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Giving the Gift of Silver and Gold: Traditions Around the World

Published by Tavex Analysts in category Tavex News on 25.01.2023
Gold price (XAU-GBP)
1,901.20 GBP/oz
  
+ GBP25.44
Silver price (XAG-GBP)
24.79 GBP/oz
  
+ GBP1.45

Giving gold and silver as a gift is an old tradition which is not only about money or worth. Cultural backgrounds for giving precious metals are different, from prestige and inheritance to representing love and prosperity. Due to the deep influence of gold and silver on today’s society, these metals still play an essential role in customs and traditions around the world. In this article, we will talk about some of the most popular traditions of gifting gold and silver around the world. 

Gold and silver gifts for wedding 

There are two of the most popular wedding-related traditions in Great Britain. One of them comes from a traditional rhyme – “Something old, something new, something borrowed, something blue, and a silver sixpence in her shoe”. Traditionally the bride’s father put a sixpence in the bride’s shoe. It symbolized a wish for luck, wealth, and happiness for the new couple. In Wales, a silver coin is set into a champagne cork and after the ceremony, the couple receives the coin as a souvenir.  

“Something old, something new, something borrowed, something blue, and a silver sixpence in her shoe”

At Indian weddings, gold is usually given to the bride. It has its own historical reasons. Women were not allowed access to many assets or to have land or any kind of business ownership. Therefore, the only form of wealth for them was holding onto gold jewellery. In such a way, gold was a form of safety and insurance for women functioning as a public display of wealth. 

Birthday gift  

The tradition of giving gold and silver as a birthday gift is quite common in many cultures. Around the world, new babies are greeted with a gift of gold or silver, a symbol of prosperity, beauty, and long life. For instance, in the UK the crossing of a baby’s palm with silver is a quite popular tradition, which is seen as a way to wish them health and wealth throughout their life. The coin is placed in the baby’s hand and if he/she threw it down or let it go, the baby will become a frivolous spender. If he/she held on to it, the baby will be a reasonable spender and financially stable. 

Physical gold is among the most common gifts in South Korea, Japan, and China. One of the Korean actors shared in a New York Times interview that he received about twenty 24-carat gold rings from his parents on one of his birthdays. In Japan and China, usually grandparents shower their grandchildren with gifts of gold and silver on the baby’s first month or 100th day.  

Other traditions around the world 

In Turkey, the most common place where gold and silver are given is at a wedding as well as in other countries. However, another common situation is leaving or returning from the call of duty. Often, gold or silver is given to signify their sacrifice.  

In the Middle East, rather often gold can be an inappropriate gift. That is due to some important rules. Muslim men must not wear any gold in this region. Furthermore, it is considered intimate and inappropriate to give any gifts to women outside of one’s family.  

As we can see traditions of gold and silver gifting are long-lasting and timeless in many cultures. It is seen as a way to bestow good fortune on family and loved ones. These customs show that gold and silver are not only good investments but also treasured gifts for your family and friends to show your love and respect. Therefore if you are looking for valuable and special presents for your loved ones, gold and silver in the form of bullion, coins and bars can be the perfect choice for you. 

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Gold price (XAU-GBP)
1,901.20 GBP/oz
  
+ GBP25.44
Silver price (XAG-GBP)
24.79 GBP/oz
  
+ GBP1.45

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