very long time ago, since native gold sometimes found in nature. It accumulated in the human population due to its beauty and ability to persist through time due to its extraordinary chemical resistance to oxidation. Their first products (natural alloy of silver and gold) were found in the territories of ancient civilizations in Mesopotamia and Egypt. Gold for centuries it was used exclusively as a material for jewelry, as it did not have the physical strength of copper or iron alloys.
Fig.1 native gold Fig.2 Scythian gold Among commodity money, metals have always stood out for their durability, and because of their rarity gold(labor costs in mining), it was considered the most valuable metal, surpassing the more common silver. The development of commodity-money relations gradually led to gold monometallism, when gold is the measure of all value. Even today when gold the whole world is not enough to provide all the money printed, in times of crisis, people out of habit turn to gold as an ideal standard for measuring other units of value. Today, all precious metals of the platinum group are available to people, among which there are also more expensive ones than gold, but for investment and use as treasures, gold traditionally used more often. |
The use of gold
The bulk of gold is consumed as a material for jewelry, and the industry consumes only a small part of it, how is gold different from silver, which is consumed by the industry in large volumes.
Used to be gold has never been used in its pure form, and even today for jewelry and metal for coins use special alloys containing, in addition to gold, other ligatures. Pure gold such a soft metal that it can be washed almost by hand, therefore, to obtain consumer products, they use gold alloy, to which one or more other metals are always added as an impurity that increases physical hardness. To indicate the amount of gold in the composition of the alloy, a brand is put on the products - gold samples- from the numbers, which shows the percentage of gold. Russian samples consist of three digits - for example, gram of 583 gold means that the material of the product contains 58.3% pure gold. In the English system, another (step-by-step discrete) calculation is used - in cards, while 24 carats correspond to 100% or Russian 1000 samples (999). It turns out that a carat contains 4.15% pure gold.
copper gold
colored gold
In other countries, more commonly used alloy of gold and silver(including some copper), which had a color similar to the natural color of gold or slightly lighter. yellow gold like alloy of silver and gold had even better physical properties than pure gold, which made it possible to make rings weighing 2 grams.
The inclusion of a high content of silver in the composition of the alloy, and even better platinum or palladium, makes the color so light that such gold is called white gold. White gold with platinum or palladium is more expensive than ordinary gold, but sometimes a nickel ligature is added to obtain white gold. Such white gold with nickel is cheaper, but it is fragile, and products can acquire magnetic properties.
Since ancient times, gold has been a monetary metal. Metal money from nuggets, gold dust and gold ingots or its alloy in a small volume could retain a large value, which was appreciated by the participants in commodity-money relations in ancient times.
The invention of the coin, a standard bullion in the form of a rounded disc, is also associated with gold. The first rounded ingots with the image of a lion - the symbol of the king were minted in Lydia from electrum (natural alloy of gold and silver), and their name - - they received already in the days of Ancient Rome. The name coin for standard minted round bars became generally accepted throughout the vast territory of the empire from Spain to India.
Actually, the Romans gave all metallic money not only a name - a coin, but determined in advance the standards of weight and gold content in coins. As a rule, in the following centuries in Europe, all major gold coins were minted in weight from 7 to 8 grams. The gold content in coins was usually in the parameters from 90% to 80%, but the rulers constantly reduced the gold content (fineness) in the alloy.
This article was written to clarify the provisions of the sections,. Link to this article: http://site/page/zoloto
Typically household economics concepts often do not coincide with legal formulations, therefore, if you still decide, you need to study the meaning of basic economic terms.
Main economic concepts contains my :
The story of how the first Russian gold coin appeared begins in the 9th century. Prince Oleg of Novgorod captures the city of Kyiv and the official history of our state begins. For the full existence of the new state, it was necessary not only to introduce various authorities, but also its own monetary system. Things were not very good with the last point, and at first, settlements within the country were carried out with the help of Byzantine money made of gold and silver. In the future, this will become a determining factor for the appearance of ancient Russian coins.
By the 10th century, the need for their own currency, for the realization of people's incomes, had increased so much that it was decided to start their own issuance of coins. The first iron money in Russia was only two types of gold and silver. Money made of silver was called srebreniki, but what was the name of the first Russian gold coin made of gold? Zlatnik - this is how it is customary to call the first Russian gold coin.
The history of the appearance of Zlatnik
For the first time in modern history, a copy appears in 1796, when a Kyiv soldier sold one copy to a collector. At that time, no one knew what the name of the coin was, which was passed down as a relic for years. At first it was mistaken for the Byzantine gold of those times. After 19 years, it was resold to another private collection, but then considered lost. The surviving plaster casts forced numismatists to reconsider their attitude to the history of money circulation in Russia. Previously, it was believed that their own money was not minted in those days, and the country managed with coins brought from Byzantium, Arab and European countries.
Zlatnik bears the image of Vladimir, the ruling prince. Some numismatists agree that the coinage was made rather not for the needs of the state, but to demonstrate the significance of Russia. On the other hand, the specimens found have traces of circulation. Therefore, we can say that despite the modest circulation, Zlatnik was used for rituals or rewarding. To date, the existence of 11 gold coins of Vladimir is known, 10 were divided between the Russian and Ukrainian museums, and one of the Russian gold coins is probably in a private collection.
Characteristics of Zlatnik Vladimir
Presumably, Zlatnik's coinage dates back to the 10th-11th centuries. Circulation cannot be determined.
Diameter: 19 - 24 mm.
Weight: 4 - 4.4 g.
On the front part (obverse) there is an image of Christ with the Gospel and an inscription around the circle "Jesus Christ".
In the center of the reverse is the chest image of Prince Vladimir, in his right hand he holds a cross, and his left on his chest. On the right side of the disk, there is a trident. Also on the reverse is an inscription in Old Russian, which reads - Vladimir on the throne.
The average weight - 4.2 grams, became the basis for the Russian weight unit - the spool.
The appearance of their own money contributed to the strengthening of relations with Byzantium, especially in terms of trade.
The original version of the name of the coin, which became the first Russian gold coin, differs from the modern one. Previously, they used the name - Kunami, Zlat, Zolotniks.
In 1988, in honor of the 1000th anniversary of the first gold coin, the USSR issued a jubilee gold coin with a face value of 100 rubles.
Money from the yellow precious metal appeared in Russia more than a thousand years ago. The first coins of "own production", minted from gold, appeared in our country in the 10-11th century, during the time of Prince Vladimir, known to us as "Red Sun". On all the coins of this period, the influence of Byzantine art is noticeable. On the front side, the Grand Duke was usually depicted with a trident (this was the “crown” symbol of the Kiev princes), on the reverse side there was an image of Christ the Savior with the Gospel in his hand.
Zlotnik of Prince Vladimir.
In those days, there was a heyday of Kievan Rus, and it is clear that in order to raise prestige among the people and neighboring states, gold coins were minted. But then came a difficult period - the Tatar invasion, civil strife, unrest. All this naturally led to the fact that the treasury of even the richest princes was empty. Accordingly, until the end of the 15th century, a gold coin was not minted in Russia.
The production of their own coins by re-coining (mainly from Hungarian) began under the Moscow Grand Dukes Mikhail Fedorovich, Ivan III Vasilyevich. Interestingly, most often these coins were not in use, but were issued as a reward for military merit.
Mikhail Fedorovich. Complained gold in three quarters of Ugric.
The tradition of minting gold kopecks and gold coins continued under the tsars. On the coins of Ivan IV Vasilyevich the Terrible, the double-headed eagle was placed on both sides of the coin. The son of Ivan IV, Fyodor Ivanovich, on one side of the coins placed an inscription with his title, on the other - a double-headed eagle or horseman.
Fedor Alekseevich (1676-1682). Award gold in two Ugric. Novodel.
Similar types of coins were minted by False Dmitry, Vasily Shuisky, Mikhail Fedorovich Romanov. Alexei Mikhailovich minted a double gold piece with his belt image.
Pre-reform coins of Peter I, Ivan and Sophia were both with images of co-rulers, and simply with double-headed eagles on both sides.
Ivan, Peter, Sophia. Award gold in one Ugric for the Crimean campaign of 1687
Under Peter I, everything changed. Gold coins came into use as they began to be minted on an industrial scale. So, they were minted according to a strict pattern, and their denomination under Peter I was unusual. Since 1701, the first Russian emperor ordered the minting of 1 ducat and 2 ducats.
The fact is that initially a large number of these coins were minted from Western gold ducats. The weight of 1 ducat fluctuated, but, as a rule, was 6-7 grams. Their difference from modern money was that its denomination was not indicated on the coin. But the Russian people found a more familiar name for such "ducats" and began to call one ducat a chervonets, and two ducats a double chervonets.
Dukat of Peter I.
Since 1718, Peter I issued 2 gold rubles. His wife Catherine I during her reign also issued only a two-ruble note made of gold. By the way, the circulation was limited and reached about 9 thousand copies. Therefore, today for a two-ruble coin of Catherine I Alekseevna, you can get from 90 to 900 thousand rubles.
Two rubles in gold. Ekaterina Alekseevna.
During the reign of Peter II, gold coins were minted without a denomination, but out of habit they were called chervonets. The same thing happened with Anna Ioannovna. For a coin with a portrait of this autocrat, today you can get from 35 thousand to 2 million rubles (depending on the year and the image on the coin).
Chervonets Anna Ioannovna. 1730
In the short reign of the infant John IV, gold coins were not minted: they simply, probably, did not have time in a few months.
Further, when Elizaveta Petrovna came to power, the production of gold money finally revived. In addition to the standard chervonets with a portrait of the Empress, a double chervonets was issued. There were also half a ruble, 1 ruble, 2 rubles. Then, in 1755, the imperial (10 rubles) and semi-imperial (5 rubles) were added to these coins. On the new coins, instead of the double-headed eagle on the reverse, there is a cross of four patterned shields connected by a fifth. On the first four - coats of arms and symbols of the cities of the Russian Empire, and in the central shield - a double-headed eagle with a scepter and orb. The imperials were most often used for foreign trade operations.
Imperial of Elizabeth Petrovna. 1756
Among this abundance, Peter III left only the usual gold coins, as well as imperial and semi-imperial. After the story of the overthrow of her husband, Catherine II ordered that all coins with the portrait of Peter III be re-minted into coins of the same denomination, but with her name and portrait. Therefore, coins from the time of Peter III are very rare and highly valued. There is evidence that at auctions they go for amounts starting from several tens of thousands of dollars.
Paul I, son of Catherine II, initiated a new tradition. Money was now minted without a portrait of the emperor. He left an imperial, a semi-imperial and a gold ducat. They looked unusual.
Pavel's chervonets. 1797
Under Alexander I, the tradition continued. Only the imperial (10 rubles) and the semi-imperial (5 rubles) remained among the “gold”. After the victory over Napoleon in 1813, Poland became part of Russia. In this regard, since 1816, Alexander I began minting coins (for Poland) at the Warsaw Mint. From gold were 50 and 25 zł.
50 zlotys with a portrait of Alexander I. 1818
Nicholas I left the imperials, but became famous for the fact that he began to mint coins ... from platinum! These were the first platinum coins in the world issued for everyday circulation. They were issued in denominations of 3, 6 and 12 rubles. Then, by the way, platinum was not considered expensive and cost 2.5 times cheaper than gold. It had just been discovered in 1819, and its extraction was very cheap. In this regard, the government, fearing massive fakes, withdrew platinum coins from circulation. And more money from platinum has never been minted in Russia. And all the scrap coins - 32 tons - were sold to England. And this country has long been a monopoly on this metal. Today, platinum coins of Nicholas I can be sold at auctions for 3-5 million rubles.
Platinum 6 rubles of Nicholas I. 1831
Let's get back to gold. The successor of Nicholas I, Alexander II, the most democratic tsar and the liberator of the peasantry, minted only semi-imperials and also introduced 3 rubles in gold. There were reforms in the country, special money for minting gold was not provided. Apparently, that's why the denominations have decreased.
3 rubles in gold. Alexander II. 1877
Alexander III left coins of the same denomination, but returned the imperial - 10 rubles. And he ordered to mint his portrait on it. So the tradition of portrait chervonets resumed. The technical characteristics of the gold coin are changing - they become thicker, but of a smaller diameter. Gold coins of Alexander III are sold at auctions for amounts of 7-20 thousand dollars.
Imperial of Alexander III. 1894
Further, we have only the golden times of the infamous last Tsar Nicholas II. Coins of 5 and 10 rubles are still carried to the buyers of the old woman, who knows where they have been preserved until now. And the search engines dream of seeing the golden sheen of this particular royal profile in the hole just dug.
Golden chervonets of Nicholas II.
The weight of a gold coin with a face value of 10 rubles before Nicholas 2 was 12.9 grams. After the Nikolaev monetary reform, the weight of a gold coin with a face value of 10 rubles was reduced by one and a half times and amounted to 8.6 grams. Therefore, gold coins became more accessible and their circulation increased.
In the new lightweight "Nikolaev" weight, gold 15 rubles and 7 rubles 50 kopecks were minted. At the same time, their cost is low, as well as the cost of "Nikolaev" chervonets - about 20 thousand rubles. But they are found more often than all the other coins put together, and the chance to find them on a detect is also higher.
There are also "gift" coins from the time of Nicholas II. These coins were minted for the personal gift fund of Nicholas 2. The dates of their minting suggest that 25 rubles in 1896 were minted specifically for the coronation, and 25 rubles in 1908 - for the 40th anniversary of Nicholas 2. The price of such gold coins reaches 120-150 thousand dollars.
Following the donative (gift) coins, one can distinguish a completely unusual, unparalleled, gold coin with a face value of 37 rubles 50 kopecks - 100 francs of 1902. According to some assumptions, in this way, Nicholas 2 wanted to commemorate the Franco-Russian union, however, another part of numismatists is more inclined to believe that 37 rubles 50 kopecks - 100 francs were intended for use in the casino system. At the price of such a "gold" today at auctions can be found for 40-120 thousand dollars.
The history of the last gold royal chervonets deserves a separate story.
You will learn about it in the next article.
A brief history of gold, gold as a world currency, foreign exchange reserves of countries, the use of the yellow metal, myths and stories about the precious metal.
A Brief History of Gold
It is believed that it was gold that brought all mankind to a new level of development - to the era of metals. Gold is a very rare and expensive metal, so it is not surprising that it began to be used as a means of payment. Archaeologists have found ancient gold items (dated to 4600 BC) in Bulgaria in the Varna necropolis. This find is considered the oldest of all. Therefore, it can be firmly stated that mankind has been familiar with gold for many thousands of years.
This metal played an important role in the life of ancient peoples. In Egypt, he was compared to the sun and unlimited power. All the wealth of the country was stored in the form of gold. New currencies appeared and disappeared, but this expensive metal remained the same: universal and stable. Having a lot of gold was not only important and prestigious, but also quite dangerous. Egyptian gold has come a long way: first it was in the hands of the Assyrians, then it was in the hands of the Persians, the Greeks, and, in the end, it was taken over by the Romans.
The history of gold begins in the prehistoric era. Even then, people understood all its value and importance.
Over time, many places were discovered where gold could be mined: in 1471 in Ghana, Mexico, Chile and Peru, in Brazil; in 1745 - in the Urals, in 1823 - in Canada and the USA; in 1851 gold began to be mined in Australia, later in 1884 in South Africa. Thus, all countries gradually began to recognize gold as a common monetary equivalent. Many gold hunters appeared. In the 16th century, people in total mined about 763 tons of this precious metal, in the 17th - about 914 tons, in the 18th - 18,900 tons, and in the 19th - already more than 11,616 tons. 
Akinfiy Demidov, Russian gold miner
As for Russia, we began to mine gold in 1726 (Demidovs). In addition, excavations were carried out at mines in Altai. Gold has been mined in Karelia since 1745. In the same 1745, the peasant Markov began to mine gold in Berezovsky. In 1814, gold was also found in the Urals. After that, gold diggers appeared in Siberia, in Transbaikalia, near the Yenisei Ridge and in Kazakhstan. Then, at the end of the 19th century, gold deposits were found in the Far East. It was in Russia that industrial gold mining began with the help of placers.
At all times, no other metal has spawned so many crimes and wars. On the other hand, gold moved the progress of mankind and brought it into a new era. The current monetary system was built on the basis of this metal. Today, gold is a universal equivalent, a universal means of accumulation and payment.
Gold as a means of payment
Gold has become a universal means of payment only because of its properties. It is inert, therefore almost does not react to external factors. It does not dissolve, does not oxidize and does not change its state in the natural environment. Only in a special solution of "royal vodka" can this noble metal be completely dissolved. All these physical and chemical properties allow gold to exist quietly in nature in its natural pure form, which cannot be said about other metals.
Gold is characterized by a slight luster, it does not lose its appearance, does not melt. It is an excellent metal for forging. Because of this, it is considered the best for making jewelry. This metal can be mined on almost every continent. Most often, this work is very laborious and complex. Gold deposits are limited. For example, Russia is considered one of the countries that has large deposits of this metal (about 16 thousand tons). The cost of gold mining varies greatly depending on the country and deposit. It varies from 110 to 350 dollars per ounce. An ounce is a measure of precious metals approximately 31.10 grams.
Emergence of the gold standard
The gold standard is such a financial system in which the value of money is expressed in some amount of gold. This system came to replace the silver standard. In addition, along with gold, there is also a bimetallic standard that shows the ratio of gold to silver. The main rule of the gold standard was the right to quickly and affordably exchange paper money for gold. Due to this, financial market inflation would disappear. 
The owner of this bill had gold equivalent to one hundred dollars.
The first mention of this system was dated 1821 in England. That is why the pound remained the world currency until 1914. During the Bretton Woods conference, the gold standard was legalized. In 1971, the US abandoned the gold standard system, and this system was not used after the Jamaica Conference.
Due to the current crises, economic experts have often raised the issue of bringing the gold standard back into action. But the amount of precious metal is too small to fully ensure the circulation of money. The main advantages of choosing gold as the universal currency were:
- durability, immutability of its properties over time;
- high price;
- good divisibility;
- the ability to identify from all precious metals.
Reasons why people began to refuse to use gold as a currency:
- the impossibility of quick and easy emission;
- heavy transportation of large amounts;
- loss of gold.
There were three types of gold standard:
- Gold coin standard. The classic gold standard, which was observed in countries that used coins made of gold, as well as paper money. Any kind of money could be exchanged for an equivalent in the form of gold in any form.
- Gold bullion standard. Due to the discrepancy between the amount of gold and the total mass of paper money, the gold coin standard disappeared. Therefore, it was found that money can only be exchanged for bullion (minimum weight 12.5 kg). Therefore, many poor people could not exchange their reserves for gold.
- gold standard. This standard is also called the gold exchange standard. It takes into account all the nuances of the gold bullion standard in the current international situation. This standard was the basis of the Bretton Woods monetary system.
Gold reserves of the countries of the world
A gold reserve is a reserve of gold, which is in the power of the Central Bank of a certain country and is a certain part of the gold and foreign exchange reserve. To date, the amount of gold mined is 174,100 tons. According to the World Gold Council, the amount of gold reserves by country is 30,000 tons. In the table below, you can compare the gold reserves of various countries of the world (relevance as of June 2014):
| # | the country | gold reserves, tons |
| 1 | USA | 8 133,5 |
| 2 | Germany | 3 384,2 |
| 3 | International Monetary Fund (IMF) | 2 814 |
| 4 | Italy | 2 451,8 |
| 5 | France | 2 435,4 |
| 6 | Russia | 1 112,5 |
| 7 | China | 1 054,1 |
| 8 | Switzerland | 1 040 |
| 9 | Japan | 765,2 |
| 10 | Netherlands | 612,5 |
| 11 | India | 557,7 |
| 12 | Turkey | 512,9 |
| 13 | European Central Bank (ECB) | 501,4 |
| 14 | Taiwan | 423,6 |
| 15 | Portugal | 382,5 |
| 16 | Venezuela | 367,6 |
| 17 | Saudi Arabia | 322,9 |
| 18 | United Kingdom | 310,3 |
| 19 | Lebanon | 286,8 |
| 20 | Spain | 281,6 |
| 21 | Austria | 280 |
| 22 | Belgium | 227,4 |
| 23 | Philippines | 194,3 |
| 24 | Algeria | 173,6 |
| 25 | Kazakhstan | 155,8 |
| 26 | Thailand | 152,4 |
| 27 | Singapore | 127,4 |
| 28 | Sweden | 125,7 |
| 29 | South Africa | 125,1 |
| 30 | Mexico | 123,3 |
The USA takes the first place. It was gold bars in this country that became a replacement for the dollar, after its role as a reserve currency decreased. Thus, sales of gold in the US may help reduce the pressure of buyers of precious metals.
In second place is Germany. In the period 2003-2008. it was this country that occupied a leading position in the sale of gold. But, these sales did not reduce the country's own gold and foreign exchange reserves. Therefore, Germany will continue to sell this metal without harm to the economy.
Italy is in fourth place. Since this country is currently heavily indebted, it can be assumed that in the near future it will begin to actively sell its gold reserves.
On the sixth place - Russia. Over the past six years, Russia has doubled its gold reserves, from 520 tons in 2009 to 1,100 tons by mid-2014. Active replenishment of reserves began immediately after the 2008 crisis. Apparently, the Russian government does not rule out repeated crises in subsequent years and is stocking up on a liquid asset that has value under any circumstances.
Next comes China. The population of this country is large, and the economy is developing rapidly. Between 2003 and 2009 China bought about 450 tons of gold and about 200 tons in 2010. The country is actively converting its reserves into gold.
Switzerland is actively opposing the appreciation of the Swiss franc. Therefore, the country sells gold, there is no point in increasing reserves.
Gold reserves in Russia
Gold reserves in Russia Today, Russia diversifies its reserves most of all into gold. As of July 2014, the reserve is 1094.73 tons, the annual increase is about 50-80 tons. The growth of Russia's gold reserves causes little concern in the West. It should be noted that the role of gold in the international market is rapidly increasing. So, many banks are buying up gold to maintain their own reserves in an unstable economic situation. Central banks are moving away from holding their assets in dollars or euros and are increasingly resorting to buying the precious metal.
Most of Russia's gold reserves were purchased on the domestic market. Back in 1995, 60% of the country's reserves were stored in gold. The World Gold Council has said that if Russia wants to catch up with the previous figures, then it needs to buy another 5,000 tons of gold, according to current prices. Based on the dynamics of growth, there is a suspicion that perhaps the Russian central bank has such tasks.
The country's gold reserves at the end of 2011 amounted to 882.96 tons. At the end of the next 2012, the volume of reserves increased by 74.8 tons and amounted to 957.76 tons. In 2013, the Central Bank purchased 77.45 tons of gold.
The use of gold in various industries
For centuries, people have used gold not only as a means of payment, but also for making jewelry, dentures and much more. In our time, the entire mass of the resulting gold is divided in this way: 10% - in industry, 90% - in the manufacture of jewelry and casting ingots.
There are three branches of gold consumption in our time: investment, jewelry and industry.
- Industry. In this industry, gold plays an important role due to its properties. This metal is malleable and malleable, so it can be used to make wire or foil. In addition, gold has a high resistance to external factors, high thermal and electrical conductivity. Therefore, it is used in electronics, the chemical field and for the manufacture of measuring instruments. Due to the fact that gold reflects infrared rays well, it is often used in the glass industry. Also, this metal can serve as a target in nuclear tests to coat mirrors that operate in the far infrared range.
- The medicine. Because of its malleability, gold was often used to make dentures in ancient times. In ancient Egypt, many alloys with the addition of this metal were used in the field of prosthetics. As a medicine, gold began to be used in the 16th century. The alchemist Paracelsus tried to add it to preparations to get rid of terrible ailments, such as syphilis or tuberculosis. More famous in our time was sodium and gold thiosulfate, which is used to treat lupus erythematosus. In medicine, organic gold alloys were often used, for example, krizolgan (against tuberculosis) and triphal (against lupus). Gold is also often used in plastic surgery. Micro-thin gold threads are inserted under the skin of patients in order for collagen tissue to form around them.
- Jewelry. The manufacture of gold jewelry has been known since ancient times. In ancient Egypt, the pharaohs were buried along with the gold jewelry that belonged to them during their lifetime. Gold items were worn as amulets to protect against witchcraft and disease. Recently, the flow of gold for the manufacture of jewelry has been slightly reduced - due to the instability of the market, this metal is preferred to be used in the field of investment.
Stories, myths, legends about gold
In ancient times, gold has always attracted special attention of people, it was shrouded in legends and myths. Gold was associated with the gods, strength and power. The legends describe many items made of gold. Some Egyptian peoples compared gold to the sun. According to the legends, gold came to earth through golden raindrops that fell from the sun. The golden calf, which the goddess Nut gave birth to, had a special symbolism among the Egyptians. After birth, this calf reincarnated as the god Ra. And in the evening the sky goddess ate it and in the morning, again, gave birth to a golden calf.
The Israeli people also have an interesting legend associated with gold. When they left Egypt, they took away a lot of gold, and then used it to cast a huge statue of a calf. After that, any golden calf became a symbol of wealth.
Another well-known character in the myths associated with gold was Hercules (son of a simple woman and Zeus). During one of his exploits, he had to get apples from a golden tree. This apple tree grew in the garden of Atlanta, on the edge of the earth. After he completed this task and took out the golden apples, the hero received the long-awaited freedom. One of the most famous stories about gold is the legend of King Midas. One day he asked the god Dionysus to give him the power to turn everything he touched into gold. But, he made a mistake. The king could not eat or drink, because everything that fell into his mouth immediately turned into gold. He ran to Dionysus and asked to get rid of such a gift. God sent Midas to bathe in the river Pactola to wash away his guilt. After that, the river began to be considered rich in gold.
The Greek myth of the Golden Fleece is another reminder of this precious metal. It began to symbolize the prosperity of the inhabitants of Colchis. The Golden Fleece, according to legend, was guarded by a huge and evil dragon. But, a hero named Jason and his team were able to get Fleece and take them to Greece.
The ancient Inca civilizations depicted the sun god Inti in the form of a golden disk. According to legend, the legendary hero Manco Capac threw a staff made of gold at his feet, and the city of Cuzco was built on this site. Therefore, the first ruler of the Incas called himself and his wife the children of the sun god. In Norse stories, the thunder god Thor had a golden hammer. With it, he protected people from the attacks of monsters and giants. It is also said that his wife wore chic golden hair that the dwarves forged for her. In Ireland, they believe that there are such characters as leprechauns. They are small half-humans, half-gnomes, dressed in green clothes. It is said that every leprechaun has a pot of gold and if any man catches it, the dwarf will show the location of the treasure.
The ancient Slavs believed in the Golden Baba - the goddess of peace and tranquility. Her gilded statues are still worshiped by the inhabitants of Siberia (the Mansi and Khanty tribes). They believe that this goddess lived there many years ago, and then turned into gold. Many gold diggers are located on the territory of Western Siberia even now. Someone is looking for the Golden Woman, and someone is just looking for gold.
Today, it continues to occupy an important place in the economy and is a symbol of wealth and power. The story of gold continues and may turn out to be more exciting than it has been so far.