History of money
From The Art and Popular Culture Encyclopedia
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The history of money concerns the development of means of carrying out transactions involving a medium of exchange. Money is any clearly identifiable object of value that is generally accepted as payment for goods and services and repayment of debts within a market or which is legal tender within a country.
Many things have been used as medium of exchange in markets including, for example, livestock and sacks of cereal grain (from which the Shekel is derived) – things directly useful in themselves, but also sometimes merely attractive items such as cowry shells or beads were exchanged for more useful commodities. Precious metals, from which early coins were made, fall into both categories.
In modern times the broader concept of "money" includes other forms of money such as bank accounts. The history of money also includes items such as credit cards.
Numismatics is the study of physical money such as coins and paper money.
See also
- Central bank
- History of banking
- History of coins
- History of the rupee
- History of the United States dollar
- Manillas
- Trade beads
- Axe-monies
