Largest Gold Nuggets Discovered: Welcome Stranger And Hand Of Faith...

Gold nuggets are naturally occurring large masses of native gold found in alluvial deposits. Often they are concentrated by watercourses and recovered by placer mining. In other instances, gold nuggets are found in piles of residue in sites where mining operations once took place. Two gold nuggets are noted for being the largest masses of gold ever discovered. These are the “Welcome Stranger” and the “Hand of Faith”. Their respective “largest” titles, however, carry further qualifications. The Welcome Stranger Gold Nugget: The exact distinction given of this gold nugget is: “the largest alluvial gold nugget ever found”. It was discovered on February 5, 1869 at Moliagul, a small township in Victoria, Australia about 37 miles west of the...

posted on: Aug 3, 2014 | author: admin

Gold Standard: Definition And The Three Distinct Kinds...

The gold standard is defined in many different reference materials as a monetary system in which the unit of currency used is a fixed quantity or weight of gold. Under this system, all forms of money, including notes and bank deposits, were freely converted into gold at the fixed price. There are three known kinds of gold standard that have been adopted since the early 1700s – the gold specie, gold exchange, and gold bullion standards. Following is the definition and a brief historical account of each. Gold Specie Standard: In this gold standard, the unit of currency is linked to the gold coins that are in circulation. More specifically, the monetary unit is associated with the unit...

posted on: Aug 3, 2014 | author: admin

Gold As An Investment: Ways Of Investing In Gold...

Four of the nine known precious metals are regarded as investment commodities. Of these four, gold is the most popular. Investing in gold is a way of protecting against crises that may be brought about by economic or political instability or by social unrest. There are at least six ways of investing in gold: Buying gold coins: This is the most popular way of investing in gold. Gold bullion coins are typically priced based on their weight; a premium is added to the gold spot price. Gold coins may be bought or sold over the counter in most Swiss banks. Buying gold bars: This is the most traditional way of investing in gold. As in gold bullion coins,...

posted on: Aug 3, 2014 | author: admin