The first paper money was made in China. It could be burned at funerals and other important times to send wealth to one's ancestors.
It is now made as it is less expensive to produce at the mint and more portable for the user than coinage would be.
Money is defined as anything that can be accepted as payment for goods or services. It is also used as payment of debt. Early uses of money began with the bartering of goods almost 100,000 years ago. Goods were exchanged for other goods and this developed the commodity money system. Commodity money is money whose value comes from the object itself. In other words, objects that have value in themselves as well as for use as money.
One of the first forms of currency is The shekel. It was was originally both a unit of currency and a unit of weight and originated from Mesopotamia around 3000 BC. Many cultures in Asia and Africa used shell money which was usually the rare cowry shell.
Eventually, commodity money was replaced by Representative money. Representative money is what most of us are familiar with and are token that represents a fixed monetary value. Examples of Representative money are coins, bank notes or bills, cheques and bank drafts.
The word "money" comes from from a temple of Hera, which sits on on Capitoline, one of Rome's seven hills. Money was invented to serve three functions, as a medium of exchange, unit of account, and store of value.
Today, the exchange of money and commodity drives the world economy, and as they say on TV, makes the world go round.
it was because money was to gold reels were to heavey to carry around.
Yes money is made from paper. But not the paper that they use for fake money. And coins are made from metal or copper....or even bronze. Money is made from paper.
I would say yes. When has paper money ever held it's value?
Some of the advantages of paper money include: 1. paper money is less expensive to produce than coin money 2. paper money is not as heavy as coins, thus it is easier to transport or work with. Good luck with your homework kid!!
money in the form of coins are money which have a less value like a dollar or a 50 pence as making notes for such a less value would be wasting allot of paper and coins can be updated more easily. coins can also be carried easily.
It just is its lighter,less bulky,and nearly can fit everywhere!
Metal objects have been used as money dating back as far as 5,000 BC. The Lydians were the first people in the western world to use coins from about 700 BC. The Chinese are known to have used paper money from about 960 AD.
well first the chinese said WE LOVE PAPER AND MONEY SO LETS MAKE SOME PAPER MONEY THEN EVERYONE SAID HE WAS CRAZY BUT THEN AFTER HE MADE paper money and everyone thought tit was a a great idea *WRONG* The Chinese government thought that large amount of coins are difficult to carry. So they invented paper money in order to solve the problem. ~Improved by Pinksakuraeya
They didn't have any bills - paper money - so it was coins people traded with.
Egypt uses both paper currency as well as metal coins as money.
coins
coins used to be a form of trade. silver coins had higher denomination than larger copper coins. Paper was worth next to nothing. The paper money money was not popular because the paper money just meant that you can redeem this paper for silver. So at that time there was no point to the paper money
The money in Haiti are called Gourdes. They have paper money as well as coins, but they are called gourdes.
Russia uses both paper and coins.
The word for currency that encompasses both coins and paper money is "cash."
The first coins were stamped around 650 - 600 BD by the Lydians. Some believe that the Ancient Egyptians were the first to invent and use coin money. The first paper money is believed invented by the Romans around 100 AD.
paper money has more germs
When they learned how to use paper and some engineers developed a machine to make them work automatically.