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The History of Money Timeline
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The History of Money Timeline
Coria Stewart & Shana Chase
Banks
Paper Money
The Issuing Of Paper Money
Cowrie Shells
The first bank in the United States was the Bank of Pennsylvania, which was founded in 1780.
The first issue of paper money by the US government since the Continentals were "demand notes" or "greenbacks".
Paper currency was first used in China in the 7th century.
Cowrie shells became the first standardized medium of exchange.
1861 AD
1780 AD
1690 AD
700 BCE
700 AD
1200 BCE
1792 AD
Coinage Act
American Paper Money
Coins
The first use of coins date back to 700 BCE by the Lydians, a group of people who lived in what is now Turkey.
In 1690, the Colony of Massachusetts issued the first government authorized paper money in the New World.
The silver dollar was adopted as the standard US monetary unit. The coinage act created the first national mint in Philadelphia, Pennsylvania.
We believe currency will continue to advance and we soon won't be using paper money. It'll all be electronic.