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Ancient Egyptians were making metal rings which they used as money.
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In this year, Canadian colonies began to use paper money too and this inovation led to a huge increasen in international trade.
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Europeans were using more metal coins, made with metal taken from their colonies. The use pf precius metals in coins meant that the money could be traded because it held a value. Now coins and notes are only a symbolic rpresentation os these precious metals and can no longer be exchanged for them.
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By 1100 BC they rather than exchanging objects like tools and weapons, a system of using miniature replicas of the objects to be traded were used intead of the obects themselves.
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In Lydia (now Westerns Turkey) were made the first coins. They were made of discs of electrum which is a natural mix of silver and gold, and stamped with pictures to show their value.
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Around the same time (700 and 600BC) in China they created the first paper money.
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"bit" was a English term for a small coin and was still used until very recently. For example, the threepenny was only scrapped in 1971. In the Engish colonies of the West Indies half a real was four bits and a quarter was two bits.