The History of Gold Mining
Gold has been a symbol of wealth for thousands of years. In ancient times it was used as currency, wealthy to the many civilizations, including the Phoenicians, Egyptians, Indians, and the Chinese. Some of the oldest gold artifacts are around 6,000 years old! Some of the oldest gold was traded between the Egyptians and the Nubians. It has also been found in early African jewelry and decorations. Spain also mined a lot of gold, in around 700 BC. The Romans even payed there soldiers in gold. Once Europeans settled in North America, they discovered gold. It was in 1849 where the large amounts of gold were found in California. The Gold Rush had begun! Many ventured out west to try to strike it rich, but very few ever did.
Gold was a very expensive metal. In the Gold Rush of 1849, there was an estimated $2 billion worth of the metal extracted from the area. At that time, gold was sold at about $20 per ounce. Today, it is one of the most valuable metals, at approximately $1,480 an ounce. The supply was very high at that time, making it less expensive. People have mined approximately $8,487,797,102,400 worth in gold throughout history. Thats about 3.42 Olympic Swimming Pools of Gold!
Gold was a very expensive metal. In the Gold Rush of 1849, there was an estimated $2 billion worth of the metal extracted from the area. At that time, gold was sold at about $20 per ounce. Today, it is one of the most valuable metals, at approximately $1,480 an ounce. The supply was very high at that time, making it less expensive. People have mined approximately $8,487,797,102,400 worth in gold throughout history. Thats about 3.42 Olympic Swimming Pools of Gold!