ALMOST CERTAIN . CHINA'
In the 600's there were paper currency in China and by 960 the Song Dynasty issued the first currency notes. And metal coins was before the paper currency came into existence.
China was the first country to use both paper money and the printing press.
China
Wallets were developed almost immediately after the introduction of paper Currency to the West in the 1600s. (The first paper currency was introduced in the New World by the Massachusetts Bay Colony in 1690.) Prior to the introduction of paper currency, purses (resembling simple drawstring leather pouches) were used for storing coins. Early wallets were made primarily of cow or horse leather and included a small pouch for printed "calling cards"
ALMOST CERTAIN . CHINA'
China used paper as currency in the world for the first time.
China.
The first country to issue paper money was China and it was invented by Jiaozi of the Northern Song Dynasty.
In the 600's there were paper currency in China and by 960 the Song Dynasty issued the first currency notes. And metal coins was before the paper currency came into existence.
It created the first single paper currency. It created the first single paper currency.
The first paper currency in Europe was distributed by the Bank of Sweden in 1661.
Reserve Bank of India (RBI)
India
the function was to provide a safe place to keep government funds and it could also issue paper money as the currency. :D
The 25 cent paper bill you refered to is called "fractional currency". The US Government did not issue fractional currency until 1862.
If by "banknote" you refer to paper money including promissory notes and Treasury notes, the Bank of England and its predecessors have issued various forms of paper currency from as early as 1694. It is extremely likely that earlier forms of paper money were issued by different countries, but not as general circulation currency. Very few English notes have survived from prior to 1775.