- published: 28 Mar 2013
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Gold mining is the removal of gold from the ground. There are several techniques and processes by which gold may be extracted from the earth.
It is impossible to know the exact date that humans first began to mine gold, but some of the oldest known gold artifacts were found in the Varna Necropolis in Bulgaria. The graves of the necropolis were built between 4700 and 4200 BC, indicating that gold mining could be at least 7000 years old.
Gold objects are plentiful in the Bronze age, especially in Ireland and Spain, and there are several well known possible sources.
Romans used hydraulic mining methods, such as hushing and ground sluicing on a large scale to extract gold from extensive alluvial deposits, such as those at Las Medulas. Mining was under the control of the state but the mines may have been leased to civilian contractors some time later. The gold served as the primary medium of exchange within the empire, and was an important motive in the Roman invasion of Britain by Claudius in the first century A.D., although there is only one known Roman gold mine at Dolaucothi in west Wales. Gold was a prime motivation for the campaign in Dacia when the Romans invaded Transylvania in what is now modern Romania in the second century A.D. The legions were led by the emperor Trajan, and their exploits are shown on Trajan's Column in Rome and the several reproductions of the column elsewhere (such as the Victoria and Albert Museum in London).
Gold Bug is a (sometimes pejorative) term used to describe investors who are very bullish on buying the commodity gold (XAU - ISO 4217). It can also be used to refer to a person who opposes or criticizes the use of fiat currency and supports a return to the use of the Gold Standard or some other currency system based on the value of gold and other hard assets. A third use is to refer to someone who considers one commodity, usually gold, "the appropriate measure of wealth, regardless of the quantity of other goods and services that it can buy".
The term was popularized in the 1896 US Presidential Election, when William McKinley supporters took to wearing gold lapel pins, gold neckties, and gold headbands in a demonstration of support for gold against the "silver menace", though the term's original use may have been in Edgar Allan Poe's 1843 story "The Gold-Bug," about a cryptographic treasure map.