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As early as 9000 BCE both grain and cattle were used as money.
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Banking originated in Babylonia (present day Iraq) with initial deposits of grain, then cattle, agricultural implements, and precious metals. During this time, there was a cultural belief that temples were a place of absolute refuge. Due to this belief, gold was placed in temples for safekeeping, leaving priests as acting ‘bankers’ as they became the gatekeepers for gold and issuing loans when necessary.
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The State of Cappadocia (present day Turkey) guarantees the quality of silver ingots, increasing their acceptance as money.
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King Alyattes of Lydia (present day Turkey) is the first to mint coins. Lydians are also the first people to open retail shops.
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Lydians begin producing separate gold and silver coins.
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In Rome, cackling geese alert authorities against those intent on stealing the city's money reserves.
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Aristotle contemplated on the nature of money. He considered that every object has two uses, the first being the original purpose for which the object was designed, and the second possibility is to conceive of the object as an item to sell or barter.
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Leather money made from white deerskin, measuring about one foot square, is issued in China. Many people believe this to be the earliest form of a banknote.
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Caesar Augustus reforms Roman monetary system by issuing gold, silver, brass, and copper coins.
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Paper money is invented in China.
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Europe learns about paper money from Marco Polo’s travels in the Far East, including China.
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Leonardo da Vinci’s drawings are used to create a press for producing coins using a water-driven mill
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Europe’s first bank notes issued in Sweden.
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United States issues its first coins under the Coinage Act
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Western Union marks the beginning of electronic money with the electronic fund transfer (EFT).
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The Bank of Canada is established.
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The era of credit cards begins with the Diners Club card
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The first Automated Banking Machine is introduced in England.
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New technologies include electronic cheques and embedded smart cards.
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European banks begin offering mobile banking through primitive smart phones.
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The circulation of Euro banknotes and coins begins.
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Canada stops minting the penny for circulation.
