Gold Rush Stories Part 34 - How Much Gold is There?

 

This is a figure difficult to ascertain with absolute certainty. Limiting factors include, the rudimentary technologies and mining techniques of ancient civilisations being one of the factors, Gold reserves aren’t exactly something that governments necessarily disclose to other nations freely either, which makes it difficult to put an exact number of the amount of gold mined throughout human history. However, a figure that is widely used by investors comes from Thomson Reuters GFMS, which produces an annual gold survey, estimating that number to be in the vicinity of 171,300 tonnes. 

According to estimates from the US Geological Survey  there are 52,000 tonnes of minable gold still in the ground and more is likely to be discovered. According to gold historian Timothy Green, gold has been mined for more than 6,000 years. The earliest archeological evidence of gold coins being minted occurred around 550 BC under King Croesus of Lydia - a province in modern-day Turkey – rapidly adopted by the local merchants and mercenary soldiers throughout the Mediterranean as an accepted means of currency.

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BERNARD HOLTERMANN AND THE HOLTERMANN NUGGETT B.O. Holtermann with the Holtermann gold nugget, Hill End, New South Wales, ca.1872 

https://nla.gov.au:443/tarkine/nla.obj-148020196

Gold miners pose at their mine with the Clerk of Petty Sessions, L.S. Donaldson and the flag indicating a strike, Gulgong area Gold miners pose at their mine with the Clerk of Petty Sessions, L.S. Donaldson and the flag indicating a strike, Gulgong area

https://search.sl.nsw.gov.au/primo-explore/fulldisplay?docid=ADLIB110040056&context=L&vid=SLNSW&search_scope=MOH&tab=default_tab&lang=en_US

 

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Weights of reef gold taken by Holtermann from the Star of Hope mine, Hill End

https://collection.sl.nsw.gov.au/record/nV2pzJvn

 

Reef gold from the Star of Hope mine, Hill End, New South Wales, ca. 1872

https://nla.gov.au:443/tarkine/nla.obj-147997985

 

Steam donkey driving gold mine pit head machinery, Trunkey, New South Wales, ca. 1873

https://nla.gov.au:443/tarkine/nla.obj-148014785

1855 Sydney Sovereign 

https://coinworks.com.au/1855-Sydney-Mint-Sovereign-Good-Extremely-Fine~32532

Gold coin of Croesus, Lydian, around 550 BC, found in what is now modern Turkey

https://en.wikipedia.org/wiki/Croeseid

Electrum trite, Alyattes, Lydia, 620-563 BC

 

Croeseid bimetallic equivalence: 1 gold Croeseid of 8.1 grams was equivalent in value to 10 silver Croeseids of 10.7 grams.

https://en.wikipedia.org/wiki/Croeseid

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