'gold-bug' originates from American English, formed from 'gold' + 'bug' (where 'bug' came to mean 'an enthusiast' or 'fanatic'). The compound was in use in the mid-19th century and was popularized in part by Edgar Allan Poe's 1843 story titled 'The Gold-Bug.'

'gold-bug' first appeared in the 19th century; Poe's 'The Gold-Bug' (1843) used the insect sense and popularized the phrase. Later in the late 19th century the term shifted in political and economic discourse to label supporters of the gold standard (sometimes written as 'goldbug').

Initially associated with a golden beetle in literature, and more generally with a fascination for gold, it evolved into a political/economic label for advocates of the gold standard and, colloquially, to mean anyone obsessed with gold or wealth.