Gold coins have been in use since the invention of money since this precious metal is rare. Because of this it has always been considered a thing of value by those that used it as a form of currency. There are other reasons why this metal was chosen in particular to create coins. The first of which is the fact that it is relatively easy to work with and its weight is easily transported.
The first gold coins were used as bullion or for collectors. This was what made it initially valuable, plus the fact that it is difficult to counterfeit pure gold because of its density.
The first serious minting of a gold coin was done by the Egyptians in around 2700 to 3000 BC. These items were used mostly as gifts from the Pharaohs to other important people. It was not used again until a few centuries later when a ruler started using gold and silver as money.
For a long time golds primary use was money. It was not until the 20th century that places started minting coins out of other substances and backing them up with gold. There are very few actual gold money coins in use today.
Most gold tokens these days are used as collectors pieces or commemorative coins. Gold bullion is the most known form of gold coin and is only found in collections. The value of these coins is much more than what the metal they are made from is worth — another reason many people choose to buy gold.
There have been several fake gold tokens produced through the ages. Some of these fakes are just as expensive as the real thing due to their rarity. Anything rare is generally worth something.
Like any collectible coin it is not what is in it but how rare it is and how much people will pay for it that matters. At auction some of these rare coins can get up to a few million. A gold coin is only worth what someone is willing to pay for it.
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