Long before gold was used as currency and minted into coins, it was an object of immense value to the ancient civilizations of Egypt and Sumer. It was highly prized for its scarcity, malleability, and aesthetic appeal. Before the advent of coinage, gold was used in trade but was not considered money in the modern sense. Instead, it circulated as jewelry, rings, or raw ingots. Because these items lacked standardization, every single transaction required the gold to be painstakingly weighed and tested for purity. While it functioned well as a store of wealth for sovereigns and a unit of account for large, state-level ... (full story)