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Numismatic Gold Found in Temple Treasure by Rod Hoss
In a modern day telling of Treasure Island, the world is agape at the sheer amount of gold found buried in the peninsular state of Kerala, India. The Supreme Court of India ordered an inventory of the treasure consisting of diamonds, jewelry, artifacts and numismatic gold. It had been locked inside a temple for 130 years. The estimated value of this treasure is $22 billion dollars. The estimation is incomplete as the figure is bound to go up when the sixth vault is accounted for, which remains unopened. This represents ten percent of the nation's debt.
Understanding Numismatic Gold Coins
Numismatic gold coins are considered as "collectibles" by both collectors and investors. The price of such coins is much higher than the spot price of the yellow metal. The reason that numismatic gold coins are not as influenced by gold prices as the gold bullion coins is that the former is assigned a high rarity value. The price of numismatic gold coins is also influenced by its age and the way in which it was manufactured.
When considering buying numismatic gold coins, it is important to conduct a thorough research. The most important thing to ensure is that the company that you are making the purchase from is a reputed one. There are many fakes available in the market and most people cannot tell the difference between a genuine numismatic gold coin and its replica. Many numismatic gold coins have a certificate of authentication and you should enquire about that before making a purchase.
Numismatic gold coins are typically sold in sealed cases. Removing the coin from the case could result in a significant drop in the value of the coin and, hence, it is better to never break the seal. Also, the certificate of authentication is as valuable as the coin itself and one must take utmost care to not lose it. Misplacing the certificate could mean a huge reduction in the price of the coin.
Some Interesting Facts about Gold
The world's fascination for gold precedes any value we may attribute to it today. Here are some facts about the yellow metal:
The total amount of gold mined since the beginning of civilization is 166,600 tons, all of which could fit into a crate of 20 cubic meters.
In 564 BC, the Libyans introduced the first gold coins as currency.
More than 90% of all the gold ever used has been mined since 1848, the Californian Gold Rush.
The largest gold coin ever minted was a 2007 Canadian Maple Leaf, worth a million dollars. The coin, 53cm in diameter, is meant to promote the sales of Canadian Maple Leaf coins.
Nearly 40% of all gold ever mined has been recovered from South Africa.
About 78% of the annual gold supply of the world is made into jewelry. Industries like electronics, medical and dental use up around 12 percent and only the remaining 10 percent is used in financial transactions.
The largest accumulation of monetary gold is at the Federal Reserve Bank of New York, which holds around 147 billion dollars' worth of gold bullion. China and India are the world's largest consumers of gold and the metal holds considerable cultural significance in both nations.
In 2010, gold reached a new economic high 35 times.
Gold holds value for us all, be it as currency, numismatics, investment or because of cultural significance. It has been imperative in the foundation of the world economy.
Copyright (c) 2011 Rod Hoss
ITM Trading offers expert advice in Twenty Dollar Liberty Gold Coins for those buying gold coins.
Article Source: http://www.earticlesonline.com/Article/Numismatic-Gold-Found-in-Temple-Treasure/1192389
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