Gold medals
History of medals - or a medal is not a coin...
The history of medals goes far back in history, dating back to the ancient period. They were minted for various representational purposes, but even though they were coins, they were never circulated but kept as a souvenir. They were called medallions. The first medal that can be considered commemorative was created in the 15th century by the Italian engraver and sculptor Pisanello. The medal depicts the Byzantine Emperor John VIII.
The popularity of the medals quickly spread among monarchs throughout Europe. They used them to depict their military achievements, the birth of descendants, various events, etc. Medals at the time served as a kind of representational device and were usually given to distinguished guests.
Medals experienced a great boom in the 16th century, when they were used as part of clothing, as ornaments and thus played an important aesthetic role. In the 17th and 18th centuries, the production of medals was seen as an important asset of the state. Thus, most medals were produced in state mints and designed by leading engravers.
Nowadays, the medal is also seen as an investment opportunity. However, there is also still confusion between coins and medals.In the following table, we will look at the differences and common features that coins and medals have.
Parameters | Gold medals | Gold coins (rare) |
---|---|---|
Very limited issue size | YES (in pieces,tens,hundreds, thousands) | YES (in pieces, tens, hundreds, thousands) |
High quality mintage - Proof | YES (special mintage) | YES (special embossing) |
Original packaging | YES (original cases in which the medals are delivered) | YES (original cases in which the coins are delivered) |
Certificate | YES (they are certified) | YES (they are certified) |
Rarity | YES (limited edition, no more to be minted) | YES (limited edition, no more to be issued) |
Evaluation | NO ALWAYS (depends on significance, etc.) | YES (appreciates in value over time) |
Quick liquidity | NO (investment for longer time horizon) | NO (investment for a longer time horizon) |
VAT | YES (subject to VAT) | NO (VAT exempt) |
Decrease in the price of gold | NO (the medal retains its value even if the price of the metal falls, it does not fall, it increases over time) | NO (coin retains its value even if the price of the metal falls, does not fall, increases over time) |
Nominal value | NO (no face value) | YES (nominal value) |
Official tender | NO (not official tender) | YES (official currency of the country) |
Minting - official authority | NO (can be minted by a government institution, private entity, etc. | YES (recognized by law, guaranteed by central banks, state) |
Global recognition by investors | NO (local character) | YES (worldwide acceptability) |