LBMA Bibliography of Books on GOLD and · PDF fileLBMA Bibliography of Books on GOLD and...
Transcript of 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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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
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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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Books specially recommended by Michael Allchin, Chief Executive & Assay Master,
The Assay Office, Birmingham & Dippal Manchanda, Chief Assayer, Birmingham Assay Office:
Assaying & Hallmarking
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:
Assaying & Hallmarking
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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)
Assaying & Hallmarking
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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)
Assaying & Hallmarking
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Book specially recommended by Neil Courtis, former Executive Editor, Central Banking Publications:
Bank of England and Central Banks
Author, Book Details Review
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)
Bank of England and Central Banks
Book specially recommended by Professor Barry Eichengreen, University of California:
Other recommendations by Timothy Green:
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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)
Bank of England and Central Banks
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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)
Bank of England and Central Banks
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Books specially recommended by Dr Kevin Clancy, Director, Royal Mint Museum, Llantrisant:
Coins/Mints
Author, Book Details Review
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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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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:
Other recommendations by Timothy Green:
Coins/Mints
1�
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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�
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
thenewUnitedStateswasfirmlybimetallic,withamainlysilvercurrencyuntiltheCaliforniaGoldRushof1848.AsTaxaytitledhischapter,‘TheGoldInterestTakesCharge’.TheDoubleEagleat$20wasintroducedin1849.Goldwasnowintheascendant,until‘TheSilverCrusade’tomaintainbimetallisminthe1870s.Thatbattle,theheartofthebook,lasteduntilthePresidentialElectionof1896,withtheUSfinallyadoptingthesinglegoldstandardin1900.Itwasashortepisode,WorldWarIandtheDepressionunderminedit,andtheUSMintminteditslastgoldlegaltendercoinsin1933,consignedtolessglamorouscoinsthereafter.(TG)
Coins/Mints
16
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Book specially recommended by Frederic Panizzutti, Senior Vice President, Global Head of Sales
& Marketing, MKS Finance SA, Geneva:
Gold General
Author, Book Details Review
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)
Other recommendations by Timothy Green:
Gold General
17
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Book specially recommended by Frederic Panizzutti, Senior Vice President, Global Head of Sales
& Marketing, MKS Finance SA, Geneva
Gold Investment
Author, Book Details Review
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)
Other recommendations by Timothy Green:
Gold Investment
1�
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Gold & Silver Jewellery/Art & Design
Author, book details Review
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
Gold & Silver Jewellery/Art & Design
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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)
Gold & Silver Jewellery/Art & Design
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
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
Author, Book Details Review
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)
Other recommendations by Timothy Green:
Gold & Silver Jewellery/Technology
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Gold Standard and Monetary Gold
Author, Book Details Review
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)
Gold Standard and Monetary Gold
Books specially recommended by Shayne McGuire, Head of Global Research, GBI Gold Fund, Texas:
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
Gold Standard and Monetary Gold
Other recommendations by Timothy Green:
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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)
Gold Standard and Monetary Gold
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
Gold Standard and Monetary Gold
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
Gold Standard and Monetary Gold
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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)
Gold Standard and Monetary Gold
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Gold & Silver Watches
Author, book details Review
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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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
History/Bimetallism
Author, book details Review
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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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
History/Gold Rushes
Author, book details Review
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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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
History/Mining/Gold & Silver
Author, book details Review
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)
History/Mining/Gold & Silver
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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)
History/Mining/Gold & Silver
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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)
History/Mining/Gold & Silver
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
History/Parliamentary Reports
History/Parliamentary Reports
Author, book details Review
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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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
ConsulsinLondonofmanycountries(eventheRussianConsul-Generalobligedhimwithfigures).StewartPixleyhadtohandstatisticsondemandforsmallgoldbarsinIndianbazaarsandevenbroughtalongaten-ouncebarof998gold,whichwasthefavourite.ArthurBalfourquestionedhimcloselyonIndianhoarding.Inthecontextoftoday’sannualgoldsurveys,thiscouldbecalledGold1888.Whileonthebimetallismissue,theCommissioninclinedtoasinglegoldstandard,notsurprisinggiventhattheBritishEmpirehadgoldfromAustralia,Canadaand(just)SouthAfrica.(TG)
History/Parliamentary Reports
40
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
History/Silverware & Plate
Author, book details Review
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)
History/Silverware & Plate
41
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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)
History/Silverware & Plate
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
History/Treasures
Author, book details Review
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
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LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Markets/Trading
Author, book details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Mining/Modern
Author, Book Details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
Other recommendations by Timothy Green:
4�
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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�
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Book specially recommended by Frederic Panizzutti, Senior Vice President, Global Head of Sales
& Marketing, MKS Finance SA, Geneva
Precious Metal Money
Author, Book Details Review
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)
Precious Metal Money
Book specially recommended by Sam Etris, Technical Consultant, The Silver Institute
Other recommendations by Timothy Green:
5�
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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,
Precious Metal Money
54
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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)
Precious Metal Money
55
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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)
Precious Metal Money
56
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
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
Author, Book Details Review
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
Other recommendations by Timothy Green:
Refining & Bars
57
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
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
Author, Book Details Review
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�
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Author, Book Details Review
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�
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Silver General
Silver General
Author, book details Review
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�
LBMA Bibliography of Books on GOLD and SILVER compiled and edited by Timothy Green
Silver India
Silver India
Author, book details Review
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)