What Year Was Money Invented?


19 Answers

Anonymous Profile
Anonymous answered
Money was not invented in 1913 it was invented in 1876 for easy trade. They used to trade cows and sheep and other animals but they wanted something easier to trade so they invented money.
Anonymous Profile
Anonymous answered
Bartering and Commodity Money

In the beginning, people bartered. Barter is the exchange of a good or service for another good or service, a bag of rice for a bag of beans. However, what if you couldn't agree what something was worth in exchange or you didn't want what the other person had. To solve that problem humans developed what is called commodity money
A commodity is a basic item used by almost everyone. In the past, salt, tea, tobacco, cattle and seeds were commodities and therefore were once used as money. However, using commodities as money had other problems. Carrying bags of salt and other commodities was hard, and commodities were difficult to store or were perishable.
Coins and Paper Money

Metals objects were introduced as money around 5000 B.C. By 700 BC, the Lydians became the first in the Western world to make coins. Countries were soon minting their own series of coins with specific values. Metal was used because it was readily available, easy to work with and could be recycled. Since coins were given a certain value, it became easier to compare the cost of items people wanted.
Some of the earliest known paper money dates back to China, where the issue of paper money became common from about AD 960 onwards.

On March 10, 1862 the first United States paper money was issued. The denominations were $5, $10, and $20. They became legal tender by Act of March 17, 1862. The inclusion of "In God We Trust" on all currency was required by law in 1955. The national motto first appeared on paper money in 1957 on $1 Silver Certificates, and on all Federal Reserve Notes beginning with Series 1963
Paul Constantinescu Profile
About 3,000 to 4,500 years ago, in China, cowry shells became the first medium of exchange. Then shell shaped mediums of exchange made from bone, wood, stone, lead and copper.Then bronzed shells 1500 to 1046. Then variously shaped bronze coins, and round bronze coins with square holes in the middle starting at around 221 B.C. During the Song dynasty (960-1279), A form of promissory note in the Sichuan province called flying money became very popular during the Song Dynasty (960-1279). In 1024, the government took over the production of flying money, and then expanded the system into the world's first paper money currency.
sai krishna Profile
sai krishna answered
Up until the Babylonian's time, money was live animals, skins, things from crops and other things that you could trade. The Babylonians created a system of money that was based on weight. One unit was called minna.
Anonymous Profile
Anonymous answered
Majority rules that money was invented in the 19 100's (1912's or 1913's)
Anonymous Profile
Anonymous answered
-so basically what yall r tryna say isz that yall don't kno when wuz money invented btu yall think yall do if you don't kno juss stay off dah freakin pge and leave it 2 sum1 who no what dey r tlkin about.....
Muddassar Memon Profile
Muddassar Memon answered
Economic books have given us many definitions of money, but there is not specific date as to when money was invented. In modern world money is defined on the basis of its functions like in trade.
The invention of money has put the barter system out of use. The efficiency gains go higher with the use of money and this encourages trade and division of labor.

In various beliefs, money is still the word used for silver or gold. Money was called currency from the year 1913 the change began with the development of the Federal Reserve.

The change is applied to purely to currency notes; money has expanded over the period of years from gold, silver, copper, brass, iron, stones, shells to paper.
thanked the writer.
J. A.
J. A. commented
The big '?' is better said who, A Muslim, whose sought result I though dead still don't know, if I can count on, & whose surviving family's finance lawyer's meanwhile still absolu-
tely welcome to take 'It' up with me, please, so that I can more easily than up till now of
course tell you & help e.g. myself realize, what A Moneyless Fate is, it depends on, what
you tell me about moral, greet's
Anonymous commented
Money was invented in the year of 1913.
Money has expanded over the period of years from gold, silver, copper, brass, iron, stones, shells to paper.
So there is your answer

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