History of Money

Barter System

100

Trading goods and services for other goods and services.
Problem: hard to estimate value.

Use of coins

105

Started before 105, was main currency in Europe until 1600.

FIrst paper currency in Europe

Jan 1, 1600

First colonial bills

Jan 1, 1690

First Colonial bills are made

First counterfeit deterrent

May 5, 1739

Ben Franks gets this idea to make it so people can't make their own money.

First National Bank

May 5, 1781

Congress Chartered the first national bank, creating support for financial operations

First ten dollar bill

Jan 1, 1861

First credit Cards

Jan 1, 1950

'In God We Trust first appears on money

Jan 1, 1957

Electronic payments gain popularity

Jan 1, 2000