When was the money first used?
Who invented money?
It goes without saying that we pay for things that we want with money: we buy them. Of course, that wasn't always the case. If we look back a long way, for example back to the Stone Age, there was no money - and certainly no credit cards or banks. But who actually invented money?
Back in the Stone Age, people shared what they hunted or gathered. There was no way to buy or trade anything.
Barter only came about when people settled down, when they started building settlements and tilling fields. Then it happened that they had some things in abundance, i.e. more than they could eat themselves. You could swap that for something you didn't have: for example a warm fur or a tool. Goods were exchanged around the world in a similar way.
However, swapping became difficult when the goods were not suitable. Some things were difficult to store or transport. Or a product was offered that was not of interest to the other person. Then there was no exchange.
So a medium of exchange had to be found that was long-lasting, transportable, forgery-proof and not available in too large quantities. All of this applied to the sturdy shells of the cowrie shells. It was used as a means of payment in parts of East Asia, North Africa and the South Pacific from 2000 BC until the 19th century. For this purpose they were strung on strings. In other parts of the world pearls, shells or precious stones were used as a medium of exchange.
Metals such as copper, silver and gold also played a special role in bartering. Gold and silver were found in Mesopotamia and Egypt as early as the 4th millennium BC - and it was soon used as a means of payment. The metal money was poured into rings, sticks or bars. They could be crushed and weighed according to their value. These precious metals later established themselves as a means of payment worldwide.
The first coins ...
... were finally minted in 650 BC in the Kingdom of Lydia, on the territory of today's Turkey.
From there they spread over the entire Mediterranean area. And the Greeks and Romans also adopted the coin system. The advantage of the coins was their fixed weight. They no longer had to be weighed but could be counted.
In the 16th and 17th centuries, banks began to take coins into custody. For this they issued receipts called banknotes or slips of paper. Paper money had an advantage: it wasn't as heavy as coins. You could have great money value with you without having to carry a lot of heavy coins.
Most financial transactions today are cashless. The money is simply booked from account to account. Ah!
- Would a Muslim go out with a non-Muslim
- How old do giant tortoises get
- How can I sell 786 banknotes these days
- What is 10 10 10 15
- What are some easy to learn social skills
- What was your happiest moment with someone
- What snake is found in Yangon Myanmar
- What is the postcode of India
- How do you say in Tagalog
- Is THAILAND a good country to settle in
- Is economics a good major
- What does it mean to you to be brave
- How successful were kamikaze pilots during World War II
- What caliber can kill a whale
- What is Affiliate Marketing Can it Help
- What does a great poem look like
- What can an administrator do on Discord
- What is a funnel in e-commerce
- What percentage of marriages end in divorce?
- Is space something physical?
- What's the best way to get backlinks
- Has anyone used the Sedona Method?
- Could birds fly on Mars
- What does the symbol 43