The History of Money

  • Ancient Egypt
    2500 BCE

    Ancient Egypt

    Egyptians started making metal rings that could had been used as coins.
  • China
    1100 BCE

    China

    China started using miniature replicas of the objects they were about to exchange
  • Lydia (western Turkey)
    600 BCE

    Lydia (western Turkey)

    The first actual coins were made in Lydia (western Turkey). They were made of discs of electrum, which is a mixture of silver and gold. The first known gold coin was minted by the Lydian king Croesus.
  • China
    600 BCE

    China

    First money paper started being used in China
  • Europe

    Europe

    Europeans kept on growing their usage of coins made of metal. The use of precious metals taken from colonies (such as gold and silver) meant that the money held a trust-worthy value.
  • Canada

    Canada

    Canadians started using paper money, and this innovation led to a enormous increase in international trade.
  • Spain

    Spain

    Spanish eight-real started being used, and could be cut into eight bits, which meant that you could pay for things and have the bits as change. This method of paying has been legal until very recently. For example, the threepenny got scrapped only in 1971
  • Money today

    Money today

    Nowadays, physical money is no longer linked to precious metals, which means that people have to be with regards to the value of the money. We also use credit and debit cards, which are used instead of physical money for buying products.