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2500 BCE
Ancient Egypt
Egyptians started making metal rings that could had been used as coins. -
1100 BCE
China
China started using miniature replicas of the objects they were about to exchange -
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. -
600 BCE
China
First money paper started being used in China -
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
Canadians started using paper money, and this innovation led to a enormous increase in international trade. -
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
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.
