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The History of Money
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The History of Money
Bibliography
https://prezi.com/prdy6gao2hb4/history-of-money-timeline/
http://www.telegraph.co.uk/finance/businessclub/money/11174013/The-history-of-money-from-barter-to-bitcoin.html
https://www.thoughtco.com/history-of-money-1992150
Paper Money
Paper money, not too far off as we know it today, began being used in China in the 9th century - 15th century. However, Europeans wouldn't begin using paper money for another several years after this.
9000 - 6000 BC
1000 - 500 BC
From about 9000 - 6000 BC, instead of using money like we do today with notes and coins, there was only something called barter, which is the exchange of goods or services without money, for example exchanging an apple for an orange. However, this arrangement would not always be practical, as you would have to make sure what you are swapping is of equal value and you would have to find someone who is willing to swap their good or service for yours. This system of barter continued for the next thousand years.
In China in about 1000 BC, the first metal money came into play when tools made of metal were used as a form of money.
Then in 500 BC, pieces of silver were used. These were the earliest coins. The pieces of silver were eventually imprinted with gods and emperors to show their value.
1816
In 1816, England began using gold as a form money. The U.S. also began using the gold standard in 1900. Gold standard is a system where a country's currency has value linked directly to gold.
1200 BC
Money Today
118 BC
In 118 BC, the first paper money came to be when squared pieces of white deer skin were exchanged for goods and services.
This is an example of ancient leather money:
Money today is found in various forms; paper money, coins, online and in cheques. We have come a long way, from barter to banking.
In China in about 1200 BC, instead of the use of barter, a new system of using cowrie shells for exchanging goods and services began being used.