lbma bibliography of books on gold and · pdf filelbma bibliography of books on gold and...

LBMA Bibliography of Books on GOLD and SILVERcompiled and edited by Timothy Green

Michael Allchin ChiefExecutive,TheBirminghamAssayOffice,andAssayMaster

David Beasley and Librarian,andAssistantLibrarianrespectivelyatGoldsmithsCompany,LondonEleni Bide

Paul Burton ManagingDirector,ThomsonReutersGFMS

Dr Kevin Clancy Director,RoyalMintMuseum,Llantrisant

Dr Chris Corti COReGOLDTechnologyConsultancy,London

Neil Courtis FormerExecutiveEditor,CentralBankingPublications

Mike DiRienzo ExecutiveDirector,TheSilverInstitute,WashingtonDC

Barry Eichengreen ProfessorofEconomicsandPoliticalScience,DepartmentofEconomics, UniversityofBerkeley,California

Sam Etris TechnicalConsultant,TheSilverInstitute,WashingtonDC

Mark Grimwade MetallurgicalConsultanttoTheWorshipfulCompanyofGoldsmithsand ProfessionalMemberoftheInstituteofMaterials,MineralsandMining,UK

Dippal Manchanda ChiefAssayer,TheBirminghamAssayOffice

Shayne McGuire ManagingDirector,HeadofGlobalResearch,GBIGoldFund,Teacher RetirementSystemofTexas

Frederic Panizzutti SeniorVicePresident,GlobalHeadofSales&Marketing,MKSFinanceSA, Geneva

Jonathan Spall DirectorofCommodities,BarclaysCapital,London

Special recommendations by:

The London Bullion Market Association13-14BasinghallStreetLondonEC2V5BQ

Tel:+442077963067Fax:+442077962112www.lbma.org.ukemail:[email protected]

IntroductionThisselectbibliographyfocusesonthemostimportantbookscoveringvariousaspectsofgoldandsilver.Itisnotintendedtobeacompletelistingofbooks,butinsteadacrèmedelacrèmelistofimportantworksforeachsubject.Theexpertslistedbelowhavekindlyprovidedrecommendationsfromtheirspecialities,includingashortparagraphoneachexplainingwhytheyhavechosenthetitle.Allbooksarelistedbyauthor,publisher,dateofpublicationandISBNnumberorLibraryofCongresscataloguecard,whenavailable.Whilebooksmaybeoutofprint,theyareoftenavailableinlibrariessuchasTheBankofEnglandLibrary,TheWorshipfulCompanyofGoldsmiths’LibraryandtheLondonLibrary.Almosteverybooklistedisalsoavailablesecond-handonabebooks.comorabebooks.co.uk.TheLBMAwouldliketothankalloftheexpertswhotookpart,andofcoursetoTimothyGreenwhobothproposedandco-ordinatedthiswork.Commentsonthisfirsteditionandsuggestions(withdetailsandcomments)forotherbookstobeincludedinfutureeditions-oradditionalsubjectareas–wouldbewelcomed.TheseshouldbesenttotheChiefExecutive.

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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green

Assaying & Hallmarking

Bank of England/Central Banks

Coins/Mints

Gold/General

Gold/Investment

Gold/Metallurgy

Gold & Silver Jewellery/

Art & Design

Gold & Silver Jewellery/Technical

Gold Standard

Gold Rushes

History/Parliamentary Reports

Markets

Mining/Modern

Precious Metal Money

Science/Technology

The top 15 recommendations of useful books

J.S.Forbes,A History of the London Assay Office,1999

LiaquatAhamed,Lords of Finance: The Bankers Who Broke the World,2009

C.E.Challis(editor),A New History of the Royal Mint,1992

SusanLaNiece,Gold,2009

ShayneMcGuire,Hard Money: Taking Gold to a Higher Investment Level,2010

T.K.Rose&W.A.C.Newman,The Metallurgy of Gold,1937

ClarePhillips,Jewelry from Antiquity to the Present,1996

OppiUntracht,Jewellery Concepts & Technology,1982

BarryEichengreen,Globalizing Capital: A History of the International Monetary System,2ndedition,2008

W.P.Morrell,The Gold Rushes,1968

ReportoftheHouseofCommonsSelectCommitteeontheHighPriceofGoldBullion,1810

ErnestSeyd,Bullion and Foreign Exchanges,1868

HowardHartman&JanMutmansky,Introductory Mining Engineering,2ndedition,2002

SirAlbertFeaveryear,The Pound Sterling, A History of English Money,2ndedition,1963

ChristopherCorti&RichardHolliday,Gold _ Science and Applications,2010

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Assaying & Hallmarking 4

Bank of England & Central Banks 7

Coin/Mints 10

Gold General 16

Gold Investment 18

Gold Metallurgy �0

Gold & Silver Jewellery/Art & Design �1

Gold & Silver Jewellery/Technology ��

Gold Standard & Monetary Gold �4

Gold & Silver Watches �0

History/Bimetallism �1

History/Gold Rushes ��

History/Mining/Gold & Silver �5

History/Parliamentary Reports �8

History/Silverware & Plate 40

History/Treasures 4�

Markets/Trading 45

Mining/Modern 47

Precious Metal Money 5�

Refining & Bars 56

Science/Technology 58

Silver/General 6�

Silver/India 6�

Categories

All books are listed by author, publisher, date of publication and ISBN number or Library of

Congress catalogue card, when available. While books may be out of print, they are often

available in libraries such as The Bank of England Library, The Worshipful Company

of Goldsmiths’ Library and the London Library. Almost every book listed is also available

second-hand on abebooks.com or abebooks.co.uk.

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Books specially recommended by Michael Allchin, Chief Executive & Assay Master,

The Assay Office, Birmingham & Dippal Manchanda, Chief Assayer, Birmingham Assay Office:


Author, Book Details Review

Edward E. Bugbee,A Textbook of Fire Assaying,ColoradoSchoolofMinesPress,2010.ISBN1152050052

Ernest A. Smith,The Sampling and Assay of the Precious Metals,Met-ChemResearch,Inc.,2010.ISBN1146909160

William Chaffers,Hallmarks on Gold & Silver Plate,revisedtablesofAnnualDateLettersintheAssayOfficesofEngland,Scotland&Ireland.Extendedandenlarged,andwiththeadditionofNewDateLettersandMarks,andabibliographyalsoincorporatingMakers’MarksfromtheGildaAurifabrorum.10thedition,1922,editedC.A.Markham,Reeves&Turner,London,1922.(ShortenedversionasHand Book of Silver and Gold Marks,WordsworthEditionsLtd,1989.ISBN1853269344/1-85326-934-4)

Thisisapracticalbookaimedatthe‘beginningassayer’andpaysparticularattentiontothefireassayofminingandoresamples.Whilesomeoftheseproceduresarequiteoldtheycanstillbefollowedtodayusinginexpensivebasicequipmentavailabletothewould-beassayer.Theprinciplesareclearlyexplainedandifyouapplyamoderntouch,youcanstillachievereallyexcellentresultsusingthistextasabasis.EdwardE.Bugbee’sbookdealswiththebasicprinciplesofFireAssayingandoutlinesthescientificreasonsformanyofthephenomenonthatoccur,aswellastherationaleofeachprocessanddetailofmanipulation.Theauthorhasdrawnextensivelyfromhisownwealthoffirsthandexperience.Thisbookcontainsalmostallaspectsofthetechniquesusedinfireassayandsmelting.Worthreadingtoimproveyourunderstandingofthissubject.(MA/DM)

Thisbookisaimedatstudentsandsogoesintogreatdetail.Theassayingofsilverandgoldinalloys,ores,concentratesandothermaterialsaregenerallydeterminedbytheclassicallead-basedfireassaymethod,alsointerestinglyplatinumgroupmetalssuchasPt,Pd,Rh,Ir,RuandOsareoftenseparatedorconcentratedbythefireassayprocess.Thisbookoutlinesthebasicconceptinvolvedinthisprovenmethodologyandrelatedaspectsinaclearandconvincingmanner.Includedarethesourcesoferrorassociatedwiththefireassaytechnique,andthisinformationcanbethebasisforintelligentimprovementstofireassayinthefuture.Alsoincludedaredescriptionsoftechniquesfordeterminationofthenoblemetals,withparticularfocusontheseparationofanalysisofplatinumgroupmetals.Thisbookdeservestobecarefullystudiedbyallassayersinthepreciousmetalfield;theywillberewardedfortheirefforts.(MA/DM)

ThefirsteditionofChaffers’classicHallmarksonGold&SilverPlatecameoutin1883,andwasexpandedatregularintervalsuntilhisdeath;this10theditionbeingeditedbyC.A.Markham.Thebasicprinciplewassimple,assetoutin1363,“everygoldsmithshouldhaveamarkforhimself,whichwassetonhiswork,afterithadbeenassayedandthesurveyorhadsetonittheKing’smark”.AllthisunderthewatchfuleyeoftheWorshipfulCompanyofGoldsmiths,whoaddeditsownrulesandregulations.Thediversityofarticlestobehallmarkedrangedoverecclesiasticalplate,chalices,flagons,almsdishes,coronationplate,corporationplate(fortheCityofLondon),corporateplate,domesticplate,standingcups,beakers,porringers,standingsalts,spoons,forksandcandlesticks.Themark,ofcourse,wastheguaranteeofpurity.TheaddedGildaAurifabrorum(GuildofGoldsmiths)tracesindividualgoldsmithsbackbefore1000ADandshowsby1200awell-organisedGuildwithitsownStatutesandOrdinances.Alltold,aclassicpieceofresearchintothegoldtradeinLondonforathousandyears.(TG)

Other recommendations by Timothy Green:


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J. S. Forbes,Hallmark, A History of the London Assay Office,TheGoldsmiths’Company,UnicornPress,London,1999.ISBN0906290260

Arthur G. Grimwade,London Goldsmiths 1697-1837, Their Marks and Lives,fromtheoriginalsourcesatGoldsmiths’HallandOtherSources,Faber&Faber,London,1976.ISBN0571105505

Makers’ Marks of Dutch Gold and Silversmiths 1814-1993,GovernmentPublishingOffice,TheHague,1981.Vol.1.Meestertekens van Nederlandse Goud-en Zilversmedan.ISBN9012034795(textinDutchandEnglish).Vol.II,1963-80.ISBN9012033519

Dorothy T. Rainwater,American Silver Manufacturers,EverybodysPress,Hanover,Pennsylvania,1966.LibraryofCongressNo.66-23531

JohnForbes,aformerDeputyWardenoftheLondonAssayOffice,spentsevenyearsonthisdefinitivehistoryonsevencenturiesofassayingandhallmarking.TheAssayOfficewonitsfirstRoyalCharterin1327.Firmstandardsweresetandmaintainedfortroyweightsandgoldandsilverassays.TheAssayOfficewascentralinthetesting(TrialofthePyx)ofnewgoldandsilvercoins,plusthehallmarkingofplate.TheannualweightsandnumberofsilverarticleshandledbytheOfficearerecordedfrom1560andgoldfrom1773,withthedistincthallmarksforeachyearfrom1478-1999reproduced.AnextensiveglossaryexplainsspecifictermsfromAssaytoWorseorBetter(expressingthefinenessofgoldorsilveralloysbyreferencetoaparticularstandard).Anabundanceofillustrationsshowstouchstonesandtouchneedles,silverandgildedcupsandsaltcellars.Truly,auniquebook.(TG)

ArthurGrimwadehasdiligentlytraced3,910goldsmithsandsilversmithsworkinginLondonthroughthe18thcenturyasgoldsuppliesincreaseddramaticallyfrommininginBrazil,whilethegoldpriceremainedfixed.TheywerecarefullyregisteredatGoldsmiths’Hall,withtheirownindividualmarksanddividedintoLargeworkersandSmallworkers,accordingtotheirspeciality.Sowefindthembusywitheverythingingoldorsilverfromteaspoonsandcandlestickstotablebells,pairsofsugarnippers,teacaddies,children’smugs,smallbleedingbowls(forbloodletting),snuffboxes,inkstandsandsaltcellars.Intriguingly,GrimwadethencompiledTheBiographicalDictionaryofMakers,eachwithalittlereviewoftheirworkinglives.(TG)

Thisbilingualguidetomakers’marksisprefacedwithashorthistoryonthehallmarkingofgold,silverandplatinumintheNetherlands.AsinEngland,bythe13thcentury,goldsmithsandsilversmithsappliedtheirownstampoforigintoeacharticle.By1275,PhiliptheBoldwasobligingthemtoaddthesymbolofthetownorcitywheretheyworked.Littleoftheirworkhassurvived,withtheoldestknownmarkdated1382.Initially,assayingwaserraticbut,in1502,anorderrequiredgoldtobe19caratand3grains,withgoldfiligreeatleast22carat.Silverhadtobe11derniers,8grains.Themarksofseveralhundredgoldandsilversmithsarelistedafter1814.(TG)

Earlycolonialsilvermakershadnoformalhallmarkingsystem,sooftenmarkedtheirwareswithastampcontainingthefirstinitialoftheirgivennameandsurnameinashapeddevicesuchasasquare,heartorrectangle.By1725,themaker’snamewasoftenstampedinfullorwithimitationsofEnglishhallmarks,butdidnotincludeadatestamp,soassigningthesespecificyearsisdifficult.BaltimorehadanAssayOfficefrom1814-1830,whichdidcopyEnglishstyle.Butuntilthe1840ssilversmithsworkedasindividualsworkingdirectlyfortheirbuyer.Onlythendidthemanufacturingofsilverbycompaniesbegin,andnotuntil1896didthemagazineJeweler’sCircularpublish‘TradeMarksofJewelry’.ThathasnotthwartedDorothyRainwater,whotrackeddownmorethan1,500companies,withtheirnamesandhallmarks,andwhattheymade.SoGeorgeC.AdamswasaBaltimoresilversmithin1864,CattaraugusCutleryCo.,inLittleValley,NewYork,madeYukonSilvercutleryat98-100fineby1876,whileTiffanyhadalreadyintroducedEnglishsterlingsilverin1852.Thisisausefuldirectoryforanyoneseekingtotracktheoriginsoftheirfamilysilver.(TG)


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Geoffrey Watts,Russian Silversmiths’ Marks1700-1917,editedbyGeorgePerrott,GeminiPublications,Bath,2006.ISBN0953063771

SincethecollapseoftheSovietUnionandRussia’sentryontheworldartmarket,silverarticleshaveturnedupincreasinglyinauctions,promptinganeedforverificationofmarks.AsGeoffreyWattsadmits,“buyerbeware”.Tohelpmatters,hehastracedalmost4,000goldsmithsand(mostly)silversmithsandtheirmarks.Priorto1700,themarkingofsilverwashaphazard.Eachlargemonasteryhadasilverworkshopmakingplateandreligioustrinkets,whichthepriestorpatriarchblessed.PetertheGreatchangedallthatin1700byorderingstandardfinenessat875fine(84Russianzolotniks)andassayofficesinmajorcities.Tradeguildswereencouragedfrom1722.Inpractice,StPetersburgbecamethecentrearoundthecourtoftheTsar,towhichEuropeangoldandsilversmithsmigrated.ThefirstprominentmakerwasJean-PierreAdorfromSwitzerland.Therepertoirereflectedcourtlife–dreamjugs,bonbondishes,elaboratecoffeepotsandsilvercigarettecasesinlaidwithgold.AllthisstoppedabruptlywiththeRevolutionin1917,butthelegacyispreservedinwesternauctionstoday.Checkthehallmarkinthisbook.(TG)


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Book specially recommended by Neil Courtis, former Executive Editor, Central Banking Publications:

Bank of England and Central Banks


LiaquatAhamed,LordsofFinance,TheBankersWhoBrokeTheWorld,Heinemann,London,andThePenguinPress,NewYork,2009.ISBN9780434015412

Richard S. Sayers,Central Banking Under Bagehot,OxfordUniversityPress,Oxford,UK,1957.ISBN0-198281269

James C. Baker,TheBankforInternationalSettlements,EvolutionandEvaluation,QuorumBooks,Westport,Conn.andLondon,2002.ISBN1-56720-518-6LibraryofCongress20001049184

AhamedLiaquat,aNewYorkinvestmentmanageradvisinghedgefunds,satwritingthisbookintheautumnof2008asthefinancialworldcollapsedinthegreatestcrisissincetheGreatDepression.AtimelymomenttobereflectingonwhathecallstheLordsofFinance,thekeycentralbankersinthedecadesrunninguptothecrashof1929andthecollapseofthegoldstandardshortlyafterwards.ThefourprincipalswereMontaguNormanoftheBankofEngland,ÉmileMoreauoftheBanquedeFrance,HjalmarSchachtoftheReichsbankinGermanyandBenjaminStrongoftheFederalReserveBankofNewYork,whosoughttoreconstructinternationalfinanceafterWorldWarIandareturntothegoldstandard,whichhadbeenleftinlimbobythewar.WatchingthisdramafromthewingswastheperkyfigureofJohnMaynardKeynes,alwaysadissenteronthegoldstandard.MontaguNormanwasleader.“Monarchofaninvisibleempire,”saidtheNewYorkTimes,withtheBankofEngland“thecitadelofcitadels”.Itendedintragedy,notonlyinfinancialcollapseofbanksandthepropped-upgoldstandard,butinanervousbreakdownforMontaguNorman.AhamedLiaquathaswrittenachallengingaccountoftheinterplaybetweenthefivemenastheworldofthegoldstandardslippedthroughtheirhands–anditwonhimaPulitzerPrize.(NC)

TheBankofEnglandwasatthecentreofthegoldstandardsystem–Keynescalledit“theconductoroftheinternationalorchestra”.UnderstandinghowthegoldstandardworkedthereforerequiresunderstandinghowthesystemwasperceivedwithintheBank.Sayers’closescrutinysuggeststhatthegoldstandardwasamorefragileconstructthanportrayedinbroad-brushaccounts.TheBankofEnglandinfactstruggledtoinfluencethedirectionofgoldandcapitalflows.Itsinfluenceovertheoperationofthesystemwaslessinpracticethansometimessuggestedbymanyearlierobservers,includingKeynes.(BE)

TheBankforInternationalSettlementsinBasle,Switzerland,foundedin1930,istheoldestexistinginternationalfinancialinstitution.Itisareclusiveorganisation,buttheheartofregularmeetingsbymajorcentralbankgovernors.Fromthestart,ithandledgoldtransactionsforcentralbanks,managingtheirpurchases,sales,exchangesandtransportationofgoldbetweenmarkets.Intherun-uptoWorldWarII,itshippedmuchgoldfromEuropeancentralbankstotheUnitedStates.Theseoperationscontinuedduringthewar,especiallyfortheReichsbankinGermany,which,uniquely,avoidedGermanydefaultingonitsloans,makingittheonlyfinallystableEuropeannationduringthewar.Theseactivities,revealedyearslaterastheNaziGoldScandal,aredetailedinamajorsectionofthisbook,completewithstatisticsonallsecrettransactions.(TG)


Book specially recommended by Professor Barry Eichengreen, University of California:


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Forrest Capie,The Bank of England, 1950-1979,CambridgeUniversityPress,2010.ISBN978-0-521-19282-8

Sir John Clapham,The Bank of England: A History.VolumeOne1694-1797.VolumeTwo1797-1914,CambridgeUniversityPress,1970.ISBN0-521-04662-9.

Marjorie Deane&RobertPringle,The Central Banks(ForewordbyPaulVolcker),HamishHamilton,London,1994.ISBN2-241-13326-2.

Timothy Green,Central Bank Reserves: An historical perspective since 1845,ResearchStudyNo.23,WorldGoldCouncil,London,1999.

ThislatestvolumeoftheBank’shistorybyForrestCapie,ProfessorofEconomicHistoryattheCassBusinessSchool,givesfreshinsightsintoitsmarketingofSouthAfricangold,itsdeterminationtoencouragethedevelopmentoftheLondonGoldMarket,andthesetting-up,dealingsofandeventualcollapseoftheGoldPoolfrom1961.

OntheSouthAfricanfront,internalmemosrevealhowtheBankfoughttopreventtheBankforInternationalSettlementsgettingsomeSouthAfricanproductionforitsownvaults.Anditwasattheheartofthestruggletomaintainthegoldexchangestandard,inauguratedbytheBrettonWoodsAgreementof1944,whichdependedontheUSTreasurystandingreadytobuyandsellgoldat$35forothercentralbankswhich,inEurope,wereincreasinglybuildingtheirgoldreserves,anddepletingthoseoftheUS,whilethegoldpriceitselfcreptupwards.CapiecitesdistinguishedeconomistsdiscreetlytellingtheBankthatthedollarpricewouldeventuallyincrease.

Attemptingtodefend$35gold,theBankinauguratedtheGoldPoolin1961:essentially,asecretsellingconsortiumofcentralbanksmatchedbyabuyingsyndicateofcentralbanks.Itworkedbehindthescenesforafewyearsbut,withincreaseddemandbytheFrenchunderPresidentCharlesDeGaulleandgrowingprivateofftakeforjewelleryandinvestment,thePoolbecameanetsellerofgiganticproportions,drainingtheUSgoldreserves,andthePoolcollapsedinMarch1968.Thefighttoholdgoldat$35wasover,andthepricewashenceforwardfloatedontheinternationalmarket.Allafascinatinginsightintoperhapsthemostcrucialdecadeingold’shistoryandthatoftheLondonGoldMarket.(TG)

ThedefinitivehistoryoftheBank,writtenatitsinvitationbythegreateconomichistorian,setsincontexttheevolutionofthegoldstandard,withitsfixedpriceforover200years.TheBank’screationcamejustasmajorgolddiscoveriesweremadeinBrazil.MuchofthatgoldcametoBritaintopayforexportsofwool,andendedupintheyoungbank’svaults,essentiallycreatingthefirstcentralbankreservesandenablingtheBanktoissuebanknotesfullybackedbygold.MostimportanttotheLondonGoldMarketwasthecreationofanalliancewiththeBank,throughwhoseBullionOfficegoldflowedforgenerations,givingitauniqueunderstandingofthegoldtradenevermatchedbyanyothercentralbank.(TG)

Goodintroductiontotheworldofcentralbanking,whichevolvedsorapidlyinthe20thcentury,thatalsoshowshowgoldmaintaineditsnicheincentralbanks’reserves.(TG)

Thispaperexaminestheevolutionofcentralbankgoldreservesinthewakeofthegoldrushesinthemid-19thcenturywhen,forthefirsttime,goldreallybecameawidelycirculatingmonetarymetalinthepocketsofmillionsofpeopleworldwide,whilealsobeingheldbycentralbanksandtreasuries.Tableslistthestocksofcentralbanks/treasuries1845-1998.(TG)


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R. C. Hawtrey,The Art of Central Banking,Longman’sGreen,London,1932.

R. S. Sayers,The Bank of England, 1891-1944,3Vols.,CambridgeUniversityPress,1976.ISBNVol.1:0-521-21067-4;Vol.2:0-521-21068-2;Vol.3:(Appendices)0-521-21066-6.

The Swiss National Bank, 1907-2007,11contributorsinc.WernerAbeg,ErnstBaltensperger,MichaelBordo,HaroldJames,FrederickMishkin,UmbertoSchwarzandWilliamWhite.PublishedSwissNationalBank,Zurich,2007.ISBN978-3-03823-282-7

RalphHawtreywasan‘in-house’economistatTheBritishTreasuryfrom1905-1945,thusassuredaring-sideseatattheimpactofworldWarI,theinitialcollapseofthegoldstandarditbroughtabout,andtheattemptstoreviveitinthe1920sanditsfinalfallinBritainin1931.Hewasanardentsupporterofthegoldstandard,upagainstascepticalJohnMaynardKeynes.ThisbookshouldbereadincontextwithfoureditionsofhisbookTheGoldStandardinTheoryandPractice,publishedbetween1927and1939,aseacheditionwasovertakenbyevents.TheaddedvaluehereisastudyofFrenchmonetarypolicyastheBanquedeFrancebuiltupgoldstocksinthelate1920sandearly1930s.Thisisfollowedbyamajorsection,the‘ArtofCentralBanking’,whichreviewstheBankofEngland’sroleasamajorcentralbankinthe19thandearly20thcenturies.FromhisdeskattheTreasury,hehadauniqueviewofthespecialresponsibilitiestheBankhad.(TG)

ProfessorSayerspicksuptheBank’shistoryinthe20thcentury.Onthegoldfront,themostusefulmaterialisintheAppendicesofVolume3,whichprintsBankandTreasurymemorandaonthechangingenvironmentforgoldfromtheoutbreakofWorldWarIin1914throughthetemporarysuspensionofthegoldstandard,itsrestorationbyWinstonChurchillin1925,anditscollapsein1931.Thedocumentsprovideaninsideperspectiveonthefinalyearsofthestandard’suniquehistory.(TG)

Tocelebrateitscentenary,theSwissNationalBankroundedupateamofinternationalbankersandeconomiststotellitsstory,notleastongold.ApartfromtheBankofEnglandand,perhaps,BanquedeFrance,noothercentralbankhassomuchexperienceinthemetal–fromthefirstday,theBankwasobligedtoexchangeSwissbanknotesforeithergoldorsilverandheldmostofitsreservesingold.Withthegoldstandardcollapsingin1931,theBankmaintaineditsfaithingold,sellingitssterlingandFrenchfrancbalancesforgold,whichthenaccountedforover95%ofitsreserves.WorldWarIIbroughtSwitzerland,aneutralcountry,intothecontroversialhandlingofGermangoldand,post-war,itkeptitsdistancefromtheBrettonWoodsAgreementandfixedexchangerates.ButitdidjoinothercentralbanksintheLondonGoldPoolin1961,setuptomaintainthepriceat$35.Meanwhile,itsgoldstockremainedhighcomparedtoothercentralbanks–thefeelingbeingthattheSwissfrancshouldbetrulygold-backed.Notuntilthe1990sdidtheSwissNationalBankgingerlyjointhevogueformakinggoldloansintothemarketand,ultimately,pluckingupcouragetosellhalfitsreserves,between2000and2005(atpricesthattodayquestionitswisdom).Athorough,usefulbookthatliftstheveilonafamouscentralbankanditsgoldoperations.(TG)


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Books specially recommended by Dr Kevin Clancy, Director, Royal Mint Museum, Llantrisant:

Coins/Mints


Davies, G.,A History of Money from Ancient Times to the Present Day,Cardiff,1994.UniversityofWalesPress.ISBN0708312462

Dyer, G. P. (ed.),The Royal Sovereign,RoyalMint,Cardiff,1989.ISBN1869917030/1-869917-03-0

Fearon, D. (ed.),The Sovereign: The World’s Most Famous Coin,Hilldens,Hertfordshire,2001ISBN1-874371-14-8

Aneconomichistorianofsomedistinction,GlynDaviestowardstheendofhiscareerdrewonhisimmenseknowledgeofcurrencymattersandeconomicstoproduceacommandingworkofbreadthandambition.Foronemantotackleasubjectareaasvastasacompletehistoryofmoneyhasthedistinctadvantageofallowingperspectivestobeformedcoveringmanyhundredsofyears.Patternscanbediscoveredandexplainedthatmightnototherwisebediscernablethroughacollectionofcontributionsfromdifferentauthors.Whatisrequiredtosucceed,though,isanacademicwiththeconfidence,breadthofknowledgeandenergynottobedauntedbythechallengeandwithalifetimeofresearch,writingandteachingbehindhim,Davieswasideallyplaced.Fromtheinventionofcoinagetothemodernworld,hishandlingofthematerialissure-footedthroughoutandheisparticularlystrongintakingonbigandoftencontroversialissues,suchasmonetaryunions.Tohaveanimpressivebodyoflearningonthehistoryofmoneyinoneplacemakesforanextremelyusefulsourceofreference.(KC)

Publishedontheoccasionofthe500thanniversaryofthefirstissueofthegoldsovereign,thebookisanadmirabletributetoacointhathasplayedamajorroleinBritishcurrencyhistory.Madeupofanumberofspeciallycommissionedessaysbyrespectedauthorsondistinctaspectsofthesovereign,thebookpiecebypieceunlocksthehistoryofthecoin.Thetimingandsymbolismofitsappearance,theresonanceofitsdesigns,thescaleandqualityofitsproduction,theremarkablyinternationalcharacterofitsusage,aswellasthepersonalitiesinfluencingitsmanydifferentguises,areexplainedwithauthorityandpresentedinaveryattractiveformat.Thedramaticuseofimagesisindeednosmallpartoftheappeal,makingitabooktobeenjoyedasarespectableacademiccontributiontotheliteraturebutalsoathingofbeautyinitsownright.(KC)

ThegoldsovereignwasfamouslydescribedbyClaphamas“thechiefcoinoftheworld”andyetthereareveryfewwell-writtenorwell-researchedbooksonthecoin.IthaditsoriginsunderHenryVIIandaftera200-yearabsence,theBritishcoinagewasrevivedtowardstheendofGeorgeIII’sreign,thereaftercementingitspre-eminentpositioninBritishcurrencyhistory.Drawingonanumberofpreviouslypublishedsourcesandhandsomelyillustratedthroughout,thebooksucceedsinmakingaccessibleinoneplaceanextremelyusefulcollectionofmaterial.Inparticular,itincludesasectionadvisingcollectors,whichcoversthecoin-gradingterminologyinuseinthetrade,informationonrarityandacomprehensivepriceguide.DanielFearonhasbeenacoinandmedaldealerformanyyearsandwasthereforewellplacedtoseetheneedforsuchabook,servingasitdoesasareliablerepositoryofstories,factsandfiguresaboutthismostimportantofgoldcoins.(KC)

Coins/Mints

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Sutherland, C. H. V.,Art in Coinage: The Aesthetics of Money from Greece to the Present Day,Batsford,London,1955.

Clancy, K.,The Recoinage and Exchange of 1816-17,Leeds,2000.(UnpublishedPhDthesis,accessiblethroughtheBritishLibrary).

Alison Frankel,Double Eagle: The Epic Story of the World’s Most Valuable Coin,Norton,NewYork,2006.ISBN-109780393330007ISBN-13978-0393330007

C. E. Challis (ed.),A New History of the Royal Mint,CambridgeUniversityPress,1992.ISBN0521240263

TherearequitesimplynootherbooksthattreatcoinsasworksofartquitelikeSutherland’sArt in Coinage.Itwasatthetimeofitspublicationsingularlythemostimportantcontributiontotheliteratureontheaestheticsofmoneyandremainsaworktobeadmired.ThecoverageisfromancientGreecetothemid-20thcenturyand,fromhispositionintheHeberdenCoinRoomatAshmoleanMuseum,hewaswellplacedtoexercisesuchabroadperspective.Whatismostarrestingaboutthestudiedtreatmentofthematerial,evidentonalmosteverypage,isthewayheengageswiththecoinsthemselvesasanarthistorianwouldapaintingorsculpture.Asaresult,whatmightseemstaticfeaturesorfamiliarcompositions,takeonalifeandpersonality,andareplacedproperlyintheartisticcurrencyoftheirtime.Themostpowerfulexpressionsofnumismaticartaremoreoftenthannottobefoundongoldandsilvercoins,thequalitiesofthemetalonoccasionaddingtotheaestheticappeal.ArtinCoinagestandsasachallengetousalltolookattheworksofartwecarryaroundinourpocketsandpurseseveryday,andtotakethetimetoappreciatethemassuch.(KC)

TheworkexaminesthereformoftheBritishgoldandsilvercoinagein1816-17,lookingindetailathowthereformswereimplemented.Earlychapterslookbacktolate17thand18thcenturycurrencyhistorytoprovideacontextforunderstandingtheeconomicandsocialforcesinfluencingthesupplyofanddemandforcoinage.Theimpactofthereformsinthe20orsoyearsaftertheywereimplementedissurveyedtoassessthesuccessoftheundertaking.Keyquestionsconcerningwhyittooksolongforthegovernmenttoreformasilvercoinagethatformanyyearswasinawretchedconditionandinshortsupply,andalsowhytheformaladoptionofthegoldstandardwasdelayeduntil1816areaddressed.Itisthereforeaneconomichistory,andinpartapoliticalhistory,thatseekstoexplainthecurrencysettlementof1816-17,amomentofchangeonwhichthecurrencystabilityofthenext100yearswasfounded.(KC)

InDouble Eagle,Frankeltellsthestoryofwhathappenedtothelastgoldcoinsmintedin1933bytheUSMintafterprivategoldownershipwasmadeillegal.Theauthorwalksthroughthemonetaryeventsofthe1930s,discussingthethinkinginWashingtonthatdistinguishedbulliongoldfromcollectablegold.(SM)

ThisisthedefinitivebookoncoinageandmintsinBritainstretchingfromAD600to1985,fromateamofdistinguishedhistoriansledbyChristopherChallisoftheUniversityofLeedsandG.P.Dyer,aformerlibrarianandcuratorattheRoyalMint.Intheearlyyearsbetween600and1158,aquiltworkoflocalmints(114havebeentraced)spreadacrosstheland,makingerraticcoinagesinsilver,copperandtin,butrarelygold.Then,between1158and1464,assilverandgoldminingincreased,mintingbecamemorecentralisedinmajorcities.Themostfamousmint,withintheTowerofLondon,wasinplaceby1279,andremainedcentraltothecoinagefor700yearsuntiltheMintmovedto

Book specially recommended by Shayne McGuire, Head of Global Research, GBI Gold Fund, Texas:


Coins/Mints

1�



Nigel Desebrock,The Industry Catalogue of Gold Bullion Coins,GrendonInternationalResearch,EastFremantle,WesternAustralia,1999.ISBN0-9577495-0-3

Standard Catalog of World Gold Coins,1601-2009,KrausePublications,Iola,Wisconsin,2010.GeorgeS.Cuhai,Editor,ThomasMichael,MarketAnalyst.ISBN13:978-1-4402-0424.LibraryofCongress2009923236

Eduard Kann,The Currencies of China: An Investigation of Gold & Silver Transactions Affecting China,withasectiononcopper.Kelly&WalshLimited,1926.

LlantrisantinWalesin1985.AmintwasalsoestablishedinCalaisfrom1363-1439andservedcross-ChanneltravellersswitchingfromEuropeantoEnglishcoins(weseeitsoutputingoldandsilvercoin).Andthatistheessenceofthis800-pagebook;tablesofmintoutputs,charges,profits,prices,thefineness,weightandvalueofgoldandsilvercoinscoveringcenturyaftercentury,alongwithnewtechnologiestopreventclippinganddebasementinpursuitoftrustycoins.Itlooks,too,atgreatrecoinagesastatteredcoinswerecalledinandreplacedbynew,notleasttherecoinageof1696-9,whichpavedthewaytothegoldstandardasthegoldguineabecamethecoinineveryone’spocketratherthansilver.Anappendix,moreover,setsoutgoldandsilvercoinoutputfrom1220-1982,agifttoanyresearcheronthelonghistoryofthemetals.(TG)

NigelDesebrockhasbeeninvolvedinbullioncoinmarketingsincethe1980s,particularlySouthAfrica’sKrugerrand.Inthisdetailedvolume,sponsoredbyTheWorldGoldCouncilandvariousinternationalbullionbanks,hesetsoutfulldetailsofgold,andsilver,bullioncoinsfrom10nations.Thecoinsaredesignedfortheinvestorandaremassproducedtomeetdemand,atpricesmarginallyoverthegoldpriceoftheday.Somecountriesissuethegoldcoinsat99.99fine,othersat91.67fine.Theannualcoinsalesofeachcountryarelistedfortwodecades,withthe‘bestsellers’eachyearindicated.SouthAfrica’sKrugerrandledthefieldfrom1970-1984,andsincethentheCanadianMapleLeaf,GoldAmericanEagle,ViennaPhilharmonikerandKangarooNuggethavewrestledforfirstplace.Thebest-sellingsilverbullioncoinwasusuallyfromMexico,followedbytheUSMintandtheRoyalCanadianMint.Allround,aguidetothebullioncoinphenomenon.(TG)

Latesteditionofthislong-runningcatalogof1,440pageshasmorethan35,000photographs(inblackandwhite)ofgoldcoinsintheiractualsize,withdetailedweightanddimensionsdata,listingsorganisedalphabeticallybycountry,accompaniedbylistingsofmintsproducinggoldcoins.Platinumandpalladiumissuesarealsolisted.(TG)

ThisbookcouldonlyhavebeenwrittenbysomeonesuchasEduardKann,whospenthisworkinglifeasamemberoftheShanghaiExchangeBrokersAssociationinthelate19thandearly20thcenturies.Its500pagesarepackedwitheverydetailonthegoldandsilverbusinessinChinaatradercouldneed.Thisisthebooktoreadifyouwanttoknowtheearlyhistoryofgoldcoins,theweightofYunnanGoldDollars,themovementsofgoldtoandfromChinafor30years,theshapesofgoldbars,productionprovincebyprovince(notforgettingChineseTurkistan),alongwithtelegraphictransferratestoLondonandNewYorkandeveryaspectofthetael.Repeatthatforsilver,whichKahnpointsout,“isofparamountimportancetothecountry’sforeigntrade”.TheChineselovedsilverandChinawasthesinglegreatnationnottogoonthegoldstandard,alwaysstayingwithsilver.Kannreports,too,ontheLondon,NewYork,IndianandHamburgsilvermarketsandtheirrelationshiptoChina,notforgettingworldsilverproductionandconsumption,andthepricebacktotheMiddleAges.YoualsogettheregulationsoftheShanghaiGoldStockExchangeandaglossaryofbankingterms.Currencies of ChinachallengesErnestSeyd’sBullion & Foreign Exchanges(qv)asoneoftheessentialbooksonpreciousmetalsmarketsinthe19thandearly20thcentury.(TG)

Coins/Mints

1�



E. M. Kelly,Spanish Dollars and Silver Tokens: An Account of the Issues of the Bank of England, 1797-1816,Spink&SonLtd,London,1976.

Frederic C. LaneandReinhold C. Mueller,Money and Banking in Medieval and Renaissance Venice.Volume1,CoinsandMoneysofAccount,TheJohnsHopkinsUniversityPress,BaltimoreandLondon,1985.ISBN0-8018-3157-1

Ming-Hsun Li,The Great Recoinage of 1696-9,Weidenfeld&Nicolson,London,1963.

EricKelly,archivistattheBankofEnglandformanyyears,ostensiblycoverslessthantwodecadesduringtheNapoleonicWarswhentheBankofEnglandsuspendedpaymentingoldcoinagainstitsbanknotes,butsupplementeddomesticcoincirculationwithSpanishsilverdollars,whichitovercounteredwithitsownmarkandbyissuingitsownsilver‘collars’astokens.Actually,itisaneducationinthehistoryofsilvercoinageashecoversabroadercanvas.HeremindsusofthedebasementofthecoinagebyHenryVIIIinthe16thcentury,andleapsforwardtothelastgreatdebasementin1946when,forBritain,theonlymeansofrepayingtheUnitedStates’88millionouncesofsilveradvancedduringWorldWarIIundertheLend-LeaseAgreementwastoremoveitfromthecoins.Henceforward,Britainhadnosilvercoinage.Kellyalsogivesustheprogenyofthesilverdollar.Itowesitsnametothefamouscoins,thejoachimsthaler,madeofsilverfromtheSaxonymineofJoachimsthal,themostproductiveinEuropefrom1516.Thecoinwascopiedasthe thalerbyGermanmints,whichbecamethedaalderintheNetherlands,dollaroinSpainanddollarinEngland.Essentially,thesilverdollarwastheeuroofitsday,acceptedinternationally.Theeducationinsilvercontinueswithtablesofsilverproductionandpricesthroughthecenturies,notablythat60%ofworldoutputcamefromtheValenciamineinMexicointhe18thcenturyasthecrisisattheBankofEnglandbrokein1797.Abookthattellsusmuchmorethanthetitlesuggests.(TB)

VeniceemergedasthecentreofthebulliontradeinmedievalandRenaissanceEurope,shapingthedevelopmentofmoney,bankingandtradethroughoutEuropeandtheMediterranean.ProfessorsLaneandMuellerspentalifetimeinvestigatinghowthefamousgoldenducatandsilvergroatwerevalued,privatecontracts,book-keepingandpublicdecrees–amonumentalcontributiontoeconomichistory.Theypiecetogetherthedevelopmentofbanking,foreignexchangeandthebulliontradebetween1250and1500.TheysetoutthedetailedworkingsoftheAssayOffice,whichcheckedallincominggoldandsilver,thedailygoldandsilverpricefixingsontheRialto,andtheexactingrequirementsoftheMint,whosegoldducat,launchedin1285,remainedweightandfinenessunchangedfor500years.TheMint’soutputandchargesarerecorded,andtheshiftingrelationshipbetweenitsgoldandsilvercoins(especiallyinthesilver‘famine’ofthe14thcentury).Thisbookstandsoutasoneofthemostimportantinthehistoryofbothmetals.(SeealsoEliyahuAshtor,Venetian Supremacy in the Levantine Trade.)(TG)

DrMing-HsunLiwasborninChina,studiedattheLondonSchoolofEconomics,thenworkedfortheBankofChinaformanyyearsandwasmanagingeditorofEconomic Review.HealsoresearchedthisdetailedstudyoftherecoinageofEnglishcurrencybetween1696-9,whenSirIsaacNewtonwasMasteroftheMint.“Itwas,”heargues,“aneventoflong-lastingimportanceinBritisheconomichistory.”Inshort,almostbyaccident,itchangedEnglandfromalargelysilver-basedcoinagetogold.Thegoldstandard,whichwouldendurefor200years,wasbornoutofaslightrebalancingattheMintofthepricesofferedforgoldandsilverintherecoinageprocess.Thismadegoldmorevalued(andthusbroughtinforrecoinage),whilecheapersilverwentabroad,mainlytoIndia,whereitwasmorehighlypriced.AsDrLisays:“Byundervaluingsilver,Englandbecamethefirstcountryintheworldtoadoptagoldstandard,”Hisowncommentaryisbackedupbycontemporaryessays

Coins/Mints

14



Clara Semple,The Story of the Maria Theresa Thaler,BarzanPublishing,Manchester,andStacyInternational,London,2005.ISBN0-9549701-0-1

Peter Spufford,Money and Its Use in Medieval Europe,CambridgeUniversityPress,1988.ISBN0521303842

Don Taxay,The US Mint and Coinage: An Illustrated History from 1776 to the Present.ArcoPublishingCompanyInc.,NewYork,1966.LibraryofCongressCatalog66-18413Reprintedin1983byArcoPublishing.ISBN0915262681

onthedilemmabySirIsaacNewtonhimself,SirChristopherWren(architectratherthaneconomist),philosopherJohnLockeandCharlesDavenant,theInspectorGeneralofExportsandImports,whohadaprofessionaleyeonthenation’strade,especiallythesilverflowstoIndia.Allthisisbackedbycontemporarystatisticsongoldandsilverproduction,prices,gold/silverratiosandcoinagecosts.(TG)

Thesilver‘Empress’MariaTheresaThalerwasfirstcoinedinViennain1780.Itweighed28.0668grams,at883.3fine.AlthoughithaslongsinceceasedtobeanofficialcoininAustria,itremainswidelyknownthroughoutNorthAfricaand,inthebroadestsense,Arabia.Indeed,thehighsilverpricein2011hasbroughtthousandsbackintocirculation.ThefactisthattheMariaTheresaestablisheditselfbytheearly19thcenturyasthecurrencyofbusinessandtradeintheMiddleEast.In1837,theBritishtriedtobuytheportofAdenfor“eightthousandthalers”,butwererebuffed.TheThalerbecamethe“SilverPassport”ofallgreattravellersinArabiaandAfrica.SirSamuelBakerfoundthemwelcomeinexploringtheupperreachesoftheNileinwhatisnowSudan;BernardThomasfoundthemindispensibleasheledhiscamelintothe“EmptyQuarter”ofArabia.And,asClaraSemplereports,“thethalerboughtmanytravellersoutoftrickysituations”.AnAfricanexplorernotedin1883:“AlongtheBlueNilethereisbutonecoincurrent–theMariaTheresaThaler.”ThischarmingbookisillustratedwithcontemporarywatercoloursofArabianmarketswiththethalerswornasornaments,andtheendpapersbearancientmapsoftheregionsinwhichtheycirculated.TheMariaTheresa,itseems,isthesilvercoinforallseasons,eventoday.(TG)

Thisistheworkofagreatacademicdetective,ProfessorPeterSpuffordofQueen’sCollege,Cambridge,ontheevolutionofgoldandsilvermines,mints,coins,markets(andtradefairs),bullionflowsandbullionfamines,acrossEuropethroughouttheMiddleAges.Indeed,itstandsasthepilotforanygoldorsilversurveytoday.HetracksthearrivalsofAfricangoldacrosstheSahara,theoutputofnewgoldminesinHungaryinthe1320sthatledtoagoldcoinboomandnewsilverminesthroughoutcentralEurope.Heinvestigatesthefinenessofcoinageatnewmints(listingmorethan200differentcoins)andtheweightofsilverbarstheyreceived.Hechartsgold-silverratiosfromVenicetoEgyptandlamentsthescourgeofdebasement.Thirty-fivemapssteerusalongVikingsilvertradingroutes,pinpointthelocationofsilverminesandmintsstrikingcoinsacrosstheMiddleEastfromConstantinopletoAleppo,Basra,Baghdad,SamarkandandTashkent.HeroundsoffwiththeflowsofgoldandsilveraroundtheMediterraneanfrom1465-1500.ProfessorSpufford’sbookisacompletepictureoftheworldsofsilverandgoldintheMiddleAges.(TG)

DonTaxay’sthoroughhistoryoftheUSMintinPhiladelphiabeginswiththefirststepsofthe‘continental’papercurrencyaftertheDeclarationofIndependence.Then,in1777,Congressdeclaredthat:“AnypersonwhowillbringgoldandsilvertotheMintmayhaveitcoinedontheirownaccount.”Thetruebirthofanationalpreciousmetalcurrencycamein1792,whenthePhiladelphiaMintwasauthorisedtoissuetheGoldEagleof$10,HalfEagleof$5andQuarterEagleat$2.5,togetherwiththeSilverDollarat$1,HalfDollarat50¢,QuarterDollarat25¢andHalfDismiat5¢.Thereafter,

Coins/Mints

15



thenewUnitedStateswasfirmlybimetallic,withamainlysilvercurrencyuntiltheCaliforniaGoldRushof1848.AsTaxaytitledhischapter,‘TheGoldInterestTakesCharge’.TheDoubleEagleat$20wasintroducedin1849.Goldwasnowintheascendant,until‘TheSilverCrusade’tomaintainbimetallisminthe1870s.Thatbattle,theheartofthebook,lasteduntilthePresidentialElectionof1896,withtheUSfinallyadoptingthesinglegoldstandardin1900.Itwasashortepisode,WorldWarIandtheDepressionunderminedit,andtheUSMintminteditslastgoldlegaltendercoinsin1933,consignedtolessglamorouscoinsthereafter.(TG)

Coins/Mints

16


Book specially recommended by Frederic Panizzutti, Senior Vice President, Global Head of Sales

& Marketing, MKS Finance SA, Geneva:

Gold General


Timothy Green,The Gold Companion,TheA-ZofMining,Marketing,TradingandTechnology,RosendalePress,London,1997.ISBN10872803-377

Susan La Niece,Gold,TheBritishMuseumPress,2009.ISBN978-0-7141-5076-5

Timothy Green,The World of Gold,MichaelJoseph,London/Walker&Co.,NewYork,1968

Timothy Green,The New World of Gold: The Inside Story of the Mines, the Markets, the Politics and the Investors,Weidenfeld&Nicolson,London1982ISBN0-297-78-037-9andWalker&Co.,NewYorkISBN0-8027-0692-4

TimothyGreen,TheNewWorldofGold,Weidenfeld&Nicolson,London,1985.ISBN0-297-87575-3(hardback)ISBN0-2977-85761(paperback)

TimothyGreenisawell-respectedandwell-knownauthorinthegoldmarket,havingwrittenseveralbooksonthesubject.The Gold CompanionistheA-Zofmining,marketingandtechnology.Thisgolddictionaryismeanttoprovidetheanswertoanyquestionrelatedtothegoldmarket.Ifyoudon’tknowwhataGoldbeateris,opentheGold Companionatpage67.Amust-haveonanygoldtrader’s,investor’soranalyst’sdesk.(FP)

ExcellentintroductiontogoldwrittenbySusanLaNiece,aseniormetallurgistintheBritishMuseum’sDepartmentofConservationandScientificResearch.Sheexplainsitsbrilliance,colouranduniquepropertiesofresistingcorrosionandreflectinglightthathavemadeitasymbolofstatusandpowerthroughtheages.Dedicatedchaptersonitsroleasmoney,theartofthegoldsmith(ancientandmodern),jewelleryandadornment,broughtvividlytolifeby120colourillustrationsfromtheBritishMuseum’sowncollections,themselvesashortwalkthroughthehistoryofgold.Apracticalguidetogold,supportedbyanexcellentbibliographyrecommendingmoredetailedappraisalsofgold’smetallurgy,goldsmiths’techniquesanditsroleasadornment.(TG)

Theinsidestoryofwhomines,whomarkets,whobuysgold,basedonextensiveresearch,notjustintheLondonmarket,buttravelstoZurich,Paris,NewYork,Tokyo,HongKong/Macao,Bombay,Dubai,BeirutandSouthAfrica.ThefirstofTimothyGreen’sreportsonthegoldbusiness,tobeupdatedoverthenext40yearsinsuccessiveeditions.TranslatedintoFrench,German,Italian,SpanishandJapanese.(LBMA)

Thisisacompletelyrevisededitionoftheoriginal1968bookfocusingonthegoldeventsofthe1970sandearly1980s,asthemarketwentglobalwithround-the-clocktradingandopeningupoftheAmericanmarket,withComextradingfuturesandoptions.ThegrowthoftheHongKong,SingaporeandTokyomarketsisalsoreported,basedonannualvisitstoallmarkets.(LBMA)


Gold General

17



TimothyGreen,TheProspectforGold:TheViewtotheYear2000,RosendalePressLtd,London,1987.ISBN0-950-9182-45Alsopublished:LowryPublishers/MediaHousePublications,Johannesburg,SouthAfricaISBN0947042296

TimothyGreen,TheWorldofGold:TheInsideStoryofWhoMines,WhoMarkets,WhoBuysGold,RosendalePressLtd,London,1993.ISBN1-872803-06-7

RichardHarrington,ChrisStanleyandRobertSyman,Gold,TheNaturalHistoryMuseum,London,1999.ISBN0-565-09141-7.

BrianKettle,Gold,Graham&Trotman,London,1982.ISBN0-86010-151-7

Asthegoldminesexperiencedtheirgreatestrevolutionin100years,TimothyGreenvisitednewminesontheArcticCircleinCanada,Brazil,Nevada,WesternAustralia,ChinaandVenezuela,andmanymarketsandcentralbankstoseehowtheywerecoping.Helookedforwardtotheevolutionofthepricebytheendofthecentury.(LBMA)

TimothyGreenrevisitedthefrontiersofgoldtoreportonthenewmines,thenewmarketsandnewbuyersofthe1990s.Drawingon25years’travelasawriterandconsultantongold,heprovidedauniqueinsightintotheworldofgoldeverywherefromAustralia,ChinaandDubaitoSouthAfrica,theUnitedStatesandZurich.(LBMA)

ThisbookletbythestaffoftheMineralogyDepartmentoftheNaturalHistoryMuseuminLondonisapracticalbriefingfornewcomerstogold.Theyoutlinethemainaspectsofthemetal,fromitsphysicalproperties,mineralogy,goldinancientsediments,sedimentaryrocksandvolcanicenvironments.Theyalsointroduceexploration,exploitation,extraction,fabricationandtechnicaluses.Goodcolourillustrationsofgolddepositsandornamentation.Usefulifpreparinganessayorspeech.(TG)

Comprehensiveacademicstudyongoldasmoney,anditsroleintheinternationalmonetarysystemandasinvestment.Alsoappendicesonprices,goldbondsandlistofgoldcoinsthroughhistory.(TG)

Gold General

18



& Marketing, MKS Finance SA, Geneva

Gold Investment


Christopher Eibl,The Money Making Power of Gold – Timeless Strategies for Profits,MarketplaceBooks,Columbia,Maryland,2006.ISBN1-59280-296-6

Shayne McGuire,Hard Money: Taking Gold to a Higher Investment Level,JohnWiley,NewYork,2010.ISBN978-0-470-61253-8

Pierre Lassonde,The Gold Book: The Complete Investment Guide to Precious Metals,FinancialTimesPersonalInvestmentLibrary,PenguinBooks,1990.ISBN0-14-013397-6

Jeffery Nichols,The Complete Book of Gold Investing,DowJones-Irwin,Illinois,1987.ISBN0-87094-755-9

Paul Sarnoff,Trading in Gold: How to Buy, Sell and Profit in the Market(secondedition),Woodhead-FaulknerLimited,Cambridge,1989.ISBN0-85941-580-5

InhisbookThe Money Making Power of Gold-TimelessStrategiesforProfitsChristophEibl,CEOofTiberiusAssetManagementAGandstatedexpertincommodities,providesthereaderwithaneasyentranceintothemultifariousworldofinternationalgoldtrade.Fromthepointofviewofaprofessionalgoldtrader,Eiblgivesathoroughoverviewofthedifferentgoldproducts-fromthebulliontothegoldloantothegoldfuturesmarkets.Itmaybeusedasanexcellentreferenceforallinterestedinthegoldmarket,frombeginnerstoexpertsalike.(FP)

ShayneMcGuirecreatedthefirstgoldfundwithintheUSpensionsystem.Theglobaleconomyremainshesitantinitsrecoveryanduncertain;challengessuchasdeepunemployment,depressedgrowthandvolatilemarketsaresomeofthemanyotherargumentsenumeratedbyShayneMcGuirethatshouldpromptanyinvestorconsideringholdingpartofhiswealthoutsidethefinancialsystembyallocatingsomeofitintogold.Hard Moneyisafactualbookwithrationalexplanations;statisticaldataisamplyprovided,leavingnotheorytothehazardanditisatthesametimeapleasantreadandaninterestingsourceofinformationaboutgold’sroleinthecurrentmarketsituation(2011).(FP)

Practicalintroductionexplaininggoldandthemonetarysystem,whethergoldisaprudentinvestmenttoday,whatyoushouldbuy,goldequities,thelifecycleofaminingshare,what’shot,what’snot,thescams,andsilver:thepoorman’sgold.Thebookisdatednow,butPierreLassondetookhisownadviceandendedbyrunningtheNewmontGoldminingempireandaschairmanofTheWorldGoldCouncil.(TG)

JeffNicholsbecameoneofthebestknowngold‘gurus’ofthelast30yearsandisstillachampionofitsprospects.HelearnedhistradeatGoldmanSachsintheblossominggoldworldofthe1980s.Thishands-onguideexplainstechnicalanalysis,bullioncoins,goldbullion,gold-miningequities,futuresandoptionstothenewinvestor.Backedupbymarketstatisticsandagoodlistofotherusefulbooks.Althoughthemarkethassincebecomemoresophisticated,itremainsahandybackgroundintroduction.(TG)

VeterantraderPaulSarnoff,DirectoroftheMetalsConsultancy,offersabasicintroductiontogoldtrading(includingseveralcaveats),settingoutwheregoldcomesfrom,whereitgoesbeforeandwhattheprospectsare.Heexplainstradingphysicalversuspapergold,beforetacklingfuturesandoptions,theneedforatradingplanandpricingmodels.HealsofocusesonthewiderrangeofnewgoldminingsharesinNorthAmericaandAustraliathatbecameavailableinthe1980s.Thebookhasnowratherbeenovertakenbyevents.(TG)


Gold Investment

1�



Jonathan Spall,Investing in Gold,McGrawHill,2009.ISBN978-0-07-160346-1.

Jonathan Spall,How to Profit in Gold: Professional Tips and Strategies for Today’s Safe Haven Investment,McGrawHill,NewYork,2011.ISBN978-0-07-175195-7

Thisup-to-datebookbyJonathanSpall,whohasspentthelast25yearslivingallthechangesinthegoldmarketandisnowdirectorofcommoditiesatBarclaysCapital,offerstheidealwindowontoday’sworldofgold.Hesetsoutthebackgroundofminingandrefiningbeforehominginonthekeyelementsofgoldminesandhedging,lendersandborrowersofgold,bullionbanks,goldexchanges,exchangetradedfundsandphysicalgold.Headvisesongettingexposuretophysicalgoldandrulesfortrading.HeaddsusefulappendiceswithaGlossaryofTerms,thepropertiesofgoldandbarweights.Thisisapocketbookforeveryoneingold,traderorinvestor.(TG)

Inafast-movingmarket,JonathanSpall,ProductManagerforPreciousMetalsatBarclaysCapital,hasupdatedandexpandedhisearlierbookInvesting in Gold(seethisbibliography)toaddamajorsectionon‘ProfessionalTipsandStrategiesforToday’sUltimateSafeHavenInvestment’.Healsoadvisesonsimpleandcomplexgoldtradingprocesses,thepivotalrolecentralbanksplayinthegoldmarketandtheboomingoldexchangetradedfunds(ETFs),andexplainshowspotgoldistraded.Healsosetsoutwhygoldminingcompanieshavetraditionallyhedgedandwhytheynolongerdoso.Headdsusefulappendiceson‘Rules’forTradingGold,FrequentlyAskedQuestionsandaGlossaryofTerms.Drawingonhis25years’experienceinthepreciousmetalmarket,JonathanSpallhasprovidedapracticalhandbookfortheworldofgoldtoday.(TG)

Gold Investment

�0


Book specially recommended by Mark Grimwade, Metallurgical Consultant to Worshipful Company of

Goldsmiths and Professional Member of the Institute of Materials, Minerals and Mining, UK:

Gold Metallurgy

Author, book details Review

T. K. Rose & W. A. C. Newman,The Metallurgy of Gold. 7thEd.(1937),reprintedandpublishedbyMet-ChemResearchInc.,USA,1986.ISBN0-931913-05-5.

ThomasRosewrotethefirsteditionofthisclassicbookin1894,whichhadbeenupdatedinseveneditionsby1937,whenitwasrevisedbyW.A.C.Newman.BothmenworkedattheRoyalMint.AlthoughthebookisentitledThe Metallurgy of Goldandtherearethreeintroductorychaptersonthephysicalandchemicalpropertiesofgold,goldalloysandthechemistryofgoldcompounds,thebulkofthebookisconcernedingreatdetailwiththeoccurrenceanddistributionofgoldores,miningoperations,extractionandrefiningprocesses.Thebookiscompletedbychaptersonthetestingandassayingofgoldoresandgoldbullion.Therehavebeenmanydevelopmentsinthisfieldsince1937andsomeoftheprocessesdescribedarenowobsolete.Nevertheless,thisbookremainsavaluablesourceofinformationonmining,extractionandrefin-ingofgoldthroughoutthe19thand20thcenturies.(MG)

Gold Metallurgy

�1


Gold & Silver Jewellery/Art & Design


J. F. Hayward,Virtuoso Goldsmiths,SothebyParkeBurnet,London,1976.ISBN085667-005-7.LibraryofCongress76-14042

Graham Hughes,The Art of Jewelry,PeerageBooks,London,1972.ISBN0-907408-30-3

K. R. Maxwell-Hyslop,Western Asiatic Jewellery c.3000-612BC,Methuen,London1971.ISBN0-416-15830-7.

Clare Phillips,Jewelry, From Antiquity to the Present,Thames&Hudson,WorldofArt,1996.ISBN978-0-500-20287-6

J.F.HaywardspentmanyyearsattheDepartmentofMetalworkoftheVictoriaandAlbertMuseuminLondonbeforeundertakingthismonumentalstudyofgoldsmithsacrossEuropefrom1540-1620(forSothebyParkeBurnet).Hisbookhas748pages,with24incolourand740monochromephotographsofgoldsmiths’andsilversmiths’designsandactualworks.Heseesthe16thcenturyasaperiodofdramaticshiftsindesignandmetalworktechniques,firstinItaly,thenmovingnorthoftheAlpstoFrance,Flandersand,aboveall,toGermany.Hisgoldsmithswereinspiredbytheideasofmastersofpainting,sculptureandengravinginthefloodtideoftheRenaissance.Hegivesshortprofilesofnearly250leadingcraftsmen,discussingtheirsourcematerial,patrons(mostlyatgreatcourts),theaccumulationoftreasurebythesePrinces,Guildregulationsandthemethodsofproduction,withillustrationsoftheirworkshopsfromFlorencetoAugsburg.Theresultisauniquepanoramaofanexcitingcenturyinpreciousmetalshelped,notleast,bysignificantnewsourcesofbothmetalsinEuropeandtheAmericas.Awordofwarning:thisisaheavybook–itweighs3.5kilos–andbestreadatalectern.(TG)

GrahamHughes,ArtDirectoroftheWorshipfulCompanyofGoldsmithsinLondon,tracestheevolutionofjewellerydesigncivilisationbycivilisation.FromthebeginningsinMesopotamia(Iraq),Egypt,Troy,MinoanCrete,Mycenae,Greece,Rome,India,Africa,theAmericas(thinkIncas),toIreland,theVikings,andontomodernArtNouveau.Heisequallyathomedescribinggoldsmiths’growingtechniquesandthecontributionsofSchliemannatTroy,SirArthurEvansatKnossosinCrete,andHowardCarterinthetombofTutankhamuninEgyptunveilingthesplendoursofancientcraftsmen.Thisisacomprehensivereviewof5,000yearsingoldjewellery,broughttolifewithscoresofcolourandmonochromeillustrations.(TG)

WhenRachelMaxwell-Hyslopdiedin2011,aged97,shewasrememberedasoneoftheforemostscholarsofwesternAsiaticartandarchaeologyofhertime.WesternAsiaticJewelleryc.3000-612BCwasherbest-knownwork.InTheGuardianobituary,antiquitiesexpertRichardFalkinercalledit,“abold,eruditeattempttogettogetherinasinglevolumeeverythingimportantthatwasknownonthesubject.Stillthestandardreferencework,itestablisheswhatischaracteristicaboutthejewelleryofthenearMiddleEast…andrelatesittothejewelleryofneighbouringEgyptandGreece”.AndthisreporterfoundWestern AsiaticJewelleryinvaluableinresearchinghisbookThe Ages of Gold,especiallyontheearliestsourcesofgoldusedbygoldsmiths.(TG)

ClarePhillips,acuratorintheMetalwork,SilverandJewelleryCollectionattheVictoriaandAlbertMuseum,London,hasassembledanadmirableintroductiontotheevolutionofjewelleryfromthesimpleshellbeadsworn30,000yearsagotothemagnificentgoldornamentsofSumer,EgyptandTroyby2,500BCthroughtomodernjewellery.Sheanalysesjewellery’schangingfashions,exploresitssocialcontextandhowithasbeenwornbymenandwomenasgoldsmithsandsilversmithsimprovedtheircraft.The174illustrations(54incolour)comefrommuseums,galleriesandprivatecollectionsaroundthe


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A. Kenneth Snowman,The Art of Carl Fabergé,Faber&Faber,London1953.(ReprintedbyDebrett’sLtd,1979,ISBN9780905649139;andretitledCarl Fabergé, Goldsmith to the Imperial Court of Russia,GramercyPublishing,1979,ISBN0517405024/0-517)

Hugh Tait (ed.),Seven Thousand Years of Jewellery,BritishMuseumPublications,1986.ISBN0-7141-2034-0

Oppi Untracht,Traditional Jewelry of India,Thames&Hudson,London,1997.ISBN0-500-01780-8.Alsopublished1997,HarryAbramsInc.,NewYork,1997.

world.Anextensivebibliographypointstofurtherreadingongoldandsilvercraftsmanship,changingfashionsfromtheancientworldtotheRenaissance,theBaroqueeraandjewelleryofthe20thcentury.(TG)

“TocallFabergéthelastofthegreatgoldsmiths,”KennethSnowmanobserves,“ispossiblytostriketoopessimisticanote,but…theadventofarivaltothatproudtitle…doesnotappeartobeimminent.Hewasentirelyathomewithhismaterials–gold,silver,preciousstones.”FabergéisrememberedparticularlyforhisexoticEasterEggsforRussia’sTsars,buthisgreatworkshopsinStPetersburgturnedouteverythingfromsilvertablebells,goldandroyalblueenamelledpictureframes,roseenamelledbellpushesinengravedsilver,goldenamelledscentbottles,replicasingoldofScythianbangles,aredgoldhatpinsetwithalargeMeccastone,alongwithasilverreplicaoftheTsar’spaddlesteamerandaminiaturegrandpianoinenamelledsilver.Manyoftheseitemsareshownamongthe27colourand380blackandwhitephotographs.CarlFabergéwasbothacraftsmanandashowman.(TG)

TheaimofHughTait,aDeputyKeeperattheBritishMuseum,isto“bringtogetherjewelleryfromallthemajorphasesinman’shistory”.Thislavishvolumereproducesmorethan600jewelleryitems(allintheBritishMuseum)fromcivilisationsancientandmodern.IllustrationsfromMesopotamiaandEgypttoGreeceandtheEtruscans,Rome,ByzantiumandChinatoMayanandIncatreasuresandRenaissancecreationstrackthegrowthofthegoldsmiths’art.Themainthemeisjewelleryforpersonaladornment,describedin19essaysbyBritishMuseumCuratorsontopicsfromamuletsandbeadingtocameos,fingerringsandlockets.Ahelpfulglossaryexplainseverythingfrombezel,chasingandenamellingtofiligreeandtorcs,whiletheextensivebibliographypavesthewayforfurtherreading.(TG)

TheFinnish-AmericangoldsmithandwriterOppiUntracht(whodiedin2008)firsttravelledinIndiaonaFulbrightscholarshiptostudyIndianartsandcraftsfrom1957-59.Thereafter,hespentmuchtimeonthesubcontinentfocusingonjewelleryanditsmakersinthevillagesandtowns.Headmiredwhathecalled‘Regalandruraljewellery’,andthisbookishistributetothosecraftsmen.Henoted:“Goldandsilver–thefirstaccordingtoHindubelief,asacredmetalsymbolicofthewarmsun,theothersuggestingthecoolmoon–arethequintessentialmetalsofIndianjewellery…puregolddoesnotoxidiseorcorrodewithtime..perhapsthisiswhyHindutraditionassociatesgoldwithimmortality.”Inonesection,hegoesthroughthedistinctivegoldsmiths’techniques,inanotherheponderstheperennialproblemofmarriageandjewellery.HeevenhastimefortraditionalIndianjewellers’tools,materialsandvernacularterms.AnyonewhohastravelledinIndiawillrecognisethislovingappreciationofIndiancraftsmen.(TG)


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Books specially recommended by Mark Grimwade, Metallurgical Consultant to Worshipful Company

of Goldsmiths and Professional Member of the Institute of Materials, Minerals and Mining, UK:

Gold & Silver Jewellery/Technology


Staton Abbey,The Goldsmiths’ and Silversmiths’ Handbook,TheTechnicalPressLtd.,2ndEd.,1968.AvailableAbebooksUK.

E. Brepohl,The Theory and Practice of Goldsmithing,Fachbuchverlag,Leipzig,Germany,1994.TranslatedintoEnglishbyC.Lewton-Brain,BrynmorgenPress,USA,2001.ISBN0-9615984-9-2.

Diego Pinton,Jewellery Technology,EdizioneGoldSrl,Milan,Italy,1999.AvailableinItalianandEnglisheditions.

Ernest A. Smith,WorkinginPreciousMetals,firstpublished1933,reprintedbyN.A.G.PressLtd,1991.ISBN071998-0032-3.AvailableAbebooksUK

Oppi Untracht,Jewelry, Concepts & Technology,RobertHale,LondonandDoubleday&Co.,NewYork,1982.ISBN0-7691-9616-4

ThebookisbasedonthehandbooksofGeorgeE.Gee.Itisaguidetotraditionalcraftsmanshipandmoderndevelopments(upto1968)inal-loys,processandmaterials.(MG)

Thebook,firstpublishedin1961isintendedforjewellersandmetals-mithsinstudioworkshops.Theauthorisclearlyveryknowledgeableasdemonstratedintheearlychaptersonthephysical,chemicalandmetal-lurgicalbackground,andtheninthelaterchaptersonhandworkingskillsandsmall-scaleprocessingthataredescribedingreatdetailwithmanyillustrations.Throughoutthebookareworkedexamplesofthetypesofcalculationsthatgoldsmithsmayhavetoundertakeduringthecourseoftheirwork.ProfessorBrepohlistobecommendedonthissuccessfulbalancebetweentheoryandpractice.(MG)

Thisbook,writtenbyanItalianmetallurgicalconsultantandteacherofjewellerytechnology,isintendedforstudentsandmanufacturersandprovidesusefultheoreticalandpracticalknowledge.Itiswide-ranginginthatitconsidersallaspectsofmanufacturesuchasequipment,methodsofprocessing,themetallurgicalandchemicalbackground,effectsontheenvironment,occupationalhealthandsafety,andbusinessmanagement.Thereareanumberoftheoreticalstatementsthatareeitherwrongoratleastdebatable,butthesearerelativelyfewandsomemayhavebeenduetomistranslation.Itisclear,however,thattheauthordoeshaveawideknowledgeoftheindustryandofthemetallurgicalandchemicalbackground.(MG)

Thiswasoneofthefirstbooksaimedatrelatingbasicmetallurgicalknowledgetothepracticesemployedbyjewellersandsilversmiths.Thereisvaluableinformationonthecompositionsandphysicalandmechanicalpropertiesofcaratgoldalloys.Inaddition,thereishelpfuldetailoncasting,working,annealing,soldering,enamellingandfinishingprocesses.(MG)

TheFinnish-AmericanOppiUntracht(1922-2008)wasapolymathonjewellery.Thisishismagnumopus,weighinginatalmostthreekilos(itneedstobereadonalectern)andcontains900colourandblackandwhitephotographsandasmanydrawingsanddiagrams.“Itishardtoseehowanysinglewritercouldhavedonebetter,”wroteonereviewer.“Itwillbecomeastandardwork.”Thebookexplainsindetaileverytech-niquethatjewellerycraftsmentheworldoverusenowandhaveusedinthepast.Theirtechniquesareexploredindepth.Heopenswiththemessageofjewelleryandwhywewearornaments,thenlooksatmetalasthejeweller’srawmaterial,thebasictechniques,sheetmetal,wire,tubing,surfacetechniques,castingandmetalfinishing.Thisisatour de force,alife’seducationinthecraftofjewellery.(TG)


Gold & Silver Jewellery/Technology

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Gold Standard and Monetary Gold


Books specially recommended by Professor Barry Eichengreen of the University of California:

Ben Bernanke,Essays on the Great Depression,PrincetonUniversityPress,Princeton,NJ,2004.ISBN0-69111-8205

Arthur Bloomfield,Monetary Policy Under the International Gold Standard,AyerCompanyPublishers,Manchester,NH,1978.ISBN0-405112041

Marcello de Cecco,Money and Empire: The Classical Gold Standard 1880-1913,RowmanandLittlefieldPublishingGroup,Lanham,MA,1975.ISBN0-8747-1625-X

Trevor J. O. Dick and John E. Floyd,Canada and the Gold Standard: Balance of Payments Adjustment under Fixed Exchange Rates 1871-1913,CambridgeUniversityPress,Cambridge,2004.ISBN0-521617065

Francis Gavin,Gold, Dollars and Power: The Politics of Monetary Relations 1958-1971,UniversityofNorthCarolinaPress,2004,ChapelHill,NC.ISBN10:0807859001&ISBN13:978-0807859001

AcollectionofessaysconcernedwiththeroleofthegoldstandardintheGreatDepressionofthe1930s.Theessaysinquestioncontributedimportantlytothepost-1980literaturethatadvancedthe‘internationalinterpretation’oftheDepression,accordingtowhichthefixedexchangeratesofthegoldstandardwereatransmissionbeltforfinancialcrisisandpreventedcentralbanksandgovernmentsfromrespondinginstabilisingfashion.Alsoimportantforshininglightonwhatourmostimportantcontemporarycentralbankerseesasthelessonsofgoldstandardexperience.(BE)

Dedicatedstudentsoftheactualexistinggoldstandard,asopposedtothemythicalgoldstandardofthetextbooks,starthere.Bloomfielddetailshowthepre-1913goldstandardworked:howthegoldstandardstatutesofcentralbanksoperated;thegold‘importandexportpoints’thatconstrainedpolicy;theroleofinternationalcapitalflows;andtheinstrumentsusedtomanagegoldandcapitalflowsandtomaintaintheconvertibilityofcurrenciesintogold.Hisaccountisgroundedinthereportsandaccountsofcontemporarycentralbanks.Itwasveryinfluentialforitsdemonstrationthatcentralbanksdidnotalwaysplayaccordingtotheso-calledgoldstandard‘rulesofthegame’.(BE)

Thisbrilliantifnotalwaysaccessiblemonographmakesthreeoft-neglectedpointsabouttheoperationofthepre-1914goldstandard.First,thegoldstandardwasapoliticalaswellasaneconomicsystem;itworkedassmoothlyasitdidonlybecauseoftheexistenceofadistinctivesetofpoliticalandeconomicconditions.Second,theinternationalgoldstandardwasasetofinterlockingparts;inparticular,Britain’smaintenanceofgoldconvertibilitydependedcriticallyonthemonetarysupportitreceivedfromitsIndiancolony.Third,thesystemwasincreasinglyfragileinthefinalyearsleadinguptoWorldWarI,renderinghowmuchlongeritwouldhavelastedanopenquestion.(BE)

Aneconomist’s(asopposedtoaneconomichistorian’s)‘take’ontheoperationofthegoldstandard.Ratherthantakingaglobalview,DickandFloydprovideaclosestudyofasmallopeneconomy,Canada’s,inthegoldstandardyears.Canadianexperiencesuggestsveryfastadjustmenttobalance-of-paymentsdisturbancesunderthegoldstandardregime.Thebookmakesrigoroususeofeconomictheoryandtakesseriouslythetaskoftestingthattheoryagainstthebesthistoricalstatisticsonoffer.(BE)

Gold, Dollars and PowerprovidesawindowintothemonetaryeconomicsofthelastdecadesleadingtotheclosingofthegoldwindowattheFederalReservein1971.Concernsaboutthedollar,asGavinmakesclear,havebeenpresentformanydecadesandthesearchforastrongmonetaryfoundationfortheglobaleconomyisarecurringtheme.(SM)


Books specially recommended by Shayne McGuire, Head of Global Research, GBI Gold Fund, Texas:

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Melchior Palyi,The Twilight of Gold 1914-1936,Chicago:HenryRegnery,1972.

Tamin Bayoumi, Barry Eichengreen and Mark P. Taylor (eds),Modern Perspectives on the Gold Standard,CambridgeUniversityPress,1996.ISBN0521571693

Michael D. Bordo,The Gold Standard and Related Regimes,CollectedEssays,CambridgeUniversityPress,1999.ISBN0-521550068

Michael D. BordoandAnnaJ.Schwartz(Editors),A Retrospective of the Classical Gold Standard, 1821-1931,AConferenceReport,NationalBureauofEconomicResearch,TheUniversityofChicagoPress,Chicago&London,1984.ISBN0-226-06590-1.

W. J. Busschau,GoldandInternationalLiquidity,SouthAfricanInstituteofInternationalAffairs,Johannesburg,1961.

PalyidefendsthegoldstandardatacriticaltimeinUSandworldfinancialhistory–Nixon’sclosingofthegoldwindowattheFederalReservein1971.InThe Twilight of Gold,theauthorquestionsthekeyargumentsofthoseclaimingthatadherencetothegoldstandardcontributedtotheseverityoftheGreatDepressionanddefendsgoldasamonetaryfoundation.(SM)

Ahighlyprofessionaltechnicalstudyby21leadinginternationaleconomists,editedbyTaminBayoumi,senioreconomistattheIMF,ProfessorBarryEichengreenoftheUniversityofCalifornia,andMarkTaylor,ProfessorofEconomicsattheUniversityofLiverpool.Theunderlyingthemeisthatthepre-1914goldstandardisanobviouschallengetothenotionthatcapitalmarketsaresourcesofinstabilitybecause,between1879and1914,themajorcurrencieswerestablylinkedatfixedratesofexchange.

Fourkeysectionsdiscuss:•Theoperationofthegoldstandard•Thestabilityofthegoldstandardandtheevolutionofthe internationalmonetarysystem•MoneydemandandsupplyunderthegoldstandardintheUnited Kingdomfrom1870-1914• LessonsfromthegoldstandardforEuropeanmonetaryunification.(TG)

ThiscollectionofessaysbyProfessorMichaelD.Bordo,ProfessorofEconomicsandDirectoroftheCenterforMonetaryandFinancialHistoryatRutgersUniversity,NewJersey,andhisassociates,coversawidespectrumoftheclassicalgoldstandardandrelatedregimesbaseddirectlyorindirectlyongoldconvertibility.•Thegoldstandardtheory• EffectsoftheAustraliangolddiscoveriesfrom1851-73•Theclassicalgoldstandardasacommoditystandard•Thegoldstandardasa‘GoodHousekeepingSealofApproval’•Historicalcasestudies:BritishandFrenchfinancesduring theNapoleonicWars•TheBrettonWoodsInternationalMonetarySystem–anhistorical overview.Amajorsectionofthebookdiscusseswhetherthereisa goodcaseforanewBrettonWoodsInternationalSystem.(TG)

Papersby22internationaleconomistsreflectingawiderangeofviewsonthemeritsandweaknessesofthegoldstandardandwhetherrestoringitcouldhelpcureinflation,highinterestratesandlowproductivity.Includesareviewoftheliteraturesincethe18thcenturyonthegoldstandardandstudiesoftheexperiencewithgoldinEngland,Germany,Italy,SwedenandCanada.Anexhaustiveandhighlytechnicalprofessionalstudy.(TG)

DrWilliamBusschau,economistandchairmanofGoldFieldsofSouthAfrica,wasthechampionofgold’sroleintheinternationalmonetarysystemfromthe1930stothe1960s,whenSouthAfricaproduced70%oftheworld’sgold.“Thegoldstandardmaynotbeperfect,”heoncesaid,“butitisthebestsystemhumanityhasdevised.”ThebookisacollectionoffivelecturesinEuropein1960on‘TheFlowofCreditinRelationtoGoldintheInternationalMonetarySystem’,delivered



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Barry Eichengreen,Globalizing Capital: A History of the International Monetary System,2ndedition,PrincetonUniversityPress,2008.ISBN978-0-691-13937-1

Barry Eichengreen,Golden Fetters, The Gold Standard and the Great Depression, 1919-1939,OxfordUniversityPress,1992.ISBN0-19-506431-3

Paul Einzig,International Gold Movements,Macmillan&Co.,London,1929.Paul Einzig,The Destiny of Gold, Macmillan & Co.,London1972.ISBN33314291-8LibraryofCongress72-85830

whenthecrunchpointonholdingthegoldpriceat$35perouncewasabouttoarrive.Hisargumentsarebackedupbyappendicesonworldproduction,non-monetaryandmonetaryabsorption,centralbankstocksandprices.Avaluablerecordofthe‘pro-gold’argumentsformonetarygold,fromthestandpointofthemajorproducer.(TG)

Excellentintroductionandguidetotheinternationalmonetarysystemfrom1850tothepresentday.ProfessorEichengreenoftheUniversityofCalifornia,Berkeley,hasaimedhisbook“atstudentsineconomics,studentsinhistory,andgeneralreadersinterestedinmonetaryreform”.Helooksfirstatthegoldstandardinthemid-19thcenturyafterthegoldrushes,thedilemmasofbimetallism,howthesystemworkedanditsstability.Thenheexplainstheinstabilityofthesystemfrom1914to1931anditsultimatedisintegration,followedbytheBrettonWoodsAgreementof1944,thegoldexchangestandard,floatingexchangeratesandSpecialDrawingRights,leadingtotheEuropeanMonetarySystem.Finally,a‘BraveNewWorld’withtheadventoftheeuro.Apracticalglossaryoftermsinthemonetaryandgoldworldprovidesausefulintroductiontolayreaders.(TG)

“ThegoldstandardisthekeytounderstandingtheDepression,”arguesProfessorBarryEichengreenofBerkeleyUniversity.“Thegoldstandardofthe1920ssetthestagefortheDepressionofthe1930sbyheighteningthefragilityoftheinternationalfinancialsystem.”Hesuggeststhat,whilethestandardworkedinthelate19thcentury,WorldWarIledtothedisintegrationofthepoliticalandeconomicfoundationsofthepre-warsystem,yetkeptinplacebindingconstraintsthatpreventedpolicy-makersfromavertingthefutureofbanksandcontainingthespreadoffinancialpanic–hencehistitle,Golden Fetters.Initially,hesetsthepre-WorldWarIclassicalgoldstandardincontext,thenassessesthedestabilisingeffectsofwar,andtheaftermathofhyperinflation.Attemptstoresurrectthegoldstandardfounderedasthefaçadewasalreadydeeplycracked.Theinter-nationandinter-centralbankco-operationthatpreviouslystabilisedthegoldstandardhadgone.Itdescendedintoconfusionintheearly1930s,asnationafternationgaveitup,andAmericancitizenswereevenforbiddentoholdgold(theessenceofthestandard).Finally,EichengreenlookstotheBrettonWoodsmeetingof1944thatsoughttobringnewstructuresinaneuteredgoldexchangestandard.(TG)

ThesetwobooksbyDrPaulEinzig,economistandfinancialcommentator,werewritten43yearsapart.Theyprovideabridgebetweentheworldofgoldundertheuneasygoldstandardofthelate1920sandtheemerginground-the-world,round-the-clockmarketoftheearly1970s,nolongerstrappedintoafixedprice.Inbothbooks,Einzig’sfaithingoldisclear.Thefirstin1929isaguidetothemotivesforandpracticalitiesoflarge-scalegoldmovementsbetweennationsandcentralbanks,andthesubtletiesof‘goldpoints’basedonfreightratesthatdeterminedwhetheramovementwasprofitable.Hisappendicesgivedetailedexamplesofairversusseatransportandtheinternationalimportsandexportsofmanynations.Thusitisausefulmarketguidetothelate1920s.The Destiny of Goldlamentstheendofgold’sdomesticmonetaryrole,isscepticalofthegoldexchangestandard,theBrettonWoodsSystemandtheLondonGoldPool’seffortstoholddownanartificiallylowpriceinthe1960s.Einzigwasalwaysforasubstantialriseintheprice(whichwasbetween$60-$70whenthebookwaswritten,but$850eightyearslater).Together,thesebooksgiveonecommentator’sthoughtsoveralmosthalfacentury.(TG)


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John Kenneth Galbraith,Money, When it Came, Where it Went,AndreDeutsch,London1975.ISBN0-233-96725-7.

T. E. Gregory,The Gold Standard and its Future,3rdedition,revisedandenlarged,Methuen&Co.Ltd,London,1934.

R. G. Hawtrey,The Gold Standard in Theory and Practice,LongmansGreen&Co.,London,FirstEdition1927,FourthEdition1939.

Roy Jastram,The Golden Constant: The English and American Experience, 1560-2007.EdwardElgarPublishingInc.,Northampton,Mass.,USA,2009.ISBN978-184720-261-1.

“Thereisnothingaboutmoneythatcannotbeunderstoodbythepersonofaveragecuriosity,diligenceandintelligence,”saysProfessorGalbraithinthiseasilyreadable,accessiblebook.Hefocuses,inparticular,ontheblossomingoftheBankofEnglandinthe18thcenturyasauniqueissuerofbanknotesfullybackedbygold,andcallsthedebateprovokedbythe1810BullionCommittee’sreportontheHighPriceofGold“themostfamous…inallhistoryonmoneyanditsmanagement”.(TG)

ProfessorGregoryoftheLondonSchoolofEconomicshaddifficultykeepingupwiththerapidchangesingoldintheearly1930s.Thefirsteditionofthisbookcameoutjustafterthegoldstandardcollapsedin1931,thesecondsixmonthslater,“bringingthesubjectmatteruptodate”,whilethisthirdeditionhasafreshsecondhalfwithnewchapterson“themarchofevents”inGreatBritainandtheUSA.Thusitisdispatchedfromthemonetaryfrontline–andisvaluableforthatveryreason.Thisistheinsidethinkingofthemid-1930s.Tobegin,however,ProfessorGregorysetsouttheworkingsofthegoldstandardinitsheydaybefore1914,thedisruptiontoitbyWorldWarIandthedifficultiestryingtoresurrectitafterwards,whichledtothe1931breakdown.HethenanalysesthestateofplayinGreatBritainandtheUSAthereafterandtheprospects.Heargues:“Oneofthegreatjustificationsoftheinternationalgoldstandardwaspreciselythatitwasaninternationalstandard.”Andthatishardtoresurrect.Heconcedes,too,thatithasbecome“alessusefulinstrumentofeconomicprogress”.Inparticular,hewrites:“ThereisaverystrongcaseagainsttheindependentreturntothegoldstandardbyGreatBritainalone.”Appendicescontainusefultablesofgovernmentandcentralbankgoldstocksworldwide.(TG)

RalphHawtreywasan‘in-house’economistattheBritishTreasuryfrom1905to1945.HewasanardentsupporterofthegoldstandardthroughoutandprotagonistofJohnMaynardKeynes.Hewasattheheartofthefast-changinggoldstandardfortunesandhisbookkeptbeingovertakenbyevents.Thefoureditionswerepublishedbetween1927and1939,eachsuccessivelylonger.HedidregularbattlewithKeynes.Headmittedinhisfirstedition:“MrKeynes’argumentsconstituteaformidablefrontalattackuponthegoldstandard,andnosupporterofthegoldstandardcanaffordtoleavethemunanswered.”Hepitchedin,first,onbehalfofgoldminers.“Thelosstocommunitiesdependingongoldminingfortheirexistencewouldbeoverwhelming,”heargued(notsurprisingsinceSouthAfricawaspartoftheBritishEmpire,anditsgoldwasmarketedinLondonunderthewatchfuleyeoftheBankofEnglandandtheTreasury).Headded:“Thepreferenceofmostcountriesforgoldis…anindisputablefact,andstabilityofratesofexchangeongoldstandardcountriesnecessitatesagoldstandard.ThelogicoffactshasdisposedofMrKeynes’proposals.Goldisde factotheinternationalcurrencyandthiscountrymustdoasothersdoandadheretoit.”Thecollapseofthestandardinthe1930sdidnotchangehisviewsinhis1939edition(whichgivesathoroughaccountofevents.)“Gold,”hesaid,“hadretaineditsfunctionasthemediumofsettlementforinternationalbalances…thereisaveryrealconveniencein…metallicreserves…Goldisananonymousasset.”Hawtreywasatruegoldbug.(TG)

ThisrevisededitionoftheoriginalbookbythelateProfessorJastramoftheUniversityofCaliforniahasacommentarybyJillLeylandontheevolutionofpricesinrecentdecades.Essentially,ProfessorJastramreviewedtherelationshipofgoldtocommoditypricesover400years.HefocusedonsevenpriceinflationsinEnglandandsixinflationsand


�8



Updateofthefirsteditionof1977,withadditionalmaterialbyJillLeylandandactualgoldprices1344-2007byTimothyGreen.

John Maynard Keynes,A Tract on Monetary Reform,Macmillan,London,1923.

Money: A History,JonathanWilliams(ed.),withJoeCribbandElizabethErrington,BritishMuseumPress,1997.ISBN0-7141-0886-3(cased);0-78141-08855(paperback).

National Industrial Conference Board Convocation,Gold and World Monetary Problems,Tarrytown,NewYork,1965.TheMacmillanCompany,NewYork/CollierMacmillanCompanyLtd,London,1965.LibraryofCongressCatalogCard66-29051.

Robert Skidelsky,John Maynard Keynes, The Economist as Saviour, 1920-1937,Macmillan,London,1992.ISBN0-333-37138-0.

threedeflationsintheUnitedStates,relatingthemtocommoditypricesandindexesofgold’spurchasingpower–hencehisconclusionandtitleThe Golden Constant.However,hedidnotincludeactualmarketpricesforgolditself.Thesehavenowbeenaddedbytablesofgold’spricefrom1344-2007compiledbyTimothyGreen,whichgivethebookanewdimensionforhistorians,economistsandinvestors.(TG)

Inthethickofdebatesaboutrevivingthegoldstandardintheearly1920s,JohnMaynardKeynesclearlysetouthisstallinthisfamoustract.AreturntotheWorldWarIgoldstandardwasanon-starter.“Therestorationofthegoldstandard(whetheratthepre-warparityorsomeotherrate)certainlywillnotgiveuscompletestabilityofinternationalpricesandcanonlygiveuscompletestabilityofexternalpricesifallothercountriesrestorethegoldstandard,”hewrote.Hechidedtheadvocatesofgoldwhocontendedthatacurrencynotgroundedingoldwouldcometogrief,denyinganymagicinthemetalthatenjoyed“toomuchprestigeforitssmellandcolour”.Whileheadmitsthatitsstabilityofvalueinthe19thcenturywasremarkable,thatwasdowntoaflushofnewmines,buttheycouldnotgoonforever.Andyoucouldnothaveareliablemonetarysystembasedonthepremisethatnewgoldminesorbettertechnologywouldturnup.“Itistoomuchtoexpectthatasuccessionofaccidentswillkeepthemetalsteady,”hewarned.HechastisedAsianhoardersandcentralbankswhichwerestoringupgold,arguing:“ThecostlypolicyofburyinginthevaultsofWashingtonwhattheminersoftheRandhavelaboriouslybroughttothesurface,sogoldnowhasanartificialvalue.Theactualvalueofgoldwilldependonthepolicyofthreeorfourofthemostpowerfulcentralbanks,whethertheyactindependentlyorinunison.”Fundamentally,thewithdrawalofgoldfromactualcirculationinWorldWarIdestroyedoneoftheelementsofreality.“Intruth,”declaredKeynes,“thegoldstandardisnowabarbarousrelic.”(TG)

“Anauthoritativehistoryofmoneyoverfourmillenniaandacrossdifferentcultures…mapsandillustrationsofcoinsandnotes…bringthehistoryofmoneyalive.”(History Today review).Excellentoverviewthatsetsgold’smonetaryroleinperspective.PublishedtomarktheopeningoftheHSBCMoneyGalleryattheBritishMuseum,whichitselfdisplaysauniquecollectionofgoldbarsandcoin,ancientandmodern.(TG)

Bankers,economistsandgoldminersfromNorthAmerica,EuropeandSouthAfrica(thenbyfarthelargestproducer)debatetheestablishmentofadequateinternationalreservesandbalance-of-paymentsadjustments.Theconference,comingjustthreeyearsbeforethebreakdownofthefixed$35price,shadowedthechangestocome.Asoneparticipantputit:“ThepresentpriceofgoldiskeptarbitrarilybytheUSgovernmentat35dollarsanounce,thusmaintaininganunstableinternationalmonetarysituationindangerofcollapse.”Essentially,thelastgreatdebatebeforethegoldpricewasfreedtofloatinthemarketin1968,thoughcentralbanksswappedwitheachotherat$35until1971.(TG)

Keyneswasattheheartofthedebateontheprosandconsofreturningtothegoldstandardinthe1920s,withhiscrucialTractonMonetaryReformin1923,whichwasagainstreturn.But,ashisbiographer,Skidelsky,shows,hetriedwithoutsuccesstogetChancelloroftheExchequerWinstonChurchillnottogoback.ThebattleisexcellentlysetoutintheGold&Marriagesectionofthisimportantbook.And


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Robert Triffin,Gold and the Dollar Crisis,YaleUniversityPress,LondonandNewhaven,1961(paperback).LibraryofCongressCatalog61-11398

whenthegoldstandarddidcollapsein1931,Keynesfeltvindicated,“chucklinglikeaboywhohasjustexplodedafireworkundersomeonehedoesn’tlike”.(TG)

ProfessorRobertTriffinofYaleUniversitywasinthevanguardoftheanti-goldschoolofeconomistsinthe1960s,whoarguedfordrasticreformofwhathecalled“theworldmoneymaze”inwhichgoldwouldplayalesserrole.Indeed,hesawourcontinuingaddictiontothemetalasamajorpartoftheproblem(justasKeynescalledit“abarbarousrelic”).“Nobodycouldeverhaveconceivedamoreabsurdwasteofhumanresources,”hewrote,“thantodiggoldindistantcornersoftheearthforthesolepurposeoftransportingitandreburyingimmediatelyafterwardsinotherdeepholesespeciallyexcavatedtoreceiveitandheavilyguardedtoprotectit.”Heargued,too,thatanupwardrevaluationofthepricewouldbringhaphazardbenefits.Countrieswithhighreserveswouldbenefitmost,whilethetwomajorproducers,SouthAfricaandtheSovietUnion(apoliticalpariah)wouldbemajorbeneficiaries.Hissolutionwas“togiveallcountriesthechoiceofkeepingintheformofinternational,goldconvertible,depositsattheIMF,anyportionoftheirreserveswhichtheydonotwishtoholdintheformofgold….Thedepositswouldhaveexchangerateguarantee…andwouldearninterest.”Furthermore,thedepositswouldbeliquidasgoldandusableinallinternationalpayments.(Infact,theywereaforerunnerofSpecialDrawingRights(SDRs)firstissuedadecadelater.)(TG)


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Gold & Silver Watches


David Thompson,Watches,TheBritishMuseumPress,2008.ISBN978-0-7141-5055-0

DavidThompson,CuratorofHorologicalCollectionsattheBritishMuseum,chartstheevolutionofwatchesfromgilt-brasscasesinthe16thcenturytoradio-controlledquartzgold-casedtimekeeperstoday.The77colourillustrationsaremostlyofgoldandsilverwatches.TheearlyhomesofwatchmakerswereinGermany,FranceandEngland,whereRobertGrinkininLondonwasperfectingasimplegoldvergewatchbythe1630s.Goldanddelicateenamelledcasesweresoondeveloped.InGeneva,thevoguewassilverwatchesofexquisitedesignbythe1650s.Thetwinskillsofwatchmakerandgoldsmithadvancedthetradeinthe18thcenturywithfinelychaseddesigns,inaperiodwhenhallmarkinginLondonaccountedformoregoldusethaninjewellery.Thegoldwatchwasthestatussymboloftheera.Tastehasnotchanged;agoldOmegaorRolexisjustasinvoguetoday.Thisbookisanarticulatewalkthroughthehistoryofthewatch.(TG)

Gold & Silver Watches

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History/Bimetallism


Marc Flandreau,The Glitter of Gold: France, Bimetallism and the Emergence of the International Gold Standard,1848-1873,OxfordUniversityPress,2004.ISBN0-19-925786-8.TranslationandupdateofhisL’OrduMonde,1995,translatedbyOwenLeeming.

S. Dana Horton,The Silver Pound and England’s Monetary Policy since the Restoration, together with the History of the Guinea,Macmillan&Co.,London,1887.Paperbackreprintsondemand.CornellUniversityLibrary,2009–ISBN1112016228.KessingerPublishing,2011–ISBN9781120928023

J. Laurence Laughlin,The History of Bimetallism in the United States,D.Appleton&Co.,NewYork,3rdedition,1896.

MarcFlandreauspecialisesinthehistoryoftheinternationalmonetarysystem.HeisnowProfessorofInternationalEconomicsandInternationalHistoryattheGraduateInstituteofInternational&DevelopmentStudies,Geneva,andPresidentoftheEuropeanHistoricalEconomicsSociety.Here,heconcentratesonacrucialperiodasFrancesoughttomovefromabimetalliccurrencysystemtothenewgoldstandard.IntheimmediateaftermathoftheCaliforniaandAustraliagoldrushes,theFrenchMintcoinedmuchmoregoldthaneithertheUnitedStatesorBritain.AndtheBankofEnglandandtheBanquedeFrancefoughtasubtlearbitragewar,withParisandLondongoldtradersinthemiddle.FlandreaunoteshowarbitrageurswereabletoplayoffFrance’sbimetallicsystem,swappinggoldforsilverandviceversa.Thisisauniqueinsideviewofinternationalarbitrageasgoldreplacedsilverastheprimecoinage.BarryEichengreenlabelledit“Arevolutionarybook”.AndthelateCharlesKindleberger(longProfessorofEconomicsatMIT)noted:“France’scrucialroleintheworld’sconversionfrombimetallismtothegoldstandard…isbrilliantlysetforth.”(TG)

Therisingsilverpriceinrecentyearshaspromptedon-demandreprints(theoriginalbeingoutofcopyright)ofthisclassicdefenceofsilverinthemidstoftheUSSilverLobbycampaignsofthe1880sforthebimetallicgoldandsilversystemtoberetained.DanaHortonwasreportingfromthefrontline,havingbeenadelegateoftheUnitedStatestotheInternationalMonetaryConferencesof1878and1881,whichlookedattheplightofsilver,thenbeingbrushedasidebygoldcoinageafterthegoldrushes,andwhosepricewastumbling.Hesawthesurvivalofsilvercoinageas‘ontrial’,withitsdescentbeginningwiththeRestorationofCharlesIIinEnglandin1660andtheintroductionofthegoldguinea,whichrapidlytookoverasthemaincurrency.Helamented“theAbandonmentoftheSilverPound”atthehandsofSirIsaacNewtonandsundrypoliticians.HebackedthisupwithTreasuryPapers,lettersfromJohnLocke,MintReports,remarksbyAdamSmith,commentsfromAlexanderBaring(thebanker)andSirRobertPeel.Silverlostout,ofcourse,butthisisafinepolemictoseeitretained.(TG)

ExcellenthistoryofbimetallismintheUnitedStatesfrom1792-1895explainingtheendlessargumentsbetweenbimetallistsandmonometallistsastheCaliforniagoldrushchangedthebalanceofcoinageintheUnitedStatesfrombeinglargelyinsilvertolargelyingold.Therearguardactionbysilver-producingstatestomaintainthedualcurrencyfinallyendedin1896.ThespecialmeritofthisbookisitsworldwidesweeptakinginthedemandforsilverinIndia,Germany’sreplacementofsilverwithgoldinthe1870s,FranceandtheLatinUnionwithitsowntentativesinglecurrency,andtheultimatecollapseofthesilverpriceinthe1890s.Thespecialmeritofthebookistheappendicesgivingtheproductionofgoldandsilverfrom1493-1895,gold-silverratiosovercenturies,monetaryregulationsintheUnitedStatesandEurope,thecoinageofgoldandsilverintheUnitedStates,France,Belgium,Italy,theUnitedKingdom,GermanyandRussia,plusstatisticsonsilverflowstotheEastandtheconsumptionofgoldandsilverinthearts.(TG).

History/Bimetallism

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Angela Redish,Bimetallism, An Economic and Historical Analysis,CambridgeUniversityPress,2000.ISBN0521570913

ThishistoryofbimetallicmonetarysystemsbyAngelaRedish,ProfessorofEconomicsattheUniversityofBritishColumbia,Vancouver,trackstheevolutionofjointgoldandsilvercoinagessincethedaysofCharlemagneinthe8thcentury.ShedescribeshowthephysicaltechnologiesforproducingcoinsinteractedwiththeoperatingrulesimposedbyCharlemagneandlaterrulersontheirmintsthroughoutthelaterMiddleAges.Charlemagnesethissilverdenariusat1.9gramsofpuresilver,butachievingthatfinenessandavoidingcounterfeitingwasthechallenge.Thecommonmethodofassayingwaswithtouchneedlesandtouchstones(thebookhasfascinatingearlyillustrationsofthem).Thehurdlesbythe14thcenturywerelargercoinsinsilverandgoldfromnewminingoperations,thenthechanginggold-silverratiosbroughtonbythegoldandsilverdiscoveriesinGermanyandtheNewWorld,andnewpressesforcoinageandtheintroductionofmillingroundtherimtothwartcounterfeiters.Ultimately,thegoldrushinBrazilfrom1700andtherushesofthe19thcenturytransformedthesceneasgoldcoinagestookoverfromsilver.TheaccountsoftransitionsinFranceandtheUnitedKingdomtothegoldstandardareaccompaniedbytablesofchangingfinenessandprices.Apracticalbook.(TG)

History/Bimetallism

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History/Gold Rushes


Pierre Berton,The Golden Trail, Macmillan,Toronto,1954.

Pierre Berton,Klondike: The Last Great Gold Rush,McClellandandStewart,Toronto,1958.

Pierre Berton,Klondike: The Life and Death of the Last Great Gold Rush,Allen,London,1960.

C. R. Boxer,The Golden Age of Brazil, 1695-1750,UniversityofCaliforniaPress,Berkeley&CambridgeUniversityPress,1965.LibraryofCongressCatalogCard62-11583.

J. S. Holliday,The World Rushed In: The California Gold Rush Experience, An Eyewitness Account,VictorGollancz,London,1983.ISBN0-575-03236-7.

AlsoSimon&Schuster,NewYork,1981.ISBN9780671255381.

W. P. Morrell,The Gold Rushes,Adam&CharlesBlack,London,secondedition,1968.

PierreBerton,thegreatCanadianwriterandhistorian,wasborninWhitehouse,Yukon.HisfatherhadjoinedthegoldrushtotheKlondikein1898(andhismotherwenttoDawsonCityin1907asaschoolteacher),andnoone,therefore,wasbetterqualifiedtolookback,halfacenturylater,onthatlastgreatgoldrushofthe19thcentury.ItisarealadventurestoryofprospectorsmakingthelonghaulupfromtheportofSkagwayovertheChilkootandWhiteHorsepassesanddowntheYukonRivertoDawson.Aharshjourney,Bertonwrote.Hereckonedthat,ofthe100,000whosetoutforDawson,30,000to40,000actuallyarrived.Ofthese,perhaps5,000searchedforgold;afewhundredgotrich.HequotesaNorthWestMountedPoliceOfficersaying,“suchasceneofhavocanddestructioncanscarcelybeimagined.Thousandsofpackhorsesdeadalongtheway.UpinDawson,therewaslittlelaw.Thepolicedidnotevenarrestamanunlesshehadhisownprovisions.”Thegoldrushwasshort–threebriskyears,duringwhichperhaps2.5milliont.oz.ofgoldwasrecovered,butoneofthemostspiritedingold’shistory.(TG)

ThisclassicbookbyProfessorBoxerofKing’sCollegeLondonanalysesthegoldrushinBrazilinthefirsthalfofthe18thcentury,whichdoubledworldoutput,providingthegoldonwhichtheUKgoldstandardwasunderpinnedasBritainwentoverfromasilvertoagoldcoinageandtheyoungBankofEnglandbuiltitsreserves.HetrackstheminingboomsofMinasGeraisandMattoGrosso,whichdrewanarmyofprospectorsandthousandsofslavestotheopen-pitdiggings.Outputreachedover500,000t.oz.annuallyby1750,two-thirdsofworldoutput.Appendicesonproduction,miningofcoinandtaxrevenuesareparticularlyuseful.(TG)

AdeeplymovingaccountoftherushtoCaliforniain1849builtaroundthediaryofWilliamSwain,wholeftBuffalo,NewYorkinApriltotrekacrosstheplainsandovermountainswith30,000otherprospectorstoreachthe‘diggings’inlateNovember.ThereSwaintellsofthemonumentaleffortsofminerstoextractgoldfromtherocksandgravelsofSierrastreams.Unequalledasadailydiaryofthegreatestgoldrushinhistory.Afewgotrich,mostsuccumbedtothehardlifeandtemptationsofSanFrancisco,whichblossomedfromatinyharbourtoamajorportopeninguptheAmericanWest.(TG)

Thedefinitivebookbringingtogetherthemajorgoldrushesofthe18thand19thcenturies,whichtransformedtheworldofgoldandunderpinnedtheheydayofthegoldstandard.ProfessorMorrell’scomprehensivestudytracksallthemajordiscoveriesfromBrazilin1700toAlaskaandtheKlondikeinthe1890s,bywayofSiberia,California,Australia,NewZealandandWesternAustralia.Hediscusses,too,thesignificanceofthegoldrushesinAmericanhistoryinopeninguptheWest.Inall,auniquebriefingonamajoreraingold’shistory.(TG)

History/Gold Rushes

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John W. Leonard,The Gold Fieldsof the Klondike, A Fortune Seeker’s guide to the Yukon Region of Alaska and British America,A.N.Marquis,Chicago,paperback,1897.

H. W. Brands,The Age of Gold,WilliamHeinemann,London,2005.ArrowBooks,London,2006.ISBN0-09-9476568

Eric Rosenthal,Gold, Gold, Gold: The Johannesburg Gold Rush,TheMacmillanCompany,NewYork,1970.

LibraryofCongress70-77972

Thischarming,illustrated,200-pageguidefromthefrontlineofthegoldrushinAlaskaandtheYukonisagem.Itiscrammedwithmaps,cross-sectiondrawingsofminers’cradles,sluiceboxesandTomandRiffleBoxes,alongwithprofilesofprospectorssuchasClarenceJ.Berrywho,withhispartner,scouredout$130,000ofgoldinhisfirstseason.Anyonewhopickedupacopyofthispaperbackenroutetothegoldfieldsmightfeelwellequipped.Itevenhasachapteron‘TheLaw&TheMiner’,illustratedwithdrawingsoftheCanadianMountedPoliceonthejob.Theregisteringofclaimsandthemarkingoflocationsisexplained.TrytofindacopyonAbebooks.com.(TG)

PopularaccountoftheCaliforniagoldrushfrom‘TheGatheringofPeople’astheworldmadeitswaytoCaliforniaoverlandandbyseain1848-9,drawnfromthediariesandmemoirsofthosewhomadethejourney(butnotnecessarilytheirfortune).Dailylifeonthegoldfieldsisportrayedintheirwords,asisthemushroomingofSanFranciscoasagreatseaportonthePacificbythosewhoarrivedbyseaorcamedownfromthe‘diggings’tosquandertheirgoldinitsbarsandgamblingjointsandonitswomen.Meanwhile,backinWashington,politicianswereforcedtotakeseriousnoticeoftheirwesternterritoriesandultimatelyopenthemupbyrailway.Thisisverymuchapeople’sstory.Itdoesnotconsidertheimpactofanewdimensionofgoldproductiononworldmarketsorcoinagewiththeusheringinofthegoldstandard.However,anextensivebibliographypointsthewaytofurtherreading.(TG)

SouthAfricanwriterandhistorianEricRosenthallookedbackin1970(theyearSouthAfricangoldproductionpeaked)totellhowitallbegan.ExpectationsofgolddiscoverieswererifeinSouthernAfricaafterPieterMareis,justbackfromthreeyearsattheCaliforniagoldrush,foundgoldintheDwarsRiverontheRandin1854.Butlittleturnedup;noonerealisedthegoldwasnotinstreams,asinCaliforniaorAustralia,butindeepreefsplungingdownintotheWitwatersrand.ItwasthediscoveryofdiamondsonthebanksoftheVaalRiverin1870thatopenedanewera,bringingnotjustprospectors,butfinanciersonthescene,whowouldultimatelybethemakersofthegoldrush.Eventhen,itwas16yearsbeforethefirstgoldclaimswerepeggedatLanglaagteFarmneartoday’sJohannesburgthatgoldfevertookoff.“Johannesburgwentfromcamptocity,”saysRosenthal.Butitwasnotthetraditional‘diggers’whomadeit,butthediamondmerchantsandfinancierswhorealisedthepotentialandwereabletodrumupthefinance–andstartthegreatminingfinancehouses.Thestoryistoldfromdiaries,newspaperarticlesandmanycontemporaryaccountsthroughthefirstmines,thehiatusoftheBoerWarandtheemergenceoftheworld’slargestminingnationby1914.NotthegoldrushofCaliforniaorAustralia,butofanentirelydifferentnature–agoldrushnonetheless.Theexcitementisinthefinancingandtechnologyquitenewtomining.(TG)

History/Gold Rushes

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History/Mining/Gold & Silver


Peter Bakewell,Silver Mining and Society in Colonial Mexico,1546-1700,CambridgeUniversityPress,1971.ISBN0521082277LibraryofCongress78-158553(hardback).CambridgeUniversityPress,2002.ISBN10:05215223125&ISBN13:978-0521523127(paperback).

Peter Bakewell,Miners of the Red Mountain: Indian Labor in Potosi, 1545-1650,UniversityofNewMexicoPress,Albuquerque,NewMexico,1984.ISBN0826307698/0-8263-0769-8

Peter Bakewell,Silver and Entrepreneurship in Seventeenth-century Potosi,SouthernMethodistUniversityPress,Texas,1995.ISBN0870743864/0-87074-386-4

John F. Healey,Mining & Technology in the Greek and Roman World,ThamesandHudson,London,1978.

ThisisascholarlyinvestigationintotheevolutionofsilvermininginthedistrictsofZacatecasandSombrerete350milesnorth-eastofMexicoCityafterasmallbandofSpanishsoldiers,campingforthenightin1546,wereshownrocksrichinsilverveinsbylocalIndians.Bakewellunveilsthegradualgrowthofmininginthecommunityoverthenextdecades,whichmadeZacatecasoneoftherichestsourcesinMexicoandtransformeditspeople’slives.Hefocusesonthreethemes:theimpactonlocalsandthelotofminers,theabsoluteneedforquicksilver(mercury)toseparateoutthesilverandproductionfromtheminesthemselves.Miningwastotallydependentonthearrivalofquicksilver,whichtheSpanishgovernmenthadtoroundupandshiptotheAmericas(althoughitwashelpedoutbymercuryfromHuancavelicaincentralPerufrom1564).Indeed,thepoliticsofmercurysuppliesbecameamajorheadache;nomercury,nosilver.Theargumentsoverwhatgotshippedwherewereintense.Bakewelllistsnotjusttheoutputofsilver,whichhadtobe(orshouldbe)presentedfortaxation,buttheallocationsofmercurytoNewSpainand,ofthat,whatwenttoZacatecas.ThisisanimportantrecordofthebirthofMexico’ssilver-miningindustry,whichhasbecomethestandardreferenceforlaterresearchers,notablyinJaimeJ.LacuevaMuñoz’sLa Plata Del Rey Y Sus Vasallos,whichislistedintheSpanishlanguagesectorofthisbibliography.(TG)

AfterhisfirstacclaimedbookonsilverminingatZacatecasincolonialMexico(seeseparatereview),ProfessorBakewellturnedhisattentiontothesilverminesofBoliviainMiners of the Red Mountain,onthefirsthundredyearsofthegreatPotosideposit.HespenttwoyearsinBolivianarchivesinvestigatingtheevolutionofthemine,thelocallaboursystems,therisingproductionandthesilverprices.Allthisissupportedbymapsandcontemporarydrawingsofthegreatminesite.Adecadelater,hefollowedthisupwithSilver and Entrepreneurship in Seventeenth-century Potosi,inwhichhesetouthowthisremoteregioncametoyieldalmosthalfofthevastamountofsilverflowingoutacrosstheworldfromtheSpanishAmericancoloniesbetween1550and1650.Alltold,ProfessorBakewell’sthreebookspresentauniquereviewoftheminesthattransformedtheworldofsilverinthe16thcentury.(TG)

ThedefinitivebookongoldandsilverminingandmetallurgyaroundtheMediterraneanfromc.500BCtothefalloftheRomanEmpire.Beginningwithearlyplacerandopen-castmining,itmovesfromundergroundwiththegreatLaurionsilverminesjustoutsideAthens,onwhichthecity’searlyprosperitywasfounded,tothegoldminesofPhilipIIofMacedon,whichgaveGreeceagoldcoinageandfinancedtheinitialexpeditionofAlexandertheGreat.LatertheRomanstookupthechallengeofminingbothmetalsinSpainandgoldinFrance(Gaul),BritainandDacia,northoftheDanube.Miningandrefiningtechniquesareamplifiedbyillustrations,plansofmines,andillustrationsofancientequipmentandundergroundgalleries.Mapspinpointtheminesitesofthetwogreatempires.Assayingtechnologyandthemanufactureofalloysarealsocovered.Thisisahighlyprofessionalrecordoftheearlyworldofgoldandsilveroutput.(TG)


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Alfred Michael Hirt,Imperial Mines and Quarries in the Roman World: Organizational Aspects 25BC-AD235,OxfordUniversityPress,2010.ISBN978-0-19-957287-8

Jaime J. Lacueva Muñoz,La Plata Del Rey Y Sus Vasallos, Minería Y Metalurgia en México(siglosXVIyXVII),

J. H. M. Salmon,A History of Gold Mining in New Zealand,R.E.Owen,GovernmentPrinter,Wellington,NewZealand,1963.

ModernvisitorstoLasMedulasinnorth-westSpain,whereupto300,000t.oz.ofgoldwasminedforalmost200years,arestilloverawedbythegrandscaleofopen-castmininggoldminingoperations.AsAlfredHirtwrites,“themassiveimpactofRomanengineeringonnatureisstillstrikinglyvisible…thecontrolovermetalresourceswasofhighsignificancetoRome”.SohowdidtheRomansmanageoperationsatgoldandsilverminesinfar-flunglocationsinSpain,Britain(Wales)andDacia,northoftheDanube?Theanswerseemstobealmostahands-offpolicy,providedtheygotthegoldorsilverwithouttoomuchbeingsiphonedofftoothers.Theyputalegioninplacetokeeporderandappointedlocal‘procurators’withminingexperience.“Theguidingprincipal,”Hirtargues,“wastokeepimperialinvolvementtoaminimumwithoutrenouncingcontroloftheseventures.”Essentially,theminesitesweresecuredandtheminerslefttogetonwiththeirlarge-scaleoperationswithextensiveuseofwaterpowerincomplexaqueducts.Aquiltworkofmapslocatesalltheminingsites.InDaciaalone,morethan20goldoperationsarepinpointed,whilethelayoutoftheDolaucchidepositinWalesismappedoutdowntothelastbath-house.Overall,apainstakingstudyofthesourcesofRome’swealth.(TG)

ThisisathoroughinvestigationofallaspectsoftheproductionofsilverinMexicofromthe1550sto1700,fromthefirstminesatZacatecastothelaterdiscoveriesatGuadalajara,Durango,SanLuisdePotosíandSombrerete,notleasttheamountsofsilverofficiallydeclaredfortaxationtotheKing(hencethetitleofJaimeLacuevaMuñoz’sbook).Muñoz,oftheUniversityofSeville(whithermuchofthesilverwasshipped)beginswiththetechnicalprocessesofextraction,thegrindingandcrushingoftheores,andtheall-importantsuppliesofmercury(quicksilver)forseparatingoutthesilver.Indeed,mercuryplayedakeyroleintheminingequation;theKingneededsilvertofinancehisempire,butatthesametime,hadtobuyupmercury,mainlyfromEuropeansourcesandshipittoMexico.Thesuppliesofmercuryanditsrelationshiptotheroyalfinanceswerecrucial.AndMuñozlaysoutinstatisticaltablesthequantitiesofmercuryandwhenceitcame,alongwiththegrowingproductionofsilverandtherevenuestotheKing.Zacatecaswentthrougharoughperiodafter1600,butfortuitouslyotherdepositsturnedupthroughthe17thcenturytokeepthetrafficflowing.ThisbookupdatesandexpandsonPeterBakewell’sSilverMiningandSocietyinColonialMexico,alsolistedinthisbibliography.(TG)

ProfessorSalmon,supportedbytheMinistryofMines,celebratesthefirst100yearsofgoldmininginNewZealand.Fromatrickleofalluvialgoldfoundinthe1850sonthebackoftheAustraliangoldrushes,thefirstrealrushontheTuapekaandWaitahamariversoftheSouthIslandin1861,producednearly200,000t.oz.in1861,risingto735,000t.oz.by1866.ProfessorSalmonemphasisestheimportanceofthesediscoveriesontheevolutionoftheNewZealandeconomyandsociety.Theindustryexpandedinthelatterpartofthe19thcenturythroughtheintroductionofbatteries,dredgesandhydraulicelevators.Thebookcontainsusefulmapsofminingareasandanessentialappendixontheannualexportsofgoldfrom1857-1960.(TG)


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Benjamin White,Silver, Its History and Romance,Waterlow&Sons,London,1917(FirstEdition),1920(SecondEdition).NowprintedondemandbyNabuPress([email protected])

BenjaminWhiteworkedintheLondonSilverMarketfrom1884foralmost40yearsandheobserved:“Nomodernwriterhastakensilverforhissubjectastoitshistory,mining,refining,itsuseformanufactureandcurrencyanditsmarkets.”Sohewrotethisvolume.HegoesbacktoancientGreekandRomanmining,thentosilverminingacrossEuropethroughtheMiddleAges,tothediscoveriesinBoliviaandMexicointhe16thcenturythattransformedsupply.MininginCentralandSouthAmericagetdedicatedchapters,asdotheUnitedStatesandCanada.Thenheprovidesessaysonassayingandrefining,allformsofmanufacturefrommeltingtowiredrawing,granulationandstamping,jewelleryandplate.MajormintsandtheircoinoutputarereportedandtheLondonSilverMarketisexplained(withgooddetailonthe‘fixing’,andassayersandrefinerslisted).SilverflowstoIndiaandChinaandpricesarecarefullylogged,alongwithmultinationalstocksofgoldandsilver.Thelanguageisalittleflowery,butasasourceofinformationonthesilversceneinthelate19thandearly20thcenturies,itisinvaluable.(TG)


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Report, together with Minutes of Evidence and Accounts from The Select Committee on the High Price of Gold Bullion;orderedbytheHouseofCommons,tobeprinted,8June1810.

Select Committee of the House of CommonsonthedepreciationofSilver,1876.

Royal Commission on Gold and Silver,“toenquireintotherecentchangesintherelativevaluesofthepreciousmetalsshowninthegoldpriceofsilver”,London1886-88.

Thefamous1810BullionCommitteewassetuptoinvestigatetheriseinthepriceofgoldby20%followingtheBankofEngland’ssuspensionofcashpaymentsofbanknoteswithgoldcoinin1797,intheearlydaysoftheNapoleonicWars.Itwasthefirstwide-ranginginvestigationintogold,witheverywordtranscribedandpublished,togetherwithextensivestatisticsongoldandsilverflows,coinageandotheruses.Essentially,itwasthefirst‘goldsurvey’.TheCommitteecalled29witnessesfromtheBankofEngland’sgovernorandtheheadofitsBullionOfficetobulliondealersandrefinersintheLondonGoldMarket.GoldimporterstoldhowmuchtheywerereceivingfromWestAfrica.ThefirstwitnesswasAaronAsherGoldsmid,partnerinMocatta&Goldsmid,theoldestmembersoftheLondonmarket(nowScotiaMocatta),explaininghowitallworkedandpriceswereset.Thencamebankersandmerchantswhousedgoldintheirbusiness.ThedebatedeclaredJ.K.Galbraithwas“themostfamousinallhistoryonmoneyanditsmanagement”.Itwasalsothefirstinsider’sreportonthegoldtrade–auniquedocument.ItsconclusionwasthattheBankofEnglandhadbeenprintingtoomuchpapermoneysincethesuspensionofpaymentsingoldcoin,althoughtherealcausehadmoretodowiththemarketpressuresfromsupplyinggoldcointokeepBritisharmiesinthefieldinEurope.The115pagesofaccounts,givingstatisticsonallaspectsofgoldandsilverare,inthemselves,atreasurechest.(TG)

The1870swereacrisisperiodforsilverasfirstGermanyandthenmostotherEuropeancountriesswitchedfromsilver-basedcurrenciestogold,eliminatingatastroketheprimeconsumptionofsilverforcenturies.Thepricehadfallenby12%whenthisHouseofCommonsCommitteewassetup“toconsiderandreportuponthecausesoftheDepreciationofthepriceofSilverandtheeffectsofsuchDepreciationupontheExchangebetweenIndiaandEngland”.Theenquirywaspractical:therewerenoargumentsaboutbimetallism.Theprimeconcernwasstatistical.ThreeleadingmembersoftheLondonsilvermarketturnedupwithfilesonsilverproduction(rising),coinage(declining),Germany(selling),India(taking60%ofoutput),price(falling).Betweenthem,theyprovidedacomprehensivepictureofthesilverscene(thefirstgreatsilversurvey).RobertGiffen,TheEconomist’sstatisticalexpert,remarkedontheevidenceofSirHectorHayofMocatta&Goldsmid:“(His)wasthefirstgeneralestimate,coveringthewholeperiodfrom1851,oftheproductionofgoldandsilver.”Inshort,thisreportisauniquearchiveofpreciousmetalstatisticsinthewakeofthegreatgoldrushesofthemid-19thcentury.(TG)

TheCommissionwaschairedbyArthurBalfour,afuturePrimeMinister,andincludedonitspanelSamuelMontagu,thefounderofthebulliondealinghouse.AmongthewitnesseswereSirHectorHayofMocatta&Goldsmid,StewartPixleyfromPixley&Abell,andHenryRaphaelofthebankingfirmandrefinery.WhiletheCommissiondebatedlongabouttheprosandconsofbimetallism,theheartoftheinformation(asinthe1876SilverReport)wasthebatteryofstatisticsprovidedbySirHectorHayandStewartPixley.SirHectorhadbeenmarshallinggoldstatisticsforover30years,withthediligenceofamoderngoldanalyst.HegothisinformationfromWellsFargo,whocourieredmostNorthAmericangoldproduction,theUSMintandthe

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ConsulsinLondonofmanycountries(eventheRussianConsul-Generalobligedhimwithfigures).StewartPixleyhadtohandstatisticsondemandforsmallgoldbarsinIndianbazaarsandevenbroughtalongaten-ouncebarof998gold,whichwasthefavourite.ArthurBalfourquestionedhimcloselyonIndianhoarding.Inthecontextoftoday’sannualgoldsurveys,thiscouldbecalledGold1888.Whileonthebimetallismissue,theCommissioninclinedtoasinglegoldstandard,notsurprisinggiventhattheBritishEmpirehadgoldfromAustralia,Canadaand(just)SouthAfrica.(TG)


40


History/Silverware & Plate


Kathryn G. Buhler and Graham Hood,American Silver,Garven&OtherCollectionsintheYaleUniversityArtGallery,YaleUniversityPress,NewHaven&London,1970(2volumes).ISBN0-300-01181-1LibraryofCongresscard77-99821

Timothy Schroder,The National Trust Book of English Domestic Silver 1500-1900,Viking,inassociationwiththeNationalTrust,1988.ISBN0-670-80237-9LibraryofCongressCatalog86-51502

D. E. Strong,Greek and Roman Gold and Silver Plate,Methuen&Co.Ltd,London,1966.

Thesetwinvolumes,thefirstonNewEngland,thesecondontheMiddleColoniesandtheSouth,presentacomprehensiveportraitofAmericansilverinmorethan500blackandwhitephotographsofsilverwareofeverykindgoingbackbefore1700.Inthisarrayofsaltcellars,cups,bowls,porringers,tankards,knives,forks,spoonsandladles,youseethechangingstylesandgrowingsophisticationoftheAmericansilversmith.ThefirstvolumeisonNewEngland,whereitallreallybegan.ThesecondonMiddleColoniesandtheSouthembracestheworkfromNewYork,NewJersey,Pennsylvania,Delaware,Maryland,Virginia,SouthCarolina,Alabama,LouisianaandontoCalifornia.Asthenationexpandedover300years,thecraftofsilverwentwithit.(TG)

ThisisathoughtfulapproachtosilverbyTimothySchroder,notconceivedasasurveyofobjectsorstylisticdevelopment,butmoreconcernedwiththeroletheplateplayedinthelivesofitsowners,thereasonstheyhadforacquiringit,plusthefinancialcommitmentsinvolved.Hepointsout,too,thatlittleofthesilverisstillinthegreathousesforwhichitwascommissioned,butinmuseums,churchesorCityLiveryCompanies.Heisinterested,too,inthemetalandthecraftsmenwhoworkedit:chasers,engravers,makersofcastornaments,gildersandwirepullers.HequotesfromTheLondonTradesmanof1745:“Goldsmith(silversmith)employsseveraldistinctworkmen,almostasmanyasthereareindifferentArticlesinhisShop…heemploysbesides…manyhandsoutside.”HereflectsthattheirtechniqueshadchangedlittlesincetheMiddleAgesorearlier.Thenhecarriesontochangingtimes–therobustTudors,theElizabethanAge,thevivacityoftheRestoration,theimpactoftheHuguenotrefugeesfromFrancearound1700as50,000craftsmenfledtoEngland,andontotheRococoperiod,Neo-ClassicismandtheVictorianera.Heconcludeswith44shortbiographiesofleadinggoldsmiths/silversmithsfromRobertAdams,goldsmithtoHenryVIIItoDavidWillaume,aHuguenotrefugeewhowasgoldsmithtotheDukesofDevonshire,PortlandandBuccleuch;andalltheirworksshownincrispblackandwhitephotographs.(TG)

D.E.Strong,akeeperofGreekandRomanAntiquitiesattheBritishMuseum,compiledthisthoroughintroductiontotheearlyagesofgoldandsilverplate,completewith126blackandwhitephotographsand40detaileddrawings,frommanysourcesbesidestheBritishMuseum.Henotesthat“longbeforetheyappearedasmediaofexchange,goldandsilverwereusedformakingobjectsofluxury,thepossessionofwhich…wereasymbolofpowerandauthority…whichweretakentothegrave”.Thesurveybeginswiththesourcesofpreciousmetalsinantiquity,themetallurgywhichevolvedover4,000yearsago,thetechniquesofthecraftsmenandtheirtrade.StrongthenfollowstheevolutionthroughAnatolia(Turkey),Crete,Mycenæ,toClassicalGreeceandonthroughtheRomanEmpiretotheendofthe5thcenturyAD.Throughoutthebrillianceofengraving,repousséandgildingongreatbowls,drinkingcups,amphora,mirrorsandcosmeticcasketsisastonishing.(TG)


41



The History of Silver,editorClaudeBlair,Little,BrownandCompany,2000.ISBN0-316-854-54-9(firstpublishedinGreatBritain1987,Macdonald&Co.)

Thisisadistinguishedbookthat,asClaudeBlairsays:“DoessomethingneverattemptedinEnglishbefore:itprovidesinasinglevolume,asurveyofthedevelopmentofsilver–andtoalesserextentgold–plateinEuropeandEuropeanAmericafromtheearliesttimetothepresentday.Headds:“Therangeandauthority…reflectthatithasbeenwrittenbyateamofpeoplewhoarespecialistsintheirfield.”TheyincludecontributorsfromtheVictoriaandAlbertMuseum(whereBlairhimselfworked),theBritishMuseum,theLosAngelesCountyMuseumofArt,andGrahamHughes,ArtDirectoroftheGoldsmithsCompanyinLondon.

TheytracetheearliestusesofsilverinsophisticatedvesselsfromgravesinMesopotamiaandAnatolia(Turkey),thecradleofmetalworking,withamasteryofmosttechniquesstillusedtoday.Fromtheancientworld,thewriterstrawltheMiddleAges,theRenaissance,Baroquesilverofthe17thcentury,thelaterRococcoandArtDecostyles,andContemporarysilver.Allthisisillustratedinblackandwhiteorcolouroneveryspread.ThebookconcludeswithessaysbyClaudeBlairon‘TheCraftoftheSilversmith’,andJohnForbes,AssayMasteroftheLondonAssayOffice,on‘Metals,HallmarkingandMethodsofAssay’.Thisisamanualforallseasonsandavisualfeastofsilversmiths’(andgoldsmiths’)creationsoverfourmillennia.(TG)


4�


History/Treasures


Afghanistan:Crossroads of the Ancient World,eds.FredericHiebert&PierreCambon,CatalogueoftheExhibitionattheBritishMuseum,2011.BritishMuseumPress,London,2011.ISBN798-0-7141-1172-8

Heracles to Alexander the Great:Treasures from the Royal Capital of Macedon, a Hellenic Kingdom in the Age of Democracy.CatalogueoftheexhibitionoftheAshmoleanMuseum,Oxford,in2011,incollaborationwiththeHellenicMinistryofCultureandTourism.MaintextbyDrAngelikiKottaridi,250illustrations.

Howard Carter,The Tomb of Tutankhamun,Barrie&Jenkins,London,1972.ISBN0-214-65128-1

Thisremarkableexhibitionunveiledahostofartefactsingold,silver,bronze,ivory,limestone,evenclay,foundatancientsitesinAfghanistan30ormoreyearsago,thatwerecourageouslyhiddenbyarchaeologistsandmuseumofficialsthroughdecadesofwar–andnowrevealed.Theybeginwithahoardofgoldandsilverbowlsfoundbyfarmersin1966atamountainsiteknownasTepeFulloldatingfrom2200-1900BC.TheyweresuccessfullyhiddenbytheNationalMuseumofAfghanistanduringthewars,butnowarerevealed.EvengreatertreasurefromfourburialsitesatTillya Tepe,theHillofGold,byaRussianteamin1978/79.Theyincludeawonderfulgold‘ManwithDolphin’,ornatedaggerswithagoldimageofaBactriancamel,agoldenboot,amulets,necklaces,asplendidgoldenram,andacrownofmultiplegoldleavesandclaspsshowingDionysusandAriadne.Inall,atreasureofmasterlygoldsmiths’creationsasmemorableasthoseinthetreasureofTroy.Allthisisaccompaniedbyarticlesbythearchaeologistswhofound,andthenliterallyrescued,themfromwars.

OpeningthisexhibitionoftreasuresfromthetombofPhilipIIofMacedon(fatherofAlexandertheGreat)andotherburialsatAegae,theOxfordhistorianandbiographerofAlexander,RobinLaneFox,said:“ThisisthegreatestexhibitionofclassicalGreekartinmylifetime.”Healsosingledoutagoldmyrtlewreathadornedwith112goldflowersfoundinPhilip’stombas“themostbeautifulpieceofancientGreekjewelleryknowntous”.Thisstorybeginsin1977whenthelateProfessorManolisAndronicusdiscoveredPhilip’stombbeneathagreattumulusatVergina(Aegae),theancientcapitalofMacedonia.Philipwasassassinatedin356BCandhisson,Alexander,supervisedtheburial,placinghisfather’sashesinagoldencasket.Nearbywereagoldenhelmetandagoldquiver,completewith74arrowscoveredingoldsheet.Sincethen,extensiveexcavationsledbythearchaeologistDrAngelikiKottaridihaveyieldedmoretreasures.TheexhibitionattheAshmoleanunveiledtothepublicforthefirsttimemorethan500artefacts,notjustingoldandsilver,butinbronze,ivory,pottery,sculptureandevenafriezeofPhilipandAlexanderhuntingwildboar.Ingold,ashimmeringgoldoakandacornwasfoundin2008,whilethetombofawomanknownas‘TheLadyofAegae’containedallherjewelleryofgoldchains,pendants,brooches,hairpinsandaquiltworkofgolddiscsstitchedtoherlong-rottenfuneraldress.TheMacedoniankings’loveofbanquetsisrevealedindrinkingvessels,plates,asilvergildedstrainer,aladlewithabird’sheadandadelicateperfumebottle.AllarareinsightintotheworldofPhilipofMacedonandAlexandertheGreat.(TG)

ThediscoveryofTutankhamun’stombinEgyptin1922wasalandmarkinarchaeologicalhistory,themostimportantfindsintheValleyoftheKings,untouchedformorethan3,000years.ThisisHowardCarter’soriginalaccountofthediscoveryandopeningupofthetomb’sastonishinggoldtreasures,withtheaddedbenefitofnewcolourphotographstakenintheCairoMuseum50yearsafterwards.(TG)

History/Treasures

4�



Timothy F. Garrard,Gold of Africa:JewelleryandOrnamentsfromGhana,Côted’Ivoire,MaliandSenegalintheBarbier-MüllerMuseum,Geneva.PrestelVerlag,Munich,1989.ISBN3-7913-0914-5

Kremlin Gold,1000 Years of Russian Gems and Jewels,TheHoustonMuseumofNaturalScienceandtheFieldMuseum,Chicago,distributedbyHarryN.AbramsInc.,NewYork,2000.ISBN0-8109-6695-6

Hans Wolfgang Müller and Eberhard Thiem,The Royal Gold of Ancient Egypt,I.B.Tauris&Co.Ltd,London,1999.ISBN1-86064-527-5(PublishedinGermanyasDie Schätze der Pharaonen,BattenburgVerlag,Augsburg.)

ThiscollectionofWestAfricangoldwasassembledbyJosefMüllerbetweenthe1920sand1970s.HerevealedthatinwealthyWestAfricankingdoms,withplentyofalluvialdepositsattheirdisposal,goldsmithscreatedboldstylesoftheirown,quiteunlikethoseoftheMediterraneanworld.Indeed,thestrikingfeatureofthetreasuresillustratedhereisthescaleoftheirwork.InancientGreece,goldartefactsmayweigh10,20,even30grams.Here,theyweighinat300to500grams.SoweseeWestAfricankingssittingenthronedongoldenstools,theirhandsdrapedwithfinger-rings,theircostumeslinedwithpiercednuggets,theirearshungwithfour-lobedearrings.Theyaresurroundedbygoldenlionsasasymbolofpowerandthreateninggoldcrocodiles.Thewomen,too,havebasket-shapedearringsof300grams.InMali,somehavegranulatedornamentsof500gramsthatstillretainadelicateair.Moremacabrearejawbonescastingold.Theonlydisappointmentisthatmostoftheornamentsarerelativelynew(unlikeancientGreekorScythiantreasures),becausetheornamentsarerecycledregularly.Whenonekingdied,hisornamentsweremeltedtomakesymbolsofpowerforhissuccessor.(TG)

Thiscatalogueofgold,silverandgemsfromthecollectionsoftheStateMuseumsoftheMoscowKremlindisplaysmorethan100objectsoffineanddecorativearts,andsplendidjewelleryreflectingtheculturalandreligiouslifeofRussiaforthelast1,000years,assembledoverthecenturiesfromtheBlackSearegion,CentralRussiaandtheMoscowKremlin.Theaccompanyingessayssetthesetreasuresintheirculturalandpoliticalhistory,goingbacktotheMongol-TartardominationofRussiafrom1237.Evenbeforethat,theheritagewasrich,withtheopeningillustrationsofbraidedgoldbraceletsfromthe4thcentury.Then,fromthe11thcenturycomesaneight-sidedshrinefromByzantiumingold,silver,goldchasingandengraving,andsilvergilding,followedbya12thcenturyreliquaryingold,silver,enamel,goldengraving,silvercastingandcloisonnéenamelling.Soitgoeson–filigreebracelets,goldencrosses,agoldcrownsetwithsapphires,garnet,emeraldsandpearls,goldenvesselsandsilverdishes.Latercomegoldwinetasters,snuffboxesandtureens,silverteapotsandcreamers,andagoldcigarettecase,withgoldchasing,andtheuniquecreationsofCarlFabergé.Inall,anastonishingdisplayoftheartofgoldsmithsandsilversmithsthroughamillennium.(TG)

ThisjointenterprisebyHansWolfgangMüller,ProfessorofEgyptologyattheUniversityofMunich,andphotographerEberhardThiem,himselfaspecialistonancientEgyptianjewellery,mustrateasthemostsplendidvisualrecordoftheachievementsofgoldsmithsinEgyptstarting5,000yearsago.Thequalityofphotographyandreproductionisimpeccable.Double-pagespreadafterdouble-pagespreadofsharp,close-upphotographsareunrivalled.ThedetailofthegoldenpanelsofTutankhamunandAnkhes-en-paAmunarecaughtineveryrichdetail.ThefocusofEgyptiangoldisoftenonTutankhamun,butherearescenesfromgoldsmithsatworkbeforetheircrucibles,usinglongblowpipestoconcentratetheheatand,nearby,twogoldfoilbeaters.Allthebasicgoldsmiths’techniquesareonview.Thejewelleryitself,includingnecklaces,multi-colouredpectoralsandfloralcrowns,scarabringsandevengoldenfunerarysandals,dazzles.Soitgoesonthroughthedynastiesfromc.3000BCtothePtolemiesin305BC.Auniquewindowontheworldlongago.(TG)

History/Treasures

44



Scythian Gold,editorEllenD.Reader.CatalogueofexhibitionmountedbyTheWaltersArtGallery,Baltimore,andalsoshownatotherUSgalleries1999-2001.Published:HarryN.AbramsInc.,NewYork,1999.ISBN0-8109-4476-6

The Treasure of Troy,Heinrich Schliemann’s Excavations,PushkinMuseum,Moscow,LeonardoArte,Milan,1996.

D. Williams and Jack Ogden,Greek Gold: Jewellery of the Classical World,CatalogueoftheExhibition1994-1995inLondon,NewYorkandStPetersburg,BritishMuseumPress,1994.ISBN0-1471-2202-5(cased)0-1471-2205-x(paperback)

DrEllenReaderWalters,CuratorofAncientArtattheWaltersArtGalleryinBaltimore,bothassembledthisuniqueshowofScythiangoldandwrotemostofthetext.ItbringstogetherthefinestcollectionofScythianobjectsinUkranianmuseumstotellthestoryofanomadicpeople,whoacquiredextraordinarywealthinthe4thcenturyBCbyprovidinggrainfromtheirlandsonthesteppestoGreekmarketsaroundtheBlackSea.TheScythians’culturewas,inturn,enrichedbythoseGreekcontacts.Thetreasures,bothgoldandsilver,comemainlyfromburialsitesaroundthenorth-westoftheBlackSeaandwerecreatedinthecityofPantikapaion,aGreekenclave,withScythiangoldsmiths.Theyrangefrombowandquivercases(gorytos)withgoldpanelsofwar,toagoldhelmetembossedwithscenesofcombat.Bycontrast,ahugepectoral(abreast-platealmost)haspastoralscenesofScythiansonfarmswithcows,lambs,foalsandgoats,andwithbirdsflyingoverhead.Anexceptionalsnapshotingoldofrurallifeover2,000yearsago.(TG)

Thiscatalogue,producedfortheunveilinginMoscowin1996ofthegoldfoundbySchliemann(butlostinWorldWarII)isatreasureinitself.Herearebrilliantphotographsofscoresofgolditems–diadems,rings,earrings,ornatehairpins,stringsofgoldbeads,bracelets,flasks,agoldsauceboat,evenfiveslim,notchedgoldbarsfromaround2500BC.TheyrevealthehighskillsofthegoldsmithsatTroy,thegreattradingcentreinnorth-westTurkey.Thelargestdiadem,acascadeofgoldenleavescutfromsheetmetal,withmorethan4,000‘leaves’andmorethan12,000tinyrings,weighs193grams.ThecollectionisdescribedbythemetallurgistMikhailTreister,supportedbyanessayonSchliemannatTroybyVladimirTolstikov.Moreover,thetreasureitselfremainsondisplayinadedicatedgalleryatthePushkinMuseumforanyonevisitingMoscow.(TG)

Theexhibition‘GreekGold’,combiningthetreasuresofTheStateHermitageinStPetersburg,theMetropolitanMuseumofArtinNewYorkandtheBritishMuseuminLondon,broughttogetherperhapsthedefinitivedisplayofalmost200goldornamentsfromtheGreekworldbetween500BCand300BC.Everyoneofthemisreproducedinthisvolume.Inanopeningessay,DyfriWilliamsoftheBritishMuseumsetsthesceneofwhencethegoldcame(fromSiphnos,MacedoniaandtheconquestsofAlexandertheGreat)andthetechniquesofthegoldsmithswhoworkedwithaminimalrepertoireoftools,relyingontimeandskilltoproducetheirwares,oftenenhancedbyfiligreeandgranulation.ThenWilliamsandJackOgdendescribeeachobjectintimately.Butthestarofthiscatalogueisthegolditself,gleamingoutfromeverypage.(TG)

History/Treasures

45


Markets/Trading


Robert Beale,Trading Gold Futures,WoodheadFaulkner,Cambridge,1985.ISBN0-85941-268-7

Jessica Cross,New Frontiers in Gold: The Derivatives Revolution,RosendalePress,London,1994ISBN1-872803-18-0

Jessica Cross,Gold Derivatives: The Market View,WorldGoldCouncil,2000.

Nigel Desebrock,An Introduction to the Indian Gold Market,VirtualMetalsResearch&ConsultingLtd,andGrendonInternationalResearchPtyLtd,2002.ISBN0-9750147-0-6

Stephen Fay,The Great Silver Bubble,Hodder&Stoughton,London,1982.ISBN0-340-28370X

PracticalguidetotheevolvingNorthAmericangoldexchangesceneinthemid-1980sbyleadinggoldtraderatSamuelMontaguinLondon.(TG)

JessicaCrossassessedtheimpactofnewderivativesinfutures,options,swaps,warrantsandotherexoticinstruments,whichbroughtanewdimensiontothegoldmarketintheearly1990s.Shereportedtheimpactoftherevolutiononminers,market-makers,investorsandspeculatorsandexplainedtheusesofderivativesinthemarket.Theusefulnessofgoldloans,futures,exchangeandOTCoptions,spotdiffered,forwardsandgold-backedpaperwereconsidered,alongwiththeprosandconsofhedging.(TG)

Amajorstudyofthemarket’ssize,scope,operationandeffect,embracingcentralbanks,bullionbanks,gold-miningcompaniesandhedgefunds.Thiswasthemostcomprehensiveanddetailedreviewofthegoldderivativesmarketatthetime.(TG)

PracticalguidetoIndia’sgreatgoldmarket,whichwasfullyliberalisedinthe1990s.Initially,DesebrocksetsouttheroleoftheIndiangovernmentinthisnewandexpandingmarket.Buttheheartofthebookistheimportsofgold,originallyjusttentolabars,nowmorekilobars,andthebanksandbulliondealerswhohandlethem,alongwithmajorrefinersandaquiltworkofsmallunitsacrossthecountry.Thebulkofthebusinessisjewellery,seenbothasadornmentandinvestment,andaccountingformostfabrication,althoughthereisasmallindustrialsector.Voluntaryhallmarkingisalsogrowing.Regionaljewellerystylesandthegrowingnumberofbrandedretailchainsaredescribed.Mumbaipricesfrom1925-2001comparedwithLondonarelisted.AnessentialhandbookforanynewcomertotheIndiangoldmarket.(TG)

InvestigativejournalistStephenFaytells“howtwooftheworld’srichestfamilies,theHuntsofTexasandtheHouseofSaud,triedtocornerthesilvermarket”.Theireffortspushedthesilverpriceinamatterofmonthsfrom$7.50perouncetopeakat$52.50,ontheChicagoExchangeinJanuary1980,beforeaspectacularcollapsetounder$15inweeks.Thetale,toldlikeadetectivestorywithinterviewswithallkeyplayersinDubai,LondonandNewYork,piecestogetherhowthispyramidwasbuiltandpromptlycollapsed.TheschemewasputtogetherlargelyinatinyofficeonarooftopinthesoukinDubai,withBunkerHuntonthesofatryingtowootwoofDubai’smostlegendarytraders,whosawwhatHuntwasuptoandmadetheirownplansaccordingly.TherehadbeenpreviousattemptstocornerthesilvermarketbyIndiantradersintheearly20thcentury,butnothingonthisscale.Withindays,asthepricesliddownagain,Huntcouldnotmeethismargincalls.ThestrengthofthisaccountisthatStephenFayapproachedtheaffairknowinglittleaboutsilver,sohadnopreconceivedideasandturnedinadetailedreporter’saccount.Itis,withoutdoubt,thebestinvestigativebookeverwrittenaboutasingleeventinthehistoryofsilver–orgold.(TG)

Markets/Trading

46



Dr Thi Hong Vang Hoang,‘TheGoldMarketattheParisStockExchange:ARisk-ReturnAnalysis1950-2003’,Historical Social Research Review,35(3);389-411,2010.

Dr Thi Hong Vang Hoang,‘GoldquotedinParisandthediversificationofFrenchportfoliosfrom2004to2009’,Europe-Mediterranean Economics and Finance Review,Vol.6,No.2,pp81-101,2011

Gary O’Callaghan,The Structure and Operation of the World Gold Market,InternationalMonetaryFundOccasionalPaper105,September1993.ISBN1-55775-281-8

Robert Sitt,The Hong Kong Gold Market,RosendalePressLtd,London,1993.TextinEnglishandMandarin.ISBN1-872-803-318

DrHoang,anAssistantProfessorofFinanceatMontpellierBusinessSchool,hasundertakenawideprogrammeofresearchintothefinancialoperationsoftheParisGoldMarketoverseveraldecades.Thesetwopapersdistilherconclusions.Thefirstone,‘Risk-ReturnAnalysis1950-2003’,aboutinvestmentingoldassetsquotedinParisconcludesthatitsrisk-returnisveryinferiortootherfinancialassets(stocksandbonds).Capitalof100newfrancsinvestedingoldNapoleoncoinsinDecember1949wouldhavegivenarealrateofreturnof-1%peryearto2003.DrHoang’ssecondpaper,covering2004to2009,comestoasimilarconclusion,althoughgoldismoreefficientinstockportfoliosthanbondportfolios.Sheisnowmakingastudyofthe‘lifeanddeath’ofthegoldmarketinParisduringthe20thcentury.HerpublicationsarealsoinFrench.(TG)

Usefulsurveyofthemarketworldwide,includingmarketagentsandinstruments,suchasfutures,options,warrants,physicalstockandflows,bullionmarkets,tradingandpricesetting,papermarketsandprices,andSovietgoldoutput.(TG)

RobertSittput30years’experienceasoneofHongKong’sgoldtradersintowritingthestoryofitssophisticatedmarket.HetracesitshistoryfromtheoriginalGold&SilverExchangeSocietytoitsemergenceasamajorre-exportcentre,withChinaonitsdoorstep,andatradingforumusedbyinternationalbullionbankstoquoteaparallelmarketinlocoLondongoldduringHongKong’sopeninghours.Thisbilingualguideprovidesbasicinformationthatanytraderorinvestorneedstoknow.(TG)

Markets/Trading

47


Mining/Modern


Books specially recommended by Paul Burton, Managing Director, GFMS World Gold Ltd:

Sandra Close,The Great Gold Renaissance: The Untold Story of the Modern Australian Gold Boom 1982-2002,publishedbySurbitonAssociatesPty,2002.ISBN0646419188

Michael Coulson,An Insider’s Guide to the Mining Sector: How to Make Money from Gold and Mining Shares, 2ndedition2008,publishedbyHarrimanHouse.ISBN:1905641559

Howard L. Hartman(Author),JanM.Mutmansky,Introductory Mining Engineering,2ndedition,publishedbyJohnWiley&Sons,2002ISBN-13:9780471348511

Paul Johnson,GOLD FIELDS: A Centenary Portrait,publishedbyWeidenfeldandNicolson,1987.ISBN:0297789678

Charles Moon(Editor),MichaelWhateley(Editor),AnthonyM.Evans(Editor),Introduction to Mineral Exploration,2ndEdition,publishedbyWiley-Blackwell2006.ISBN978-1-4051-1317-5

DrClose,arecognisedgoldindustryexpertandformergeologist,bankerandcorporatemanager,presentsacomprehensiveaccountofhowtheAustraliangoldindustrytransformeditselffromonethatwasonitslastlegsinthelate1970stobeingoneoftheworld’slargestgoldproducers.TheGreatGoldRenaissancelooksatthisremarkabletransformationanddocumentshowhigherprices,newtechnologyandAustralianingenuityledtoa20-foldincreaseingoldproductionandhowAustralialedtheworldininnovativefinancingandmarketingmethods.(PB)

Aformermininganalystandcityveteran,MichaelCoulsonisatrue‘insider’andbringsavastamountofexperiencetoexplainboththerewardsandthepitfallsofinvestinginminingshares.Theprospectofinstantrichesgivestheminingsectoranobviousglamour.Andwhentheminingsectorbeginstorun,itcanbeanawesomesight.Butduetothecounter-cyclicalnatureofmanyminingstocks,theycanalsoofferavaluablerefugewhenstockmarketsturndown.MrCoulson’sbookprovidesastudyofthehistoryofmining–focusingparticularlyonthesignificantboomsandbusts–looksatthelatest,biggestimporterssuchasChinaandIndia,andarguesconvincinglythatminingshouldformacoresectorforallinvestors.(PB)

Introductory Mining Engineeringoutlinestheroleoftheminingengineerthroughoutthelifeofamine,includingprospectingforthedeposit,determiningthesite’svalue,developingthemine,extractingthemineralvaluesandreclaimingthelandafterward.Thissecondeditioniswrittenwithafocusonsustainability,managinglandtomeettheeconomicandenvironmentalneedsofthepresentwhileenhancingitsabilitytoalsomeettheneedsoffuturegenerations.Coverageincludesabovegroundandundergroundmethodsofminingforawiderangeofsubstances,includingmetals,nonmetals,andfuels.Newchaptersincludecoverageof:environmentalresponsibilities;regulations;andhealthandsafetyissues.Thetextissupplementedwithmorethan200photographs,drawings,andtables.(PB)

GoldFieldswasthefirstoftheminingfinancehousesthatweretocharacterisetheSouthAfricangold-miningindustry’sorganisationformanygenerations.Itwasformedin1887byCecilRhodesandCharlesRuddasaLondoncompanytoholdpropertiestheyhadacquiredontheTransvaal’sWitwatersrandgoldfields.Historianandpoliticalcommentator,PaulJohnson,haswrittenafascinatingstudyofauniqueventure.TheauthorcataloguestheexpansionofthecompanyintoothergeographicareassuchasAustralia,WestAfricaandtheUS.Illustratedwithnumerousblackandwhiteandcolourphotographs.(PB)

Thisbookcoversnotonlythenatureofmineralexplorationbutalsoconsidersotherfactorsessentialtosuccessfulexploration,fromtargetevaluationtofeasibilitystudiesforextractionandproduction.Itincludessixdetailedcasestudies,selectedfortherangeofdifferentproblemsandconsiderationstheypresenttothemineralexplorationist.Thesecondeditionfeaturesanewchapteronhandlingmineralexplorationdata.(PB)

Mining/Modern

48



Jack H. Morris,Going for Gold:The History of Newmont Mining Corporation,publishedbytheUniversityofAlabamaPress,June2010,ISBN13:9780817316778.

T. E. Anin,Gold in Ghana,SelwynPublishersLtd,Accra,1987.2ndEdition,SelwynPublishers,London,1990.ISBN0951724207/0-9517242-0-7

A. P. Cartwright,The Gold Miners,Purnell&Sons(SA)PtyLtd,CapeTown&Johannesburg,1962.

A. P. Cartwright,Gold Paved the Way, The Story of the Gold Fields Group of Companies,Macmillan,London;StMartin’sPress,NewYork,1967.

Vivian Danielson & James White,’BRE-X,ToldToday,GoneTomorrow:AnatomyoftheBusangSwindle’,The Northern Miner,Toronto,1997.ISBN55257-003-7

Thishistoryofoneoftheworld’sgreatgoldcompanieswaswrittenbyinsider,JackMorris,aformervicepresidentofInvestorRelationsatNewmontandpreviouslyaWall Street Journalreporter.Thebooktracesthecompany’shistoryfromtheturnofthe20thcenturycreationbyawealthyWallStreetexecutivetoamodern,globalgoldcompanyandthesecond-largestgoldproducerintheworld.(PB)

ThispracticalguidetotheminingindustryinGhanabytheformerchiefexecutiveoftheGhanaCommercialBank,T.E.Anin,aimed“tostimulateinterestinthe…developmentofGhana’sgoldendowment”.Giventhatannualoutputwas12m.t.in1986whenthebookwaswrittenandisnowover90m.t.annually,itmayhavehadsomeeffect.Afteraswiftrun-throughofthehistoryofproductionontheGoldCoastfrom1460-1945,AnintracksthesteadygrowthoftheAshantioperationsthatevolvedintoseriousminingbythemid-1980s.HethengivesadetailedgeologicalsurveyofGhana’sgolddeposits,settingthesceneforexpansion,whichwasaidedbyanewMiningandMineralsLawin1986.Thus,AnincaughtGhanaonthecuspofbecomingamajorgoldproducer.(TG)

AlanPatrickCartwright,journalistandeditor,becamethehistorianoftheSouthAfricangoldfieldsfromthefirstclaimspeggedontheMainReefatLanglaagteFarmthreemilesfromJohannesburgin1886,totheirsupremacyinthe1960swhentheminesproducedovertwo-thirdsofworldproduction.HewritesontheentrepreneursJ.B.Robinson,AlfredBeit,ErnestOppenheimerandGuyCarletonJones,whofoundedthegreatmininghousesthatcouldprovidethecapitaltoexploreanddevelopthecomplexdeepreefsoftheWitwatersrandBasin.Sohereisthestoryofthe‘WestWitsLine’,theKlerksdorpfield,theOrangeFreeStatefieldand,latterly,KinrossintheTransvaal.Thisisareporter’saccountoftheheydayoftherichestgolddepositstheworldhasyetseen.(TG)

Pickingupfromhisearlierchronicle,The Gold Miners,A.P.Cartwrightfocusesonthefirst80yearsofGoldFieldsofSouthAfrica,themininghousethatCecilRhodesandhispartner,CharlesRudd,establishedin1887.Theirfirstmines,SimmerandJack,followedbyRobinsonDeepMine,markedthemoutasthemininghousetowatch(beforeErnestOppenheimercameonthescene).ThemomentumwasmaintainedbythenextgenerationwhenGuyCarletonJones,theconsultingengineer,backedaGermanprospector,DrRudolfKrahmann,intheearly1930swiththefirstuseofamagnetometerinthesearchfordeepreefswestofJohannesburg.HispinpointingoftheWestWitsLinesetGoldFieldscourseformanydecades.(TG)

VivianDanielson&JamesWhiteofCanada’sNorthern Miner,piecetogetherthestoryofBRE-XMinerals’BusangprojectinIndonesiawhich,inthemid-1990s,wentfrombeing“theworld’slargestgolddeposit”tothebiggestgoldswindleinmininghistory,deceivinganalystsandinvestors.EvenmajorminingcompaniessuchasBarrickGoldandPlacerdomeweretempted,as‘slated’drillingcoreswereturnedinforanalysis.ThesagaruinedmanyreputationsintheCanadianminingindustryandremainsacautionarytale.(TG)

Mining/Modern


4�



Marshall C. Eakin,British Enterprise in Brazil, The St John d’el Rey Mining Company and the Morro Velho Gold Mine 1830-1960,DukeUniversityPress,DurhamandLondon,1989.ISBN0-8223-0914-9

R. P. Foster (Ed.),Gold ‘82, The Geology, Geochemistry and Genesis of Gold Deposits.FortypaperspresentedatasymposiumorganisedbytheGeologicalSociety,1982,A.A.Balkema,Rotterdam,1984.

Theodore Gregory,Ernest Oppenheimer and the Economic Development of Southern Africa,OxfordUniversityPress,London,1962.

Paul Johnson,Consolidated Gold Fields:ACentenaryPortrait,Weidenfeld&Nicolson,London,1887.ISBN0-297789678

A. King,Gold Metallurgy on the Witwatersrand,Technicalpapersby17metallurgistsandgeologists,TransvaalChamberofMines,1949.

TheMineracaoMorroVelhogoldmineinMineasGeraisprovinceofBrazilopenedin1835andistheworld’soldestcontinuallyworked,deepshaftmine.Theoriginalcompany,formedin1830,wasStJohnd’elReyMiningCompanyandoutputbeganin1835.MarshalEakinhastrackedthegrowthofthecompanyasoneoftheearliestexamplesofindustrialcapitalismventuringintoaremoteruralarea,transformingthelivesofthepeople.Fromthestart,thecompanymarketedmostofitsgoldinLondon,withinvestmentfromthemarketthereandPercivalNortonJohnson,founderofJohnsonMatthey,workingouthowtorefineitstrickyoresinthe1830s.Intheearlydecades,slavelabourwasused,butthatevolvedintoapaidworkforceinthe1880s.Eakinsetsoutthegeologyofthedeposit,withitsdeepores,requiringmuchmineplanning.TheminewasgreatlyaidedbythenewtechnologythatcamefromSouthAfricainthe1890sonthetappingofdeepreefsandnewrefiningtechniques.AnditisnotsurprisingthatMorroVelhowaseventuallytakenonbySouthAfrica’sAngloAmericaninthe1970sandisnowoperatedasAGAMineracao,withproductionaround300,000t.oz.annually.(TG)

ThesehighlytechnicalpaperswerepresentedinHarare,Zimbabwein1982to200delegatesfrom28countries.ThesymposiumwasthefirstheldbytheGeologicalSocietyofZimbabwe.Themainthemeswere:GoldinCrustalRocks,GoldinHydrothermalFluids,StrataboundGoldDeposits,Non-strataboundGoldDeposits,andRegionalSettingandControlsofGoldMineralization.(TG)

SirErnestOppenheimerwasthelastofalineofSouthAfricanminingentrepreneurssuchasCecilRhodes,BarneyBarnatoandGuyCarletonJones,whohadthecouragetostaketheirreputationsonthepotentialofanewgoldfield.Whilehisearlylifewasindiamondsratherthangold,withthecreationofDeBeersastheworld’slargestproducer,hefoundedAngloAmericanCorporationin1917,whichwastobecomethelargestgoldminerinSouthAfricathroughthesecondhalfofthe20thcentury.Hence,thetitleofSirTheodoreGregory’sbookonOppenheimer’sroleasabuttressoftheSouthAfricaneconomy(GregoryhimselfwasProfessorofEconomicsattheLondonSchoolofEconomicsandProfessorofSocialEconomicsatManchesterUniversity).Onthegoldfront,Oppenheimer’smajorachievementwasbackingthediscoveryofnewgoldfieldsintheOrangeFreeStateinthelate1940s,whichyieldedfouroftheindustry’sseven‘super’minesoverthenextfewdecades.“TheOrangeFreeStatewasagamble,”thechairmanofarivalmininghouseoncesaid.“NoonewouldstartaminetodayonthebasisoftheinformationavailableonFreeStatein1946.”ThisisanessentialbookontheroleofgoldmininginSouthAfrica,withproductionfiguresandshareofworldoutput,1887-1960.(TG)

BriskhistoryofConsolidatedGoldFieldsfromitsfoundingin1887byCecilRhodesandCharlesRuddtoaglobalmininghouseacenturylater,withstakesincoal,copperandplatinum,alongwithitsleadingroleingoldthroughGoldFieldsofSouthAfrica.(TG)

MrKing,himselfaconsultingmetallurgistprominentintheadvancementofgoldmetallurgy,gatheredtogethertechnicalpapersbymanyofhisfellowmetallurgistsandgeologiststopresentthisextensivevolumeontheWitwatersrand’sgolddeposits.Topicsspanthebasicgeology,sortingandcrushing,tube-millandball-milling,recoveryofgoldbygravityconcentration,sandandslimetreatment,precipitation

Mining/Modern

50



John Lang,Bullion Johannesburg: Men, Mines and the Challenge of Conflict.JonathanBall,Johannesburg,1986.ISBN0868501301

Ken Lefolii,Claims: Adventures in the Gold Trade,KeyPorterBooks,Toronto,1987.ISBN1-55013-000-5

Owen Letcher,The Gold Mines of Southern Africa: The History, Technology and Statistics of the Gold Industry,publishedbytheauthor,Johannesburg,inconjunctionwithWaterlow&SonsLtd,London,1936.

John D. LittlepageandDemaree Bess,In Search of Soviet Gold,GeorgeHarrap,London,1939.

fromcyanidesolution,cyanideclean-upandbullionrecovery,refiningofbullion,smeltingofgold-bearingmaterialandthechemistryofblanketoretreatment.Extensiveplantdiagramsareincluded.Abookbyprofessionalsforprofessionals.(TG)

BullionJohannesburgwastheoriginaltelegraphicaddressoftheChamberofMinesofSouthAfrica,whereJohnLangworkedformanyyearsbeforewritingitshistorytomarkthecentenaryofthegolddiscoveriesinSouthAfricain1886.TheChamberitselfopenedastheWitwatersrandChamberofMinesin1889“topromoteandprotectthemininginterestsandindustriesoftheWitwatersrandGoldFields”.Essentially,itheldtheringbetweenminers,governmentandunionsasSouthAfricagrewintotheworld’slargestproducer,accountingforover75%ofallnewoutputby1970.SouthAfrica,forawhile,wasgoldproductionandtheChamberwastheheartofthatoperation,surroundedbythemininghouses,withitsownRandRefineryturningoutupto1,000m.t.ofgoldannually.TheChamber’smarketingarmbecamemoreaggressiveinthe1970s,launchingtheoneounceKrugerrand,favouredbyinvestorsworldwide.Anditsoughttokeepdetached,ifpossible,fromthegrowingpoliticalandracialtensionsofthe1980s.Thisisahighlyprofessionalhistory.AsProfessorBurridgeSpiesoftheUniversityofSouthAfrica,aconsultantonthebook,putit:“Ithassomethingtosaytotheminingspecialist,thestudentofhistoryandthegeneralreader.”(TG)

Aninsider’saccountoftheconfrontationintheSupremeCourtofOntario,Canadabetweentwominingcompanies,LacandCorona,overtherightstopropertiesontheHemlogoldfieldinNorthernOntario,whichhadrevivedCanada’sgoldindustryinthemid-1980s.Blow-by-blowaccountofthecourtroombattle,whichLacwon,althoughatconsiderablecost.Anobjectlessoninthecomplexityofmineralrightsinopeningupanewgoldfield.(TG)

Massivevolumeofstocktakingonthe50thanniversaryofgolddiscoveriesinSouthAfrica.OwenLetchergoesrightbacktogolddiscoveriesinsouthernAfricaevenbeforethecrucial1887peggingontheMainReef.Thereafter,hehasanecdotes,cartoons,photographs,costandproductiondetailoftheblossomingmines,flowsheetsoftubemillingplants,andmapsoftheWitwatersrandGoldfieldsshown,minebymine,in1936.Healsopublishesthebalancesheets,withshareholdings,outputandorereserves.Atreasuretroveofinformationforresearchersseekingdetailonthefirsthalf-centuryofSouthAfrica’sgold.(TG)

IntriguingaccountofanAmericanminingengineerfromAlaskawhowaswooedbytheRussianstohelpintheopeningupoftheiralluvialandplacerdepositsinSiberiainthe1920sand30s.StalinwasfascinatedbytheimpactoftheCaliforniangoldrushof1849inopeninguptheFarWestinAmerica.SohesoughttotemptRussianstotrektoSiberia.From1928to1937,LittlepagetravelledthelengthandbreadthoftheSovietUnionsupervisingthecreationof90steamandelectricdredgesinalluvialdepositsonriversandpowerhouses,mechanicaljoists,crushersandcyanideplansinlodemines.Yetheneverrevealedhowmuchgoldwasproducedbythisboom,althoughSovietoutputgrewsignificantly.(TG)

Mining/Modern

51



Salvador Lopez,Isles of Gold: A history of mining in the Philippines,OxfordUniversityPress,Singapore,1992.ISBN0195889657

Ouro,GovernodoEstadodeMinasGerais,MetaisdeMinasGeraisSSSA,BeloHorizonte,Brazil,1981(inPortuguese).

Thisbook,commissionedbytheChamberofMinesofthePhilippines,isbilledas“thedefinitivehistoryofminingin…acountrylongknownas‘TheIslesofGold’”.SalvadorLopezspentsevenyearswritingit,undertakingathoroughjob.Hestartswiththemineralisationoftheislandsasadistinctgeologicunit,whichhistoricallyattractedChina,Japanand,aboveall,Spainasasourceofgold,longminedinplacerandlodeoperations(clearlydesignatedbymaps).Annualproduction,minebymine,andexportsarechartedfrom1899-1937,withfurtherdetailedcoverageofthegold-miningrevivalofthe1970sand80sinnewlydiscoveredgold-copperdeposits.Aspecialsectionisdevotedtogold-panningandsmall-scaleminingwhichyieldssignificantquantities.Anessentialbookforanyoneseekingtofamiliarisethemselveswithminingontheislands.(TG)

Thisbook,putoutbytheminingindustryinMinasGeraisprovinceofBrazilin1981inthemidstofthelocalgoldrushpromptedbythehighinternationalpricein1980,isausefulintroductiontogoldmininginBrazilduringthelastthreecenturies.AlthoughinPortuguese,itisreadilyunderstandable,withcleardescriptionsoftheminingareasandminingcompanies.Goldoutputistracked,bothintheearly18thcenturygoldrushandfrom1900to1980,withtheall-importantdistinctionbetweengoldminesandunofficialgarimpoproduction.AquickwaytolearntheminingbackgroundofBrazil(withthebenefitofwonderfulcolourreproductionfromtheearlydays).(TG)

Mining/Modern

5�



& Marketing, MKS Finance SA, Geneva



Peter L. Bernstein,The Power of Gold: The history of an obsession,JohnWiley,NewYork,2000.ISBN0-47125210-7

Alexander Del Mar,A History of the Precious Metals,CambridgeEncyclopaediaCompany,NewYork,1902.Republished:AugustusM.Kelly,NewYork,1969.Reprintsondemandnowwidelyavailablefromseveralsources,seeAbebooks.

Eliyahu Ashtor,“TheVenetianSupremacyinLevantineTrade”,Journal of European Economic History, III,Rome,1974,pp.5-53and“TheVolumeofLevantineTradeintheMiddleAges(1370-1498),Journal of European Economic History,VI,Rome,1975,pp.573-612.

K. N. Chaudhuri,The Trading World of Asia and the English East India Company 1660-1760,CambridgeUniversityPress,1978.ISBN0521217164

PeterL.Bernsteincombinesthezestofahistorianwiththemeticulousanalyticalpowersofaneconomist.Thisbookreadsasajourneythroughcenturies,itevokeshowgoldshapedhumanhistorybutalsohowitpossessedmankindratherthanbeingpossessed.Animpressivehistoricalworkrangingfromveryancienttimestomodernhistory,wheregoldoftengetsattributedaddictiveandobscureforces.Aperfectlessonaboutgoldhistoryandperhapswhattoretainfromit!(FP)

AlexanderDelMarwasapoliticaleconomist,historianandauthor,whowroteseveralbooksonmoneyinthelate19thcentury,includingthiscomprehensivevolumeonthehistoryofpreciousmetals,completewithmaps,chartsandstatistics.Ithasbecomesomethingofaclassicand,nowbeingoutofcopyright,iswidelyprintedondemand.Originalcopiesarehardertocomeby.(SE)

ThesetwoarticlesbyProfessorAshtorcomplementtheworkofLane&MuellerintheirmonumentalbookonVenice.HetrackedtheschedulesofthegalleyfleetsfromVenicetoBeirutandAlexandriaeveryyearfrom1380to1496tobuyoliveoil,clothandbasemetals,whichtheypaidforwith200,000or300,000goldVenetianducats.Auniqueearly‘goldsurvey’.(TG)

K.N.Chaudhuri,oftheSchoolofOrientalandAfricanStudiesinLondon,wasthegreatinvestigatoroftheEnglishEastIndiaCompanyanditstradewiththeEastinthe17thand18thcenturies.Thattradewasfinancedprimarilyinsilver,toalesserdegreeingold.Chaudhuriexplains:“ThetradingworldofEuropeandAsiawascastinnewdimensionsbythediscoveryandworkingsoftheSpanishAmericanminesinthe16thcentury,whichsetinmotionaworldwidemovementofpreciousmetals.ThosemetalslargelyendedupintheEast,eitherdirectlyacrossthePacificfromAcapulcotoManilaandthenceChinaandBatavia(Indonesia),orbytheannualflota de platafromVeraCruztoCadizinSpainandontotheEnglishandDutchEastIndiaCompanies.“Asia,”hewrites,“absorbedprodigiousamountsofpreciousmetals.”Hehasamapofworldsilverflowsfrom1650-1760thatwoulddocredittoanysuchsurveytoday.ThemaindestinationsfortheEastIndiaCompanywereBombay,MadrasandBatavia,withthesilvermostlyasbullion,whichwasthencoinedinAsia.Inreturn,camerawsilk,saltpetre,blackpepper,indigo,coffee,chinawareandporcelain,teaandtextiles.Chaudhurisetsitalloutwithtablesongoldandsilverpricesandratios,thequantitiesofpreciousmetalsshipped,andtheweightandstandardsofcoins,whethersilverSpanishdollars,goldIndianPagodasorsilverrupees.Thebookisawindowontheworldofthepreciousmetalstrade300yearsago.(TG)


Book specially recommended by Sam Etris, Technical Consultant, The Silver Institute


5�



Sir Albert Feaveryear,The Pound Sterling, a History of English Money,2ndeditionrevisedbyE.VictorMorgan,OxfordUniversityPress,1963.

Gold,areprintoftheSpecialNumberof The Times,TuesdayJune201933.TheTimesPublishingCompanyLimited,London,1933.

Timothy Green,The Ages of Gold,GFMSLtd,London,2007.ISBN978-9555411-1-7

Earl J. Hamilton,American Treasure and the Price Revolution in Spain 1501-1650,HarvardUniversityPress,Cambridge,Mass.,1934.

“ThisbookisanattempttocombineahistoryofthecoinageandthepapercurrencywithsomuchofthehistoryoftheBankofEnglandandtheotherbanksasrequiredtomakeacompleteaccountofthedevelopmentofthemonetarysystem,”wroteSirAlbert,originallyintroducinghisbookin1931.Assuch,itisaclassic,detailingthepoundasaunitofaccount,withonepoundtroyweightofsilverandthepoundofmoneythesame,withthepoundofsilverbeingmintedinto240pennies.FromthathumblebaseintheMiddleAgescameasilverstandardforcoinage,thenforgoldinabimetallicsystemwithfluctuatingprominenceofbothmetalsaccordingtothelatestminediscoveries.CenturybycenturyFeaveryeardescribestheebbandflowofgoldandsilvercoin,withtheultimatetriumphofthegoldstandardinthe18thcentury,throughSirIsaacNewton’spricingmistake,toitseclipseinthe20thcentury.Thisbookis,indeed,aneducationinthehistoryofEnglishmoney.(TG)

Promptedbythefinalcollapseoftheinternationalgoldstandardin1933astheUnitedStatescameoffgold,The Timespublishedthissnapshotoftheworldofgoldatthatmoment.Fortyarticlesbyitsstaffandcorrespondentstackledeverythingfromgolddepositsandproductionofgoldtomonetarygoldstocksandthegoldstandard,alongwiththeLondonBullionMarket,theBankofEngland,theRoyalMint,theRand’svastresources,theancientindustryofIndia,goldmining,refining,jewellery,industrialuseandcoinage.Inshort,atopicalbriefingofallaspectsofthecrisisforitsreaders,butalastinghistoricaldocument.(TG)

The Ages of Golddescribesthemetal’shistoryfromthefirstgoldsmithspunchingpatternsofanimalsongoldsheetbefore4000BCtoitsroletodayinelectronics.Buildingon40years’researchintogold,TimothyGreenhassoughtoutitsoriginsinMesopotamia,Egypt,Troy,MinoanCrete,Greece,Rome,ByzantiumandPre-ColumbianSouthAmerica.HechartsthePhoenicians’voyagesforWestAfricangold.Heexplainsthecrucialchemicalbreakthrough(additionofsalt)thatenabledgoldtoberefinedtoaconsistentfineness,sothatCroesusofLydiacouldmintgoldcoins.Hedescribesthegold‘fixings’ontheRialtoinVenice,wheretheMinthaditsownrecipeforrefiningitsducats,whichwereacceptablethroughouttheMediterraneanworld.Theclimaxwasthegoldrushesofthe19thcenturytoCalifornia,AustraliaandSouthAfricathatunderwrotetheworldwidegoldstandard.Finally,hedescribesgold’sroleinthisageofhightechnologyinmining,marketsandmetallurgy.Gold’suniqueductilityandconductivityhaveplaceditattheheartoftoday’selectronics,asversatileonearthasinspace.Thirty-twopagesofcolourpicturesillustrategold’sbeautyinadornmentandimportanceascoin.(LBMA)

Thededicationofthisbookis“ToSita,whocrossedtheAtlanticattheageofsixweeksandrambledoverSpainthenexttwoyearsonthetrailofoldpapers”.TheoldpaperthatthisyoungHarvardresearchstudentsought,intheArchiva General de Indias onthewaterfrontinSeville,wasmanifestsandbillsofladingofthefirstSpanishshipsreturningfromtheNewWorldwithgoldandsilver.Hamilton’sachievementwastopiecetogethertheimportofbothmetals,yearbyyear,from1501-1650.Thestatisticscharttherisinginflowofgoldbetween1501and1550astheSpaniardsgottheirhandsonIncagoldornamentsandmeltedthemdown.Theimportssurgedin1534-35withthedefeatoftheIncasbyPizarro,thentrailedoff.Therewasnorealminingatthisstage;itwasalllootedtreasure.Silver’sturncameafter1560,whentheamalgamationprocessofsilverwithmercuryboostedoutputinBolivia,


54



William Jacob,An Historical Inquiry into the Production of the Precious Metals,twovols.,JohnMurray,London,1831.(ReprintedbyAugustusM.Kelley,EconomicReprints,NewYork,1968andKessingerPublications,Whitefish,Montana,USA,2011,printondemand).ISBN1164195409/1-164-19540-9

David Kynaston,The City of London, Vol.I, A World of Its Own 1815-1890,Chatto&Windus,London,1994.ISBN0-7011-6094-2

David Kynaston,The City of London, Vol.II, Golden Years 1890-1914,Chatto&Windus,London,1995.ISBN0-7011-3385-6

Pre-Columbian Gold,Technology, Style and Iconography,editorColinMcEwan,BritishMuseumPress,2000.ISBN0-71412534-2

atPotosi,andinMexico.Silverproductionrosenine-foldfrom1500-1600,butgold’swasupmerely50%.MuchofthismetalwascoinedattheMintinSeville,withimmenseimpactacrossEurope,sustainingSpain’sarmiesinthefield.ThevalueofHamilton’sresearch(whichcertainlyunderstatedgoldandsilverflowsbecauseofsmugglingtoavoidtheKing’sone-fifthtax)wastoprovidedetailedtablesoftheemergingpreciousmetalflows.(TG)

Thisisbothadiligentandcharminginvestigationintothehistoryofgoldandsilver,whichWilliamJacobputtogetherover25years,encouragedbysuchdiversepoliticianssuchasWilliamHuskisson,WilliamPitt,SirRobertPeelandDavidRicardo,anxioustolearnmoreabouttheeffectofgoldandsilverontheproductionofwealthanditsdistribution.Itrepresentsperhapsthefirstmajorhistoryofthemetalsonaworldwidebasis.Jacobstartswithbiblicalevidence,goesthroughCroesus,DariusinPersia,Greece(notleastLaurionsilvermines),theRomanEmpireandmininginmedievalEurope,followedbythefirstgoldandsilverfromtheAmericas,leadingtonewcoinagesinbothmetals.HefocusesparticularlyontheimpactofsilverfromPotosiandtheoverwhelmingsuppliesfromMexicoandlatergoldfromBrazil(thebiggestgoldrushwhenthisbookwaswritten;CaliforniaandAustraliawere20yearsaway).Hesetsoutgoldandsilverconsumptioninhisowntimewithdetailsofcoinage(thebiggestuser),hallmarkingstatisticsofwatchesandjewelleryandtheofftakefortheEast.Heroundsoffwithusefulappendicesonminingoutput,coinagesandsilverflowsfromBritaintoIndiaandChina.Afascinatinginsightintopre-CalifornianandAustraliangold.(TG)

TheimpeccableandstimulatingstoryoftheriseoftheCityofLondonastheworld’sleadingfinancialcentreprovidesaframeworkforunderstandinghowthegoldmarketitselfplayedakeyrole.NathanMeyerRothschildstridesthroughitspages,whileMocatta&Goldsmid,SamuelMontaguandPixley&AbelareinandoutoftheBankofEngland’sBullionOffice.(TG)

SecondvolumeofDavidKynaston’smajesticstoryoftheCitysetsincontexttheevolutionofgold-miningfinanceforthenewminesinSouthAfrica,theheydayofthegoldstandard,aseverymajornation,saveChina,wasonit.Then,intherun-uptoWorldWarIin1914,cameapreoccupationwithgoldreservesandtheshiftfromgoldcoininpeople’spocketstogoldincentralbankvaults.(TG)

Thisremarkablebook,editedbyColinMcEwan,CuratoroftheLatinAmericancollectionsattheBritishMuseum,bringstogether13distinguishedarchaeologistsandmetallurgistsfromtheBritishMuseumitself,theGoldMuseuminBogota,Colombia,theInstituteofArchaeologyinLondon,theCenterforArchaeologicalMaterials,Massachusetts,InstituteofTechnologyandtheArchaeologyandPalaeoecologyattheSmithsonianTropicalResearchInstituteinPanama.TheyembracethegreatgoldlegacyofPeru,Bolivia,Chile,ColombiaandCentralAmericaandtheCaribbean,beforetheSpanishconquests,whichlargelydestroyedthoseancientsocietieswiththeiramazingskillsinworkinggold.WelcometothecreationsoftheNasca,theChimy,theMocheandtheIncainPeru,theQuimbaya,Tolima,ZenuandMuiscaofColombia,andtheCocléinCentralAmerica.Allthisinablendofscholarlyessaysandcolourillustrations.ThisisacompleteeducationintheworldofPre-Columbiangold.(TG)


55



Ernest Seyd,Bullion and Foreign Exchanges,EffinghamWilson,RoyalExchange,1868.(Abebooksprintondemand,ISBN1436794307)

ThisisthebestbookonallaspectsofthegoldandsilvermarketinLondoninthe19thcentury(andarguablythebestever).Theoriginaleditionisacollector’sitem,butfacsimileversionsarenowavailable.Seydopenswithdetailonthemalleabilityandductilityofgold,explainingthatonegramofgoldcanbedrawnintowire600feetlong.Thenheisoffondefinitionsofgoldandsilverinblocks,bars,ingots,pieces,andcoins.Heevenestimatesthattotalworldproductionofgoldto1868was300millionounces.Hedescribesthetechnologyofassaying,refiningandthepatternofweightsandprices.Theroleofthebullionbrokersandtheshippingofbullion,withfreightrates,ismeticulouslyexplained.SoifyouneedtoshipgoldfromLondontoParisorsilvertoBombay(viaMarseilles),herearetheprocedures,withsampleinvoices.YouwanttoimportgoldbarsfromCalifornia,herearesampleinvoicesandshippingcosts.Themintingofgoldcoinsisexamined,whiletheBullionOfficeoftheBankofEngland,theheartofthemarket,getsathoroughtour.Actually,nootherbookongoldandsilverhaseverbeensuchafountainofinformation.(TG)


56


Book specially recommended by Mark Grimwade, Metallurgical Consultant to Worshipful Company of

Goldsmiths and Professional Member of the Institute of Materials, Minerals and Mining, UK:

Refining & Bars


Roland Loewen,Small Scale Refining of Jewelers Wastes,Met-ChemResearchInc.,USA,1995.ISBN0-931913-19-5.

Nigel Desebrock,Gold Refiners and Bars Worldwide,GrendonInternationalResearch,Fremantle,WesternAustralia,1991.ISBN064631503

Nigel Desebrock,The Industry Catalogue of Gold Bars Worldwide,GrendonInternationalResearch,Fremantle,WesternAustralia,1998.ISBN0-656-34491-9

Andrew RamageandPaul Craddock,King Croesus’ Gold: Excavations at Sardis and the History of Gold Refining.BritishMuseumPress,London,2000.ISBN0-7141-0888-X.

Havingworkedinthechemicalengineeringindustryformanyyears,Loewengainedaninterestinthedesignandproductionofjewellery,firstasahobbyandthenasapart-timebusiness.Fromthat,hedevelopedtechniquesforsmall-scalerefiningofjewellers’wasteandscrapforgold,silver,platinumandpalladium.Thisbookdescribesmethodsandtheequipmentrequiredinverypracticaltermstogetherwithsufficientchemicalandmetallurgicalbackgroundinformation.Considerableattentionispaidtosafetyandpollutionmatters,andthereisanextensivelistofreferencesandfurtherreading.(MG)

Thisindustry-wideguide,sponsoredbytheWorldGoldCouncil,listedtheproductsandservicesof50goldrefinersin23countriesaccreditedtotheLBMA,COMEXandTOCOM.Eachrefinery’shistoryanddetailsoftheirgoldbars,withphotographs,iscoveredatlength.Thisisbackedupwitharticlesbytechnicalspecialists,includingDrWilliamRapsonoftheChamberofMinesofSouthAfricaongold-bearingmaterialsandgoldrefiningmethods,DrReginaldMurray-SmithongoldassayingmethodsandProf.DrChristophJ.Raubongoldproductsforelectronicsanddecorativegolds.Althoughmanynewrefineries,especiallyinAsia,havebeenaccreditedsincepublication,itremainsastandardreferenceworkontheactivityofrefiners.Andup-to-dateinformationisprovidedbythewebsite:www.goldbarsworldwide.com.(TG)

ThisisacompanionvolumetoNigelDesebrock’searlierGoldRefinersandBarsWorldwide,publishedin1991andlistedinthisbibliography.Informationandillustrationsincolouronmorethan700barsfrommorethan100refinersandmeltersin28countries,fromgrams,totolabars,kilobarsandgooddeliverybarsareprovided.Thebookisbothaneducationandusefulreferencetoanyoneinthegoldtradeworldwide.Seealsowebsite:www.goldbarsworldwide.com.(TG)

OurknowledgeofthegoldofKingCroesusofLydia,c.550BC,andtherefiningandcoiningatSardisisbuiltondecadesofexcavationsatSardisbyarcheologistsfromHarvardandCornellintandemwiththeDepartmentofScientificResearchattheBritishMuseum.ThisaccountisbyProfessorAndrewRamageofCornellandPaulCraddock,headoftheMetalsSectionattheDepartmentofScientificResearchattheBritishMuseum,whosemostnotablediscoverywasthefirstgoldrefineryfromtheancientworld.Itrevealsanindispensablelookatthetechnicalbreakthroughofseparatingandpurifyinggoldandsilver,withoutwhichdistinctgoldandsilvercoinagecouldnothavebeenintroduced,becausetheabilitytorefineandassaypreciousmetalsiscentraltothewholeconceptofcoinage.Theiraccountoftherefineryexcavationsandhearthsmadeitpossibletoreconstructtheprocess.AlsosetoutinthiscomprehensivereportareascientificexaminationofLydiancoinage


Refining & Bars

57



Refining & Bars

Timothy Green,The London Good Delivery List: Building a Global Brand 1750-2010,withaReviewoftheHistoryofGoodDelivery.AccreditationbyStewartMurray,LBMA,London,2010.ISBN978-0-9566901-0-4

Ronald E. Wilson,Two Hundred Years of Precious Metals: A History of The Sheffield Smelting Company Limited1760-1960,ErnestBennLtd,London,1960.

andthefirstauthoritativehistoryofearlygoldrefiningandassayingtechnologyanditsevolutionaroundtheworldtomoderntimes.Thestoryisillustratednotonlywithphotographsofthefinds,butelectronmicroscopyscansinblackandwhiteandcolourofalluvialgoldgranules,goldfoilsandpotsembeddedwithgoldglobules.(TG)

FortheLondonMarket,theGoodDeliverysystemis,togetherwiththeLondonFixingsandtheClearingSystem,thecornerstoneofthetradingplatformknownastheover-the-counterbullionmarket.TheListconfirmstheequivalenceofalltradeablebars.ThisnewreporttrackstheGoodDeliverysystemforgoldbackto1750,whentheyoungBankofEngland’sBullionOfficewouldacceptonlythebarsofonerefinerpreparatorytothegoldbeingmadeintocoinattheRoyalMint.Thisprivilegelasteduntilafter1850whenthefloodofgoldcomingintoLondonfromtheCaliforniaandAustraliangoldrushesdemandednewaccreditedrefineries.Thelistwasfurtherbroadenedinthe1930stoacceptbarsofselectEuropeanrefineries,asmanycentralbanksandinvestorssoldtheirbarstoprofitfromthenewUScommitmenttobuyallgoldofferedat$35pertroyounce.Inrecentdecades,thechangingpatternofgoldmininghasresultedinmanyforeignrefinersinNorthAmericaandAsiagainingGoodDeliveryacceptanceinLondon.TheAppendixbyStewartMurray,chiefExecutiveoftheLBMA,givesdetailsofthehistoryofbarspecificationsandapplicationprocedures.EssentialguidanceforrefinersseekingtogainGoodDeliverystatus.(LBMA)

SheffieldSmelting,foundedin1760,wasapioneerinpreciousmetalsmeltingandrefininginEnglandforovertwocenturies,butitneverreallysoughttheprestigeofGoodDeliveryGoldstatus(anddidnotgetituntil1949).Itspreferredrolewasbuyingupgoldandsilverscrapandrefiningitintoproductsforthegoldjewelleryandsilverplateindustries,inSheffield,LondonandBirmingham.Nevertheless,itwasalwayshighlyregarded,workingwithotherearlypioneersofgoldrefiningsuchasRobertCoxandtheassayerPercivalNortonJohnson,fatherofJohnsonMatthey.SheffieldSmeltingalsopioneeredbuyingupgoldandsilverwasteinEuropebeforetheFrenchRevolution(aheadofanyLondonrefiner).Thisbook,withdetailedaccountsofannualtransactions,isauniquesnapshotofakeyplayerinthegoldandsilvertradeoverthecenturies.(TG)

58


Books specially recommended by Mark Grimwade, Metallurgical Consultant to Worshipful Company

of Goldsmiths and Professional Member of the Institute of Materials, Minerals and Mining, UK:

Science/Technology


Christopher Corti & Richard Holliday(editors),Gold – Science and Applications,CRCPress(withthesupportoftheWorldGoldCouncil),BocaRaton,USA,2010.ISBN978-1-4200-6523-7

W. S. Rapson & T. Groenewald,Gold Usage,AcademicPressInc.,London,1978.ISBN0-12-581250-7

E. Bell and D. Schneller(editors), Proceedings of the Santa Fe Symposia on Jewelry Manufacturing Technology,Met-ChemResearchInc,Albuquerque,N.M.,USA,Publishedannuallyasseparatevolumes,1987-1991and1995-2010.ISBN978-0-931913-40-2(2010edition)

Geoffrey C. Bond, Catherine Louis, David T. Thompson,Catalysis by Gold,ImperialCollegePress,London,2006,ISBN1-86094-658-5

ThisisanimportantbookthatnotonlyupdatesanearlierbookGold UsagebyRapsonandGroenewald,1978,butalsopresentsmorerecentdevelopmentsinthescienceandapplicationsofgold,notablyincatalysisandnanotechnology.Afteranintroductorychapterthatsetsthescenebydiscussinggoldsupplyanddemand,thereare16furtherchapterswrittenbyleadingexpertsintheirfieldincludingtwofromtheeditorsthemselves.Manyofthechaptersareconcernedwithchemicalaspectssuchasgoldcatalysis,luminescence,surfaceelectrochemistryandbiomedicalapplications.Thedevelopmentofnanotechnologyhasproducedanumberofdiverseapplicationsbecauseoftheuniquephysicalandchemicalpropertiesofgoldatnanoscaledimensions.Achapteronthemetallurgyofgoldleadsontoothersconcernedwithmanufacturingprocessesinmetaljoining,jewelleryproduction,electroplating,bondingwire,dentistry,thickfilmpastesanddecorativegoldmaterials.Eachchapterisanexcellentreviewofitsparticularsubjectandisbackedupwithextensivereferencesforthoserequiringspecificdetailedinformation.(MG)

Whenthisbookwaspublished,itwasconsideredtobethemostcomprehensivepresentationofscientificandtechnicalknowledgeofgoldusageinavarietyofindustries.Inparticular,therearemajorchaptersonthemetallurgyofthecaratgoldalloysandtheiruseinjewelleryproduction,onelectroplatedgolds,andoninstrumentalandengineeringapplications.Demand,supplyanddistributionpatternsarereviewedtogetherwiththeuseofgoldforinvestment.Thereareshorterchaptersondentalgolds,bondingofgoldtoothermaterials,andotherformsofgoldcoatings.Therearemorethan1,300referencesandthisisatestamenttothedepthofknowledgerevealedbytheauthors.(MG)

TheSantaFeSymposia,heldeachMayinAlbuquerque,NewMexicobringtogethertheworldexpertsinthetheoryandpracticeofjewellerymanufacture,includingpresentationsonmetallurgy,newalloysandtechnologiesandjewelleryprocesses.Goldandsilvertopicstendtofeaturestronglyateachsymposium.Theproceedingsarepublishedannually(eachhasadifferentbutrelatedISBNnumber)andcontainwrittenversionsofeachpresentation.Theseriesasawholeisanunrivalledcollectionoftechnicalpapersbytheexpertsfrombothacademiaandindustryonthematerialsandprocessesinvolvedinjewellerymanufacture,aswellasrelatedtopicssuchasassayingandrecycling/refining,andserveasthebenchmarktotheworldindustryonlatestbestpracticeandinnovations.TheearlybooksareeditedbyD.Schneller,andthelateronesbyEBell.Afewyears,1992-4,havenotyetbeenpublishedasproceedings.[www.santafesymposium.org](CC)

Thescienceofgoldcatalysishasundergoneamajormetamorphosisoverthelasttwodecades,startingwithsignificantscientificbreakthroughsin1987madeindependentlybyProfs.G.HutchingsandM.Haruta.Sincethen,thesciencehasgrownenormouslyandmajorcommercial

Science/Technology

Books specially recommended by Chris Corti, COReGOLD Technology Consultancy, London:

5�



C. W. Cortiandothers(editors),GoldTechnology,WorldGoldCouncil,London,1990-2002(3issuesperyear,Nos.1-36).ISBN1364-7415

C. W. Cortiandothers(editors),GoldBulletin,WorldGoldCouncil,London,(publishedquarterly),Volumes1-44(continuing),1967-ongoing.ISBN0017-1557.

C. W. Corti (editor),SeriesofHandbooksandaTechnicalManualonGoldJewelleryManufacture,WorldGoldCouncil,London.

Degussa AG (editors),Edelmetalle Taschenbuch (Precious Metal Pocket Book),HüthigGmbH,Heidelberg,Germany,1995(2ndedition).InGerman.ISBN3-7785-2448-8.

exploitationisunderway.Itisnowunderstoodthatgoldisverycatalyticallyactive,evenatambientandsub-ambienttemperatures.Thisbookisthefirstcomprehensivereviewofprogressinthisimportantfield.Itservesasthereferencebookforcatalystscientistsandindustrialistsconcernedwithuseofgoldcatalystsforapplicationinthechemical,pollutioncontrolandenergysectors.(CC)

ThisgoldjewellerytechnicaljournalwaspublishedinseverallanguagesbesidesEnglishandcontainstechnicalarticlesbyworldexpertsrelatedtogoldjewellerytechnology,includingalloydatasheets,newmaterials,metallurgy,processesandespeciallylostwax/investmentcasting.Thecompletesetofissuesservesasamajorreferencesourceofgoldjewellerytechnologies.[CopiesofarticlesinallbackissuescanbeobtainedfreefromWorldGoldCouncil(www.gold.org)aselectronicfilesinbothEnglish&Italianeditions.](CC)

Thisuniquescientificjournalisfocusedonpublishingthelatestscience,technologyandapplicationsofgold,thelatterfocusedmainlyonindustrialandmedicalapplicationsalthoughjewelleryanddentalalsofeature.Assuch,thearchivecontainsanunrivalledcollectionofscientificpapersandreviewsongoldbyworldexpertsandisthusauniquecollectionofscientificinnovationovertheyears.Nowpublishedelectronically,allpaperscanbeaccessedanddownloadedfreefromthearchiveonitswebsite,www.goldbulletin.org.Since2011,itisnowpublishedfreeelectronicallybySpringeronbehalfofWorldGoldCouncil.(CC)

Thesehandbooksareuniqueinbeingpracticalguidesonthescienceandtechnologiesinvolvedinvariousaspectsofmodernjewellerymanufacture,writtenbyleadingexperts.Thelateronesalsocontainlistsofequipmentandconsumablesuppliers.[ElectronicfilesofeachmaybeobtainedonrequestfromWorldGoldCouncil,London(www.gold.org).]Theseriesincludes:• JCWright,TechnicalManualforGoldJewellery.APractical Guide,1997• PRaw,AssayingandRefining–aGuidefortheGoldJewellery Producer,1997,updated2001•DOtt,HandbookonCastingandOtherDefectsinGoldJewellery Manufacture,1998•VFaccenda,FinishingHandbook,1999•MGrimwade,HandbookonSoldering&OtherJoining Techniques,2002•VFaccenda,HandbookonInvestmentCasting,2003(CC)

WrittenandpublishedbyleadingexpertsinDegussaAG,thishandbookcoversthewholegamutofthescienceandapplicationtechnologyofgold,silverandtheotherpreciousmetals.Itcontainsnumericaldataonthebasicpropertiesandcharacteristicsofgoldandsilverandtheiralloys–atomic,physical,chemical,mechanical,etc.–thatisnotfoundanywhereelseinonevolume.Itis,thus,auniquereferencebook.Itcontainschaptersonhistory,primaryextractionandrecyclingofscraps,refining,puritiesandcommercialproducts,marketeconomics,properties,powders,chemicalcompounds,processing(mechanical,compositelayers,coatings,includingelectroplating,thickfilmpastes,etc)andapplicationtechnologies,includingglassprocessing,catalysis,electrochemistry,electricalandelectronic,sensors,jewellery,coinsand

Science/Technology

60



Mark Grimwade,Introduction to Precious Metals,BrynmorgenPress,Brunswick,Maine,USA,2009,ISBN978-1-929565-30-6

K. OkamotoandT. B. Massalski(editors),PhaseDiagramsofBinaryGoldAlloys,ASMInternational,USA,1987.ISBN0-87170-249-5

A. Prince, G. V. Raynor,&D. S. Evans(editors), Phase Diagrams of Ternary Gold Alloys,TheInstituteofMetals,London,1990.ISBN0-9043567-50-3.

E. M. Savitskii,(EnglisheditioneditedbyAPrince),Handbook of the Precious Metals,1989,HemispherePublishingCorp.,WashingtonDC,NewYork,USA.ISBN0-89116-709-9.

H. Schmidbaur(editor),Gold: Progress in Chemistry, Biochemistry and Technology,JohnWiley&Sons,Chichester,UK,1999.ISBN0-471-97369-6

silverware,dental,medical,photography,andbrazing&soldering.Therearealsochaptersonchemicalanalysisandtesting(mechanical,corrosionandmetallography)andhealthandsafety.(CC)

ThisisthesecondeditionofGrimwade’sbook,updatedandextendedfromthefirsteditionpublishedover20yearsago.Thisisthebookonthebasicmetallurgy,propertiesandapplicationwrittenespeciallyforthenon-metallurgist,particularlyforthecraftsmeninthejewelleryindustry.Itisveryreadableandcoversallthenon-expertwillwanttoknow.Thecomplexmetallurgyofgold,silverandotherpreciousmetalalloysarepresentedinawaythatgoldsmithscaneasilycomprehend.Thebookcomprises17chapters,coveringbasicproperties,theoccurrence,extractionandrefiningofthemetals,anunderstandingofalloyingbehaviour,specificchaptersongold,silverandtheotherpreciousmetals,andfollowedbypracticalchaptersonmelting,castingandprocessing,includingelectroplating,powdermetallurgy,surfacedecorationandassayingandhallmarking.(CC)

Asitstitleimplies,thisisabasicreferencebookformetallurgistscontainingallofthesignificantphasediagramsofbinarygoldalloysystems,criticallyreviewedbytheexperts.Itservesasabasicreferencebookinunderstandingtheconstitutionofbinarygoldalloys.Itscontentsareapplicabletothemajorindustrialandjewellerysectors,includingdental,electronics,decorative,brazingandsoldering.(CC)

Alsoabasicreferencebookofallsignificantphasediagramsofternarygoldalloys,criticallyreviewedbytheexperts.Itservesasanimportantreferencesourceinunderstandingtheconstitutionofternarygoldalloys,manyofwhichhaverelevancetotheindustrialandjewelleryapplicationsofgold.(CC)

ThisEnglishtranslationofaRussianbookgivesaccesstomuchscientificinformationonthescienceandapplicationsofgoldandsilver(aswellastheotherpreciousmetals)inRussia.Itcoversjewelleryandindustrialapplicationtechnologies.Therearechaptersonprincipaloresandminerals,extractionandmanufactureofsemi-finishedproducts,propertiesofliquidmetalsandalloys,propertiesofsolidmetalsandalloys,phasediagramsandapplicationsinthejewellery,dentalandindustrialsectors.AppendicesincludeRussianstandardsforpreciousmetalsandalloys,andelectrolytesandetchingsolutionsformetallography.(CC)

Thisbookisbasedonthepresentationsgivenatthefirstgoldconference,heldinHanau,Germanyin1996.With21chapterswrittenbyleadingexperts,itcoversallsectorsofgoldscience(withtwonotableexceptions–catalysis&nanotechnology,whichhadnotyetbeenrecognisedasmainstreamgoldthemes)withheavyemphasisongoldchemistry.Presentedinthreeparts,thefirstcoversthehistoryandprogressingoldtechnologywithchaptersoncoinage,economics&geology,extractionfromores,jewelleryalloys,refiningandrecycling,decorationofglassandceramics,dentistry,electricalengineeringandelectronics,andthinfilmtechnology.Part2comprisesonechapterongoldbiochemistryandPart3comprises11chaptersonchemistry.Thisbookservesasaclassicreferencebookonthestateofgoldsciencein1996.Theconferenceitselfprobablykick-startedtheresurgenceof

Science/Technology

61



Kirk-Othmer Encyclopaedia of Chemical Technology,27-volumeset,5thedition,JohnWiley,2007.ISBN978-0-471-4849-3Onlineversion:ISBN9780471238966

interestingoldresearchfromwhichcatalysisandnanotechnologyhaveemergedasleadingfields.(CC)

Thesilversectionofthisimmenseworkof22,950pagescoversabroadspectrumofapplicationsofsilverandsilveralloys,madepossiblebysilver’soutstandingpropertiesthatareessentialtomostadvancedtechnologies.Forsilver,itssingleelectronprovidesthebestconductorofelectricity,thehighestelectricaltransmittance,highestlightreflectivityandthesecond-highestinfraredreflectivity.Andinthelastdecade,analyticaltechniqueshavebecomeavailabletoresolvethemysteryofthecatalyticactionofsilver.(SE)

Science/Technology

Book specially recommended by Sam Etris, Technical Consultant, The Silver Institute:

6�


Silver General

Silver General


Philippa Merriman,Silver,TheBritishMuseumPress,2009.ISBN978-0-7141-1815-14

UsefulintroductiontosilverwrittenbyPhilippaMerriman,aprofessionalsilversmithanddirectorofMerrimanSilverLtd.Shesetsoutits6,000-yearhistoryinancientculturesasdiverseastheVikingsandtheBedouinsofNorthAfrica(whoaccordedspecialstatustosilversmiths)anditsgreatlegacyinsilverplateforritualsandadornmentintheMiddleAges.Asaworkingsilversmith,shedescribeshoweasyitistoworkandevenpolishtoamirrorfinish,whileithasmyriadapplicationsinmoderntechnologyandevenmedicine.Silversmiths’techniquesaresetout,alongwithsectionsonassaying,hallmarkingandthesilversmith’stools.Thisisbackedupby120illustrationsfromtheBritishMuseumandacomprehensivebibliographyofmorethan60booksoneveryaspectfromassayingtometalstechnology.Apracticalguideinstartingtounderstandsilverancientandmodern.(TG)

6�


Silver India

Silver India


S. L. N. Simha&Janaki G. Krishnan,TheSagaofSilver,InstituteforFinancialManagementandResearch,Madras,India,1980.

S.L.N.Simhaspent35yearsintheResearchDepartmentoftheReserveBankofIndia,specialisingintheregulationofgoldandsilvertradingonthesubcontinentbeforewritingthiscomprehensiveaccountofIndia’sloveaffairwithsilver.Ashesays:“Idonotknowofmanyotherpublications…thatgivesomuchfactualdataonsilveroversolongaperiod.”Hebeginswithahistoryofsilverinancientcoinage,bimetallismandthegold-silverratioinEurope,AmericaandIndiafromthe18thcentury.Thenheexplainsthedeclineinthesilverpricefrom1850andthecommissionslookingatitsfuture,notingIndiaandChinaremainingfirmfriendsofthemetal.Therevivalofsilver’sfortunesafterWorldWarIIandIndia’sownmarketandconsumptionarereported.Over3tablesofstatisticsonproduction,pricesinmajormarkets,India’simportsandworldconsumptionmakethisbookabasicsource.(TG)

lbma bibliography of books on gold and · pdf filelbma bibliography of books on gold and...

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