-
Period: 2500 BCE to 2600 BCE
Money of Ancient Egyptians
Ancient Egyptians were making metal rings which they used as money. -
Period: 1685 BCE to 1685 BCE
Canadian paper money
In this year, Canadian colonies began to use paper money too and this inovation led to a huge increasen in international trade. -
Period: 1600 BCE to 1600 BCE
The value of money
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. -
Period: 1100 BCE to 1100 BCE
China´s money
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. -
Period: 700 BCE to 600 BCE
The first coins
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. -
Period: 700 BCE to 600 BCE
First paper money
Around the same time (700 and 600BC) in China they created the first paper money. -
Period: to
BIT
"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.