History of Money

What is Money??????? The definition of Money is something that has value. What has been used as “Money” has changed significantly through out history. What are some things that could be used as “money”??????

In the Beginning before money Before people exchange money for goods ands service people bartered. Barter is the exchange of resources or services for mutual advantage, and the practice likely dates back tens of thousands of years, perhaps even to the dawn of modern humans. Cattle, which throughout history and across the globe have included not only cows but also sheep, camels, and other livestock, are the first and oldest form of money. With the advent of agriculture also came the use of grain and other vegetable or plant products as a standard form of barter in many cultures.

Progression of Currency B.C.– Cattle (Livestock), Grain, Vegetables 1200 B.C.– Cowrie Shells 1000 B.C.– First Metal Money and Coins 500 B.C.– Modern Coinage 118 B.C.– Leather Money 806– Paper Currency (Combination w/ Coins)

Other Important Money Facts 1816: The Gold Standard: Gold made the standard of value in England. (1879 in US)Gold Standard 1930: The End of the Gold Standard. The massive depressionEnd of the Gold Standard Currently: Currency continues to grow and change.. i.e. new $100 and the talk of discontinuing the penny Future: Electronic money. In the digital age, there are many transactions that occur with no exchange of actual currency. Digital Bits and Bytes are the future of money. Bitcoins