-
1200 BCE
Cowry sells
Were first used as money in China
around 1200 BC.
The first coins were made in Lydia, in present day
Turkey, in the 7th century BC and soon spread all
over the Mediterranean countries. Lydian coins were
made from a mixture of gold and silver and they were stamped with the
badge of the King. -
1100
Paper money
Was first used in the 11th century by the Mongolian Emperor,
Kubla Khan, in China. European banknotes appeared in 1661 and were
issued in Stockholm, Sweden. -
Cheques
Cheques are simply signed instructions to banks to pay money directly from
one account into another. The first cheque was handled by British bankers
Clayton and Morris in 1659. -
Cash registers
Were invented by the American
saloon-bar owner James Ritty in 1879. His objective
was to stop dishonest employees from stealing money. -
Credits cards
Cards, or ‘plastic money’, enable people to buy
things or services and pay for them later by means of
cash or a cheque. The first credit card was issued in
1950 by the Diner’s Club and could be used in any one
of 27 restaurants in New York. Today, all banks issue
their own credit cards, which can be used all over the
world.