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1100 BCE
Lydia
Lydia was the first kingdom to create a minted currency, making them extremely wealthy. They made their coins out of electrum a naturally occurring mix between silver and gold, and they printed figures on the coins to determine value. -
600 BCE
China
Around 600 B.C.E. the Chinese created the first real attempt at currency. They made miniature figures of various tools to be used as currency. -
Period: 600 BCE to
The History of Currency
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118 BCE
Leather Money
In China at this time they had moved to leather money, reasonably considered the first real banknote -
Mar 17, 806
Paper Currency
The first paper currency also appeared in China and it lasted for around 500 years until inflation caused them to drift away from paper money for a time. -
Mar 17, 1535
Wampum
String beads made from clam shells, used as currency by Native Americans. -
Gold in Britain
In Britain they began to use gold to back up currency each banknote representing a certain amount of gold. -
End of the Gold Standard
Due to the worldwide depression in the 1930's the gold standard ended leading to the creation of the complex monetary systems of today.