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Who invented real money?

Updated: 8/17/2019
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13y ago

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'Real' money refers to money that has value entirely on its own, without the backing of governments. Real money includes precious metals like gold and silver and certain other commodities with substantial value and easy transportability. Real money has no inventor. It has been used for at least 2,500 years and probably much longer.

'Fiat' or paper money has been used for only about 200 years in most of the world. There is no one person who invented it. The British Pound was the first widely-used standard of paper money accepted in many parts of the world. However, the first government known to issue paper money was the Song Dynasty in China, about 1,000 AD.

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13y ago
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