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Barter
Bartering is a system of trade, goods or services exchanged for other goods or services, without the use of money. -
Period: to
History of currency
History of currency -
Medium of goods used as means of exchange
items like animal skins, salt and weapons developed over the centuries were used as a means of echange. -
Bronze goods
Early Asain culture used bronze versions of goods in form of little circles, this became the first form of coins. -
first offcial currency
around 600 b.c the first currency made from electrum, a mixture of silver and gold stamped with pictures of animals. -
Chinese handle on money
by 1,200 a.d the chinese had a good handle on money. Instead of the print "in god we trust" on the american currency they warned "all counterfiters will be decapitated" -
1,600 bank notes
during the 1,600 banks issued bank notes for people instead of all the coins. -
first goverment issued currency
The first paper currency issued by European governments was issued by colonial governments in North America. -
The shift to paper money
The shift to paper money in Europe increased the amount of international trade that could occur. Banks and the ruling classes started buying currencies from other nations and created the first currency market. -
Problems in switching to paper money
The stability of a particular monarchy or government affected the value of the country's currency and the ability for that country to trade on an increasingly international market.The competition between countries often led to currency wars, where competing countries would try to affect the value of the competitor's currency by driving it up and making the enemy's goods too expensive, by driving it down and reducing the enemys buying power or by eliminating the currency. -
current currency
We currently mostly use paper money as a form of currency worldwide. With some virtual currency in the process of becoming worldwide. -
The future
In the future I think most of the worldwide currency will be electronic and virtual, for maximum efficiency.
