What is the Origin of the Money? The history of Money

Money History

At first, men used barter as a form of exchange of products or services; that is, they exchanged things or hours of work for other things or tasks that they needed for their lives. But this was not always possible because sometimes both had the same thing to offer and then there was no barter that was worth it. It was then that someone, we will never know who, came up with the idea of ​​symbolizing the value of things in an object that could be a snail, heads of cattle, bags of salt (hence the word “salary”) or slaves as a way of pay.

What were the first coins like? 

Chinese coins – which are the oldest known and date from 1100 BC – were bronze copies of tools that were previously exchanged for merchandise. The bronze knife-coin, for example, was too delicate to be used as a tool and served only as a coin. But the first coins made with an alloy of gold and silver appeared in Lydia (Asia Minor), which was then part of the Greek world (Asia Minor) in the 8th century BC. Over time, each Greek city had its own coin, except Sparta, which continued to use iron bars as a bargaining chip.

What was the richest coin? 

Cocoa, which in addition to preparing their tasty invention, the chocolatl, was used by the Aztecs as a means of payment. It seems that it was a problem to send the boys to run errands: many were left with the change in their bellies.

What was the most popular coin of antiquity? 

The Athenian, which was spread by Greek merchants and soldiers throughout the ancient world. In the countries with which the Greeks traded, they called their coins “little owls.” The owl that was minted on the coins was the symbol of Athena, the goddess of wisdom, who, like Zeus, could launch terrible lightning bolts in defense of a just cause. These coins became so popular that many countries copied them and made their own with very similar designs.

Face or tail? 

Philip, King of Macedonia, unified all of Greece and saw fit to issue a single currency, eliminating those of each city. So that there would be no doubt about who he was in charge, he had his face minted on the coins. His son, Alexander the Great, followed his example and at the rate of his conquests, imposed the custom. From then on, all the kings wanted to see their faces on the coins. This was practically the only chance the Romans had to see the emperor’s face. But this did not guarantee the president his perpetuation in history. The Roman historian Suetonius tells that on the death of the emperor Caligula, all the coins with his effigy were melted down and reused so that the tyrant’s face would be forgotten.

Who was the first money counterfeiter? 

Polycrates, a ruler of the Greek city of Samos who in 540 BC conned the Spartans out of counterfeit gold coins. Polycrates made a school and many imitated him. Some kings reduced the amount of gold or silver in their coins by mixing it with other metals, cheating their subjects and pocketing the difference.

When did paper money appear? 

The Chinese were the first. Already in the 9th century AD, during the Tang dynasty, the first banks appeared in which people deposited their coins and in exchange, they were issued a certificate for the deposited amount that served as a means of payment. So people did not have to move around with heavy pieces of silver. There are, however, those who maintain that the first banknotes began to circulate in China around the 7th century. In the West, it was not until 1661 that this system began to be used regularly in Sweden, although some researchers maintain that paper money was already circulating in some regions of the Iberian Peninsula in the 15th century.