Figure of the month: 560

04.02.2019 - News

created by Arnulf Hinkel, financial journalist

It is estimated that gold was discovered by humans sometime around 5,000 BC as one of the first metals ever. The oldest preserved gold artefacts are dated 4,600 to 4,300 BC. Given these dates, and the fact that gold has always been considered valuable by mankind, it is amazing that it took until 560 BC for the first official coin to be produced of pure gold. Gold as a currency has its origin in the kingdom of Lydia, which extended along the Mediterranean coast of Asia Minor in an area around today's city of Izmir in Turkey.

The first gold coin was released in the land of the gold river

Lydia was crossed by rivers, one of which contained enormous quantities of gold, which were created, according to legend, when King Midas washed away his curse – everything he touched turned into gold – in this river. It is a fact that the last king of Lycia, Croesus (in Greek Kroisus), was quite literally rolling in gold, which might be the reason he was the very first to come up with the idea of using the valuable commodity as official currency. For practical reasons, is was shaped into coins and named "Kroiseios" after its creator.

The world's first complete bimetallic currency system

King Croesus did not limit himself to the introduction of a gold coin, but created a complete coin universe, which today is considered the archetype for later currency systems. The largest denomination in the first coin system was the heavy Goldstater with a weight of 10.6 grams. Also, there were the light Goldstater with 8.1 grams, the Trite (1/3 Goldstater), the Hekte (1/6 Goldstater) as well as the Hemihekte (1/12 Goldstater). At the same time, a variant of this coinage system was introduced, using silver instead of gold. The coins corresponded to the gold coins in terms of weight and fragmentation, but were of course of much less value and therefore intended for smaller expenses, while the gold coins were used for long-distance trades and rent payments.

Upcoming Events

28.09.2019 - 28.09.2019

Meistersingerhalle Nürnberg, Münchener Straße 21, 90478 Nürnberg

Börsentag Nuremberg 2019

The financial fair for private investors

12.10.2019 - 12.10.2019

MOA Bogen Stephanstr. 38-43 10559 Berlin-Moabit

Börsentag Berlin 2019

The financial fair for private investors

23.10.2019 - 24.10.2019

Gesellschaftshaus Palmengarten, Palmengartenstraße 11 60325 Frankfurt

Investment Fund Days of Börsen-Zeitung in Frankfurt

Conference/Congress

Youtube channel

Market report - September 2019 (German)

Market report - September 2019 (German)

Opening Bell Event zum 10-jährigen Bestehen von Xetra-Gold (German)

Opening Bell Event zum 10-jährigen Bestehen von Xetra-Gold (German)

Gold als eigene Anlageklasse: Interview mit Steffen Orben (German)

Gold als eigene Anlageklasse: Interview mit Steffen Orben (German)

Newsletter

Are you interested in receiving regular information on Xetra-Gold? Then subscribe to our monthly, free-of-charge newsletter to learn more about our gold holdings, upcoming events and to read our gold market outlook.

Required mandatory fields are marked with an asterisk (*).

Your data, collected for the purpose of sending the above information, will be processed in accordance with the DSGVO, i.e. they are used exclusively for the purposes mentioned above. The data will not be passed on to third parties. You can unsubscribe from our information services at any time using the unsubscribe function.

Further information is available in our complete data protection declaration.

Xetra-Gold Newsletter

We are sorry that you consider to unregister from our newsletter. Are you missing out information? If yes, we are pleased to receive your feedback. Of course, you can always re-register at any later point of time.

Required mandatory fields are marked with an asterisk (*).

Your data, collected for the purpose of sending the above information, will be processed in accordance with the DSGVO, i.e. they are used exclusively for the purposes mentioned above. The data will not be passed on to third parties. You can unsubscribe from our information services at any time using the unsubscribe function.

Further information is available in our complete data protection declaration.

Xetra-Gold Newsletter

Xetra-Gold Hotline

Xetra-Gold-Hotline

Do you have questions? We have the answers. Contact us here: 9 a.m.–6 p.m. CET

+49-(0) 69-2 11-1 16 70

xetra-gold@deutsche-boerse.com

For press inquiries: Tel: +49-(0) 69-2 11-1 47 30

To contact form