How was the connection made between gold and material goods?
GoldenEyeNumismatics
Posts: 13,187 ✭✭✭
This was a question brought up by Fred Holabirf in the Pioneer GOld course at second session Summer Seminar this year.
He asked (and there isn't really a correct answer)--
When and where was the connectin made between gold and wealth. Who decided that this yellow metal was equivelent to a certain portion of meat, or clothing, or was worthy as a type of payment. Ultimately, you can't really use gold for any survival purposes--you can't eat it, wear it, grow it, etc. It just looks and feels cool. How did someone decide it had a value comparable to essential goods?
Greed? But greed usually only relates to someone's hoarding of something because it brings them power. Who decided that gold equalled power/money?
He asked (and there isn't really a correct answer)--
When and where was the connectin made between gold and wealth. Who decided that this yellow metal was equivelent to a certain portion of meat, or clothing, or was worthy as a type of payment. Ultimately, you can't really use gold for any survival purposes--you can't eat it, wear it, grow it, etc. It just looks and feels cool. How did someone decide it had a value comparable to essential goods?
Greed? But greed usually only relates to someone's hoarding of something because it brings them power. Who decided that gold equalled power/money?
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Comments
He who has the gold, rules.
Interesting read about Gold in different Civilizations
special place as a commodity since it gradually acquired its role as money. Most
everyday commerce was conducted in barter but large transfers were more likely
to involve gold sooner.
Gold was more common than lead or silver in ancient Egypt. Lead was prized
for its low melting point and silver as solder for bronze.
Generally, the prices of all things are determined by the combined psychology of
all market participants. As they come to believe something is valued improperly
by the market, their behavior changes and this causes the change in supply and
demand.
<< <i> As they come to believe something is valued improperly
by the market, their behavior changes and this causes the change in supply and
demand. >>
But how was the connection between gold and value made? That's what I'm asking--it doesn't really have an answer though
<< <i>But how was the connection between gold and value made? That's what I'm asking--it doesn't really have an answer though
no true answer...but to early man....gold represented a spirit...an unknown....and most things of value were first based in religious beliefs...
taken from an online source on gold I post above....
>>>All civilizations, with the exception of the early kingdoms of China and Japan, valued and coveted gold. From the earliest times it was sought after for its shiny, golden color, which many people believed to have spiritual or magical powers.
gold become an expression of light in the church, also held to represent the eternity of God because of its indestructibility, like the glow of the Holy spirit.<<
<< <i>
<< <i> As they come to believe something is valued improperly
by the market, their behavior changes and this causes the change in supply and
demand. >>
But how was the connection between gold and value made? That's what I'm asking--it doesn't really have an answer though
Each individual values things differently. If someone thinks gold is overvalued
then he buys little or none of it depending on his needs. If he thinks it's under-
valued then he's far more likely to be a buyer and to maximize what he buys re-
lative to what he needs. It is the net demand compared to the available supply
which drives price. The market tends to be inefficient much of the time and de-
mand isn't always met just as sellers might not find a buyer, but the market will
drift toward an equilibrium price expressed in dollars, yen, IBM, or another com-
modity.
Some markets are highly inefficient and there can be powerful outside forces im-
posed on markets now days but everything is always seeking the balance point
between supply and demand. Just as ideas drive behavior, they also drive the
collective buying and selling decisions of traders and consumers.
TD
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
All values on gold around the world have come from the Ancient Egyptians...all religions are based from the same humble beginnings.
<< <i>When and where was the connectin made between gold and wealth. Who decided that this yellow metal was equivelent to a certain portion of meat, or clothing, or was worthy as a type of payment. Ultimately, you can't really use gold for any survival purposes--you can't eat it, wear it, grow it, etc. It just looks and feels cool. How did someone decide it had a value comparable to essential goods? >>
Aside from the "looks and feels cool", you could just as easily ask the same quesion about paper.
Check this out Link
GOLD
gold (zahabh; chrusos):
1. Terms:
No metal has been more frequently mentioned in Old Testament writings than gold, and none has had more terms applied to it. Among these terms the one most used is zahabh. The Arabic equivalent, dhahab, is still the common name for gold throughout Palestine, Syria and Egypt. With zahabh frequently occur other words which, translated, mean "pure" (Ex 25:11), "refined" (1 Ch 28:18), "finest" (1 Ki 10:18), "beaten" (1 Ki 10:17), "Ophir" (Ps 45:9).
Other terms occurring are: paz, "fine gold" (Job 28:17; Ps 19:10; 21:3; 119:127; Prov 8:19; Song 5:11,15; Isa 13:12; Lam 4:2); charuts (Ps 68:13; Prov 3:14; 8:10,19; 16:16; Zec 9:3); kethem, literally, "carved out" (Job 28:16,19; 31:24; Prov 25:12; Lam 4:1; Dan 10:5); ceghor (1 Ki 6:20; 7:50; Job 28:15); betser (in the King James Version only: Job 22:24; the Revised Version (British and American) "treasure").
2. Sources:
Sources definitely mentioned in the Old Testament are: Havilah (Gen 2:11,12); Ophir (1 Ki 9:28; 10:11; 22:48; 1 Ch 29:4; 2 Ch 8:18; 9:10; Job 22:24; 28:16; Ps 45:9; Isa 13:12); Sheba (1 Ki 10:2,10; 2 Ch 9:1,9; Ps 72:15; Isa 60:6; Ezek 27:22; 38:13); Arabia (2 Ch 9:14). We are not justified in locating any of these places too definitely. They probably all refer to some region of Arabia.
The late origin of the geological formation of Palestine and Syria precludes the possibility of gold being found in any quantities (see METALS), so that the large quantities of gold used by the children of Israel in constructing their holy places was not the product of mines in the country, but was from the spoil taken from the inhabitants of the land (Nu 31:52), or brought with them from Egypt (Ex 3:22). This gold was probably mined in Egypt or India (possibly Arabia), and brought by the great caravan routes through Arabia to Syria, or by sea in the ships of Tyre (1 Ki 10:11,22; Ezek 27:21,22). There is no doubt about the Egyptian sources. The old workings in the gold-bearing veins of the Egyptian desert and the ruins of the buildings connected with the mining and refining of the precious metal still remain. This region is being reopened with the prospect of its becoming a source of part of the world's supply. It might be inferred from the extensive spoils in gold taken from the Midianites (œ100,000 HDB, under the word) that their country (Northwestern Arabia) produced gold. It is more likely that the Midianites had, in turn, captured most of it from other weaker nations. The tradition that Northwestern Arabia is rich in gold still persists. Every year Moslem pilgrims, returning from Mecca by the Damascus route, bring with them specimens of what is supposed to be gold ore. They secure it from the Arabs at the stopping-places along the route. Samples analyzed by the writer have been iron pyrites only. No gold-bearing rock has yet appeared. Whether these specimens come from the mines mentioned by Burton (The Land of Midian Revisited) is a question.
3. Forms:
Gold formed a part of every household treasure (Gen 13:2; 24:35; Dt 8:13; 17:17; Josh 22:8; Ezek 28:4). It was probably treasured (a) in the form of nuggets (Job 28:6 the Revised Version, margin), (b) in regularly or irregularly shaped slabs or bars (Nu 7:14,20,84,86; Josh 7:21,24; 2 Ki 5:5), and (c) in the form of dust (Job 28:6). A specimen of yellow dust, which the owner claimed to have taken from an ancient jar, unearthed in the vicinity of the Hauran, was once brought to the writer's laboratory. On examination it was found to contain iron pyrites and metallic gold in finely divided state. It was probably part of an ancient household treasure. A common practice was to make gold into jewelry with the dual purpose of ornamentation and of treasuring it. This custom still prevails, especially among the Moslems, who do not let out their money at interest. A poor woman will save her small coins until she has enough to buy a gold bracelet. This she will wear or put away against the day of need (compare Gen 24:22,53). It was weight and not beauty which was noted in the jewels (Ex 3:22; 11:2; 12:35). Gold coinage was unknown in the early Old Testament times.
4. Uses:
(1) The use of gold as the most convenient way of treasuring wealth is mentioned above. (2) Jewelry took many forms: armlets (Nu 31:50), bracelets (Gen 24:22), chains (Gen 41:42), crescents (Jdg 8:26), crowns (2 Sam 12:30; 1 Ch 20:2), earrings (Ex 32:2,3; Nu 31:50; Jdg 8:24,26), rings (Gen 24:22; 41:42; Jas 2:2). (3) Making and decorating objects in connection with places of worship: In the description of the building of the ark and the tabernacle in Ex 25 ff, we read of the lavish use of gold in overlaying wood and metals, and in shaping candlesticks, dishes, spoons, flagons, bowls, snuffers, curtain clasps, hooks, etc. (one estimate of the value of gold used is œ90,000; see HDB). In 1 Ki 6 ff; 1 Ch 28 f; 2 Ch 1 ff are records of still more extensive use of gold in building the temple. (4) Idols were made of gold (Ex 20:23; 32:4; Dt 7:25; 29:17; 1 Ki 12:28; Ps 115:4; 135:15; Isa 30:22; Rev 9:20). (5) Gold was used for lavish display. Among the fabulous luxuries of Solomon's court were his gold drinking-vessels (1 Ki 10:21), a throne of ivory overlaid with gold (1 Ki 10:18), and golden chariot trimmings (1 Ch 28:18). Sacred treasure saved from votive offerings or portions dedicated from booty were principally gold (Ex 25:36; Nu 7:14,20,84,86; 31:50,52,54; Josh 6:19,24; 1 Sam 6:8,11,15; 2 Sam 8:11; 1 Ch 18:7,10,11; 22:14,16; Mt 23:17). This treasure was the spoil most sought after by the enemy. It was paid to them as tribute (1 Ki 15:15; 2 Ki 12:18; 14:14; 16:8; 18:14-16; 23:33,15), or taken as plunder (2 Ki 24:13; 25:15).
5. Figurative:
Gold is used to symbolize earthly riches (Job 3:15; 22:24; Isa 2:7; Mt 10:9; Acts 3:6; 20:33; Rev 18:12). Finer than gold, which, physically speaking, is considered non-perishable, typifies incorruptibility (Acts 17:29; 1 Pet 1:7,18; 3:3; Jas 5:3). Refining of gold is a figure for great purity or a test of (Job 23:10; Prov 17:3; Isa 1:25; Mal 3:2; 1 Pet 1:7; Rev 3:18). Gold was the most valuable of metals. It stood for anything of great value (Prov 3:14; 8:10,19; 16:16,22; 25:12), hence was most worthy for use in worshipping Yahweh (Ex 25 ff; Rev 1:12,13,10, etc.), and the adornment of angels (Rev 15:6) or saints (Ps 45:13). The head was called golden as being the most precious part of the body (Song 5:11; Dan 2:38; compare "the golden bowl," Eccl 12:6). "The golden city" meant Babylon (Isa 14:4), as did also "the golden cup," sensuality (Jer 51:7). A crown of gold was synonymous with royal honor (Est 2:17; 6:8; Job 19:9; Rev 4:4; 14:14). Wearing of gold typified lavish adornment and worldly luxury (Jer 4:30; 10:4; 1 Tim 2:9; 1 Pet 3:3; Rev 17:4). Comparing men to gold suggested their nobility (Lam 4:1,2; 2 Tim 2:20).
James A. Patch
Cashback from Mr. Rebates
<< <i>Yes, but how did it become "wealth" is his question. I share your frustration at the "answers", GEN. Me, I think it was pretty to them first, heavy and malleable, so trinkets could be made. How's that for a start? >>
Somebody with a perishable commodity (a farmer with wheat or meat or milk; a brewer with a pot of beer) that he could not consume before it spoilt traded it for an imperishable commodity (gold) that would last. Other producers would then take it for their commodities that the original producer needed. Don't expect to find a recorded history of this event.
The Law of Supply and Demand worked before it was written down. Gold was always in short supply, and there was a demand for it, so it had value. In one of the late Douglas Adams' "Hitchhiker's Guide to the Universe" books, some primitive humans land on a primitive planet (Earth) and decide to make tree leaves currency. Come Fall, it takes an entire deciduous forest to buy one ship's peanut.
<< <i>Gold is mentioned throughout the bible.
>>
Gold "nbw" is hardly mentioned in the pyramid texts. These go far back probably
to a time that gold was hardly used except for jewelry and trade. King Tut came
along much later at a time when gold had acquired some monetary properties.
Some of the pyramid texts are believed to pre-date writing.
The bible wasn't begun until the 7th century BC but some of the material in it pro-
bably dates back much further; there's no doubt the ideas do.
Recorded history, of course, starts with the advent of writing around 3000 BC.
Gold as money dates to about the 7th century BC as well, but it had some mone-
tary properties for at least a couple or few hundred years earlier.
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
I read this book a couple years ago, an interesting and readable little book, covers rice, chocolate, Yap, gold and more.
Cathy
edited to add: Ran across this one while searching at Amazon, it looks like a good read and more specific to gold itself...The Power of Gold: The History of an Obsession
It's really simple. Take pure gold, hammer into a sheet, polish highly, them look at your own reflection. The answer then becomes clear. Mike
Steve is right. The greatest motivator of men is women. Otherwise, we'd all still be neked in teepees.
And secondly, I think the fact that gold does not corrode must have had something to do with it becoming valuable.
It is interesting to note that at one time Aluminum was far more valuable than gold.