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2500 BCE
Metal rings used as money.
Ancient Egyptians were making metal rings used as money. -
1100 BCE
System of using miniature replicas.
In China,a system of using miniature replicas of the objects to be traded were used instead of the objects themselves. -
Period: 700 BCE to 600 BCE
The creation of the first coins.
The first coins, as we would recognise them, were made in Lydia (now Western Turkey). -
Period: 700 BCE to 600 BCE
The creation of the first paper money.
Around the same time of the creation of the first coins the first paper money was being used in China. -
Europeans were using more and more metal coins.
The metal coins were made with metal taken from their colonies overseas. -
Canadian colonies began to use paper money too.
This innovation led to a huge increase in internatinal trade. -
The pirates might try to pay in pieces of eight in all the shops.
A Spanish eight real coin was often split up into bits to pay for things, leaving the bits as change. -
End of the threepenny in the UK.
The threepenny was only scrapped in 1971. In the English colonies of the West Indies half a real was four bits and a quarter was two bits, a phrase used by people in the USA today. -
Debit cards.
In the modern worls many people use plastic cards called debit cards to pay for things. The cards transfer money from their bank account to the shop's bank account. -
Credit cards.
People also use money thet don't even have yet by paying with credit cards. They then pay the money back later.
