Gold in the Middle Ages: 500 - 1500

Even in the Middle Ages, gold remained very attractive. Charlemagne was known for using large amounts of gold stolen from conquered countries. This gave him control over almost all of Western Europe. Charlemagne had his image struck into all coins, keeping the tradition of the Roman emperors alive. Between 1284 and 1300 AD, the gold ducat was introduced in Venice and Great Britain issued the florin; its first gold coin. In the five centuries that followed, the ducat was the most popular gold coin worldwide. 

At about the same time during this period, gold mines in West African Mali were working overtime. Half of all the world's gold came from there at one point. When the king of Mali, Mansa Musa, travelled to Mecca in 1324, he distributed so much gold there that the price of gold in Egypt plummeted and was severely depressed for 10 years.
In 1377, England switched to a monetary system based entirely on gold and silver. 

Disclaimer: The Silver Mountain does not provide investment advice and therefore this article should not be considered as such. Past results do not guarantee future results.