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History of Currency

By 790jordan
  • 9000 BCE

    Livestock Use As Currency

    Livestock Use As Currency
    Livestock such as cattle, sheep, and camels could be used for determining worth for how useful and multi-versed each animal is.
  • 1200 BCE

    Cowrie Shells

    Cowrie Shells
    The use of the shells of a mollusc that was prevalent within the waters of the Pacific and Indian Ocean were used within Asia. This currency became the longest and most widely used currency of all mankind.
  • 650 BCE

    The First Mint Coin

    The First Mint Coin
    Ephesus of Ionia uses the first recorded coins using a metal called electrum.
  • 600 BCE

    New Chinese Method of Making Coins

    New Chinese Method of Making Coins
    The Zhou Dynasty created a new way to make coins by puring molten bronze into moulds.
  • 550 BCE

    First Coins of Silver and Gold BC

    First Coins of Silver and Gold BC
    King Croesus of Lydia creates the first coins made out of silver and gold.
  • 500 BCE

    Roman Empire's Use of Unworked Lumps of Bronze

    Roman Empire's Use of Unworked Lumps of Bronze
    Rome's take on currency was for straight, unfinshed bronze to use and used sheep and cattle to determine its worth.
  • 300 BCE

    Creation of the Idea of Modern Banking

    Creation of the Idea of Modern Banking
    The Greek Empire sophisticates their banking system by having private entrepreneurs, temples, and public bodies taking part in financial transactions. Depositing, making loans, and currency exchanges start to become prevelant.
  • 200 BCE

    Shi Huangdi Proposes Round Coin To East Asia

    Shi Huangdi Proposes Round Coin To East Asia
    Shi Huangdi introduces the round coin with hole in the middle to East Asia, this style of coins becomes a staple for the next two milennia.
  • 118 BCE

    First Documented Type of Banknote

    First Documented Type of Banknote
    These leather coins used in China became the first documented type of banknote.
  • Jan 1, 800

    Noses for Debt Repayments

    Noses for Debt Repayments
    Danes in Ireland would remove the noses of individuals who refused to pay a poll tax.
  • Jan 1, 806

    Introduction of Paper Currency

    Introduction of Paper Currency
    China becomes the first civilization to use a paper currency. However, this new way became faulty because rapid production led to massive inflation.
  • Jan 1, 1500

    The Potlach

    The Potlach
    Form of Native American value exchange based on extravagant gifts along with dances, feasts, celebrations, and other public rituals.
  • Jan 1, 1535

    Wampums

    Wampums
    Strings of beads made from clam shells were used between tribes as gifts and is considered a form of currency.

  • Gold Standard Introduced to England

    Gold Standard Introduced to England
    Gold becomes the standard of value in England.

  • End of the Gold Standard

    End of the Gold Standard
    The Great Depression of the 1930s affected the entire world economy. This worldwide depression led to the value of gold being devalued and being revised. After this event, international monetary regulation is introduced which leads to the formation of modern day currencies across the world.