Gold has traditionally been a sign of rank and its use and possession was often restricted. In Sumerian tombs, only royalty was buried with gold decorations. Initially in Egypt, the pharaoh and the gods owned all the gold, but the pharaohs distributed gold pins in different forms to the brave officials. During the Bronze Age in Western Europe, gold was used to bolster the emerging institution of chiefdom.

In early Roman times, there were strict laws governing who could wear gold rings and even high-ranking families could only own limited amounts of gold. In the early Christian era, gold was used for relics in the Church, but people were discouraged from using it. However, these rules were not without exception. Clement of Alexandria in the late 2nd century AD. C. explains: “Sometimes concessions must be made in favor of those women who have not been lucky enough to fall in love with chaste husbands and who adorn themselves to please their husbands.”

From the fourteenth century, sumptuary laws restricted the use of gold jewelry in Europe to the wealthiest or noblest sectors of society. Furthermore, from the Middle Ages to the 18th century, gifts of gold chains traditionally rewarded loyal service to royal courts.

The Inca associated gold with the solar deity Inti and the imperial ruler controlled the supply. It was not allowed in widespread trade and commerce. The ruler himself distributed it as a badge to noblemen who distinguished themselves in battle or service. Wives wore gold earmuffs to distinguish rank. From 1700 to 1900, the Asante controlled vast gold resources in Africa and used gold dust as currency, but gold jewelry was restricted to the King, chiefs, and high officials. There was a time when the Asante king required all gold ornaments to be melted down and recast each year. He then collected a tax on new items.