The history of money

By YFL
  • 2500 BCE

    Metal rings

    Metal rings
    This tools were used to trade in the Ancient Egypt.
  • 700 BCE

    The first paper money

    The first paper money
    The first paper money being used in china between 700 BC and 600 BC.
  • 700 BCE

    King Croesus

    King Croesus
    King Croesus, king of Lydia, minted the first known gold coin.
  • 600 BCE

    Electrum

    Electrum
    Between 700 and 600 BC. The first coins were made of discs of electrum (a natural mix of silver and gold) and stamped with pictures to show their value.

  • Metal coins

    Metal coins
    By 1600 AD, Europeans were using more and more metal coins, made with the metal taken from their colonies. In those early days of money, the use of precious metals in coins meant that the money could be traded because it held a value.

  • Canadian colonies

    The canadian colonies start to use paper money and start a huge increase in international trading.

  • Pieces of eight

    In 1700s, if a pirate walked into your shop he might try to pay in pieces of eight. A Spanish eight real coin was often split up into bits to pay for things, leaving the bits as change.

  • Bit

    Bit
    ‘Bit’ was an English term for a small coin and was still used until very recently.

  • Threepenny

    Threepenny
    End of the threepenny bit in the UK: 1971

  • Debit cards

    Debit cards
    Nowadays many people use this type of plastic cards to pay for things. The cards transfer money from their bank account to the shop’s bank account.

  • Credit cards

    Credit cards
    People also use money they don’t even have yet by paying with these plastic cards. They then pay the money back later.