Gold is one of the oldest items to be discovered in the world. Today, it is held in high regard across the globe, and people are spending on it. Many people use it to store value, while others invest in expensive jewelry made from gold for prestige.
The gold industry is attractive, and almost everyone wants to be part of it. If you own gold, one question you could be asking is how gold came to be. Or, you could be wondering when it got discovered, by who, and the exact year someone found out that gold exists.
Well, it isn’t easy to find all these details today. Or, the information you could find online may not provide you with a clear picture of the gold discovery. This article will help you understand this by looking into the facts about gold discovery.
Here’s everything you should know.
When Was Gold First Found?
A lot of confusion surrounds the period when gold was first discovered. The fact that it wasn’t easy to document events like today makes tracking such dates difficult. Technology was non-existent at the time when gold was getting discovered, thus the lack of solid evidence.
Gold was discovered at different times across the globe, from the California gold rush to the Ancient Greeks. This makes it difficult to point out the exact period that gold got discovered. But then, you’ll be correct to say that gold has existed for thousands of years. And it has impacted generations, and it is still regarded highly globally.
However, the discovery of gold had massive impacts across the world. For instance, it led to wares, migrations and had a significant effect on world powers. This is because, after its discovery, it proved valuable and easy to work with. Its beautiful nature also grabbed attention quickly.
It is also worth mentioning that people discovered various uses of gold long after discovery. As mentioned before, gold was easy to work with; thus, it didn’t take long to realize its use cases. It, for instance, started to get used in Europe and South America before civilizations began.
Gold is still easy to work with today. People now use it more as a store for value. You can, for instance, use it to multiply your wealth and protect it from the effects of economic crises. You can do that by purchasing gold bars, coins, jewelry, etc.
The gold market is vibrant, and there are dealers for almost every gold product you may need. A dealer like Acre, for instance, is a perfect example of those specialized in gold bars. You can also find other dealers for physical or non-physical gold in every market.
How Was Gold Discovered?
Gold occurs naturally and that’s why it was discovered along river banks. This happened at different times but mainly in Africa and Eurasia. However, it is also unclear how people discovered gold, although archeologists have attempted to unearth these details.
We know the Greeks found gold in the Middle East and Mediterranian in the 500s BCE. Great Britain began using gold coins in the 1200s AD, while the Ancient Egyptians started experimenting with gold alloy in 1200 BCE around the time they constructed Tutankhamun's golden tomb.
James Marshall John Sutter's Fort in 1845 brought gold flakes to California through the South Fork of the American River, growing the population of San Francisco and beginning a hunt for gold that would draw miners from New Jersey to Hawaii to Oregon.
No matter which era of gold discovery you study, you can be sure that gold’s attractive looks must have played a part. Being a shiny yellow metal, pure gold has to capture your attention whether it's gold veins, gold dust, or the golden fleece—mainly if it isn’t amalgamated with other materials. That could be the reason why it got discovered earlier than most metals.
A short time after discovery, people started to work on gold. They could use hammers to make it into different shapes. For instance, they could combine, flatten or shape it whichever way they wanted. This marked the beginning of working with gold, and now it has endless uses.
Gold’s rare features have made it worthwhile for humans thousands of years after its discovery. For instance, it has non-corrosive capabilities that many other metals considered alternatives lack. The significant difference between then and now has been advancement in its forms and uses.
Where Is Gold Found on Earth?
People have mined a lot of gold since it was first discovered. And it has been found on almost every continent in the world over the years. However, three countries—China, Australia, and South Africa—stand out for having produced most of the world’s gold.
Massive gold deposits have also been found in the United States, Canada, Indonesia, Panama, Peru, Japan, India, Mexico, etc. Thus, gold deposits are widespread across the world. Most of these parts of the world no longer produce as much gold as they used to before.
The rarity of gold and the fact that gold production is declining are why it is still so valuable. As you know, the value of any commodity goes down when its supply exceeds demand. However, this has never been the case for gold since the once highly productive gold mines are declining. The price of gold remains high, especially as fewer and fewer ounces are produced each year.
Technology has been vital in ensuring the world doesn’t run out of gold. Today gold processing has become easier for gold professionals. This ensures that no gold gets wasted and helps optimize production, and makes the whole production process cost-effective.
Where in the World Was Gold First Discovered?
We have already mentioned that gold deposits are spread across the world. That’s why it is not easy to say where it got discovered first. However, research has found that gold was first found in Asia Minor, specifically in Ancient Lydia. This is modern-day Turkey.
This is estimated to have happened around 6000 BC. Besides, more happened in that area that shaped the gold industry into what we see today. For instance, it’s said that the first gold coins, minted about 2500 years ago, came from the exact location.
Thus, modern-day Turkey has a rich gold history. It associates with a significant world discovery that has impacted lives over the years. But then, many other locations around the world are mentioned in the discovery of gold. As said before, documentation was a significant issue.
People started to use gold during the stone age period. Thus, civilizations came a long time after humans had discovered that gold is valuable and even put it into use. For instance, they used it to make jewelry, coins, and decorations in Greece, Egypt, Mesopotamia, and Romania.
Of course, the California Gold Rush has its own lore despite occurring hundreds of years after gold's discovery, showing its enduring value. When a carpenter and sawmill operator found shiny golden flecks in the local tailrace water while constructing his lumber mill on the morning of January 24, 1848, Sutter's Mill forever changed the territory of California. Laborers, immigrants, and foreigners flocked to the Sacramento river, showing the enduring value of this precious metal.
The uses of gold haven’t changed much. People still use it to make the same items today. However, it is now majorly traded in bar and coin forms. Dealers like Acre are selling gold bars, but this precious metal wasn’t exchanged for money in ancient times.
How Much Gold Has Been Found in the World?
Another common question is the amount of gold that’s been discovered globally to date. People have found about 244,000 metric tons of gold already. This is until the gold mines worldwide started to deplete, and now not much gold is getting discovered worldwide.
As mentioned earlier, most of this gold has come from three primary locations. The world’s biggest gold producers of all time include China, Australia, and South Africa. The United States, later in 2016, joined the list as the fourth-largest producer of gold in the world.
In a nutshell, all the gold discovered to date could fit into a cube measuring 28 meters on every side. Well, one would think that’s too little for the entire world. However, gold is scarce and doesn’t occur like other metals; thus, that’s not as meager as anyone would think.
Today, technology has impacted gold mining and processing. Working with gold has become even more straightforward than it was in ancient times. Gold now performs critical functions like helping make electronic parts of mobile devices, computers, spacecraft, jet aircraft parts, etc.
The history of gold is long and often confusing. Documenting the happenings during the days of gold discovery was a challenge. This had made it difficult to find details on when it got discovered, where, and who made this great discovery.
However, it's no secret that gold holds power. This article has simplified this by gathering all these details. It had explored all that you needed to know, including when gold got discovered first on earth. It also has looked into the parts of the world that have supplied most of the world’s gold over the years.
It has also looked into how much gold has been found in the world to date. By connecting the past to the present, this article illustrates what gold is all about now. This makes it easy to understand the gold market and invest in it wisely if you want to get into the market.
Speaking of investing, you can now put your money into various forms of gold. The gold market and industry have undergone a massive transformation. Today, you can enter the gold market and invest in different kinds of gold. Gold bars and coins are some of the most common.
But it’s vital to understand the market before you start investing. You can get expert tips on gold bars as an investment option by contacting us at Acre. We will guide you through the basics and help simplify your gold investment journey.