The History Of Money

The History of The History of MoneyMoney

First there was BarterFirst there was Barter

From 9,000-6,000 B.C., livestock was From 9,000-6,000 B.C., livestock was often used as a unit of exchange.often used as a unit of exchange.

ShellsShells

At about 1200 B.C. in China shells At about 1200 B.C. in China shells became the first medium of exchange, became the first medium of exchange, or moneyor money

Metal moneyMetal money

China, in 1,000 B.C., produced mock cowry China, in 1,000 B.C., produced mock cowry shells at the end of the Stone Age.shells at the end of the Stone Age.

Ancient Chinese coins Ancient Chinese coins had holes in the middle so had holes in the middle so that they could be carried that they could be carried on strings, making it easier on strings, making it easier to control large sums to control large sums of moneyof money

Silver coinsSilver coins

about 500 B.C., pieces of silver were about 500 B.C., pieces of silver were the earliest coins.the earliest coins.

These coins were These coins were

first shown in Lydia first shown in Lydia

or Turkeyor Turkey

Leather CurrencyLeather Currency

In 118 B.C., banknotes in the form of In 118 B.C., banknotes in the form of leather money were used in China.leather money were used in China.

Notes and Paper currencyNotes and Paper currency

99thth Century to 15 Century to 15thth century Chinese century Chinese developed first paper moneydeveloped first paper money

Excessive printing caused massive Excessive printing caused massive inflationinflation

Gold StandardGold Standard

In 1816, England made gold a In 1816, England made gold a benchmark of value.benchmark of value.

Prevented inflationPrevented inflation

The USA adopted the The USA adopted the

gold standard in 1900gold standard in 1900

Hyper InflationHyper Inflation

In 1923 Germany experienced massive In 1923 Germany experienced massive inflation by printing excessive money to inflation by printing excessive money to pay it’s WWI debtpay it’s WWI debt

Inflation reached Inflation reached

270% per week270% per week

DepressionDepression

In 1930 America began a world wide In 1930 America began a world wide trend to end the Gold standardtrend to end the Gold standard

Plastic MoneyPlastic Money

In 1988 Australia invented the worlds first In 1988 Australia invented the worlds first plastic note that lasts four time longer plastic note that lasts four time longer than paper and is also fully recyclablethan paper and is also fully recyclable

FutureFuture

Digital cash and EFT Digital cash and EFT

will one day replace will one day replace

currencycurrency