When did the first money appear? Detailed answer

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When did the first money appear? Detailed answer

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When did the first money appear?

For a long time, a person did without money. He used a system we call barter deals. If someone needed something that he did not do himself, he would find another person who had the necessary goods, and offer him something in return. The first varieties of "money" used by primitive man were usually items that could be worn or eaten. The American Indians used carved shells for this purpose, which were called wampum.

Other varieties of "money" were tobacco, grain, hides, salt and beans. Ultimately, pieces of metal supplanted all other types of money. The first to use money in the form of metal pieces were the Lydians, a people who lived in Asia Minor. In the XNUMXth century BC, they began to make metal money, which was the same in weight and appearance and was easily recognizable.

Gold and silver had long been used as money, but not in the form of coins. They circulated in the form of ingots, from which pieces were chopped off and weighed, but there were no guarantees in the purity of these metals and in their weight. It was the Lydians who first thought of putting some kind of image on the coins as a guarantee.

Other peoples adopted this idea, and gradually the use of coins became ubiquitous. Later, someone came up with the idea that a promise to pay money, if you can trust the one who promises, can play the same role as money. Therefore, jewelers, merchants and moneylenders began to make written obligations that promised to pay money on demand. Because this "paper currency" was paper, it was easier and safer to work with than gold.

Soon, first banks and then governments began issuing these paper promises. This is how paper money came about.

Author: Likum A.

Random interesting fact from the Great Encyclopedia:

Which country is called Krievia or Venemaa?

The name of Russia does not in all languages come from the root "ros-" or "rus-". For example, in Latvia it is called Krievia from the tribal union of the Krivichi, who neighbored the ancient Latvians in the east. Another ancient tribe - the Wends - gave the name to Russia in Estonian (Venemaa) and Finnish (Venyaja) languages. The Chinese call our country Elos and can shorten it to just E, and the Vietnamese read the same hieroglyph as Nga, and call Russia that way.

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