When was the idea of currency/money invented? Who invented it?

Answer 1

Early currency

The origin of currency is the creation of a circulating medium of exchange based on a store of value. Currency evolved from two basic innovations: the use of counters to assure that shipments arrived with the same goods that were shipped, and the use of silver ingots to represent stored value in the form of grain. Both of these developments had occurred by 2000 BC.

This first stage of currency, where metals were used to represent stored value, and symbols to represent commodities, formed the basis of trade in the Fertile Crescent for over 1500 years. However, the collapse of the Near Eastern trading system pointed to a flaw: in an era where there was no place that was safe to store value, the value of a circulating medium could only be as sound as the forces that defended that store. Trade could only reach as far as the credibility of that military.

Answer 2

It used to be that people bargained with stuff to get what they wanted. If I was a doctor and you were a farmer and needed my help because you had an illness, you would come to me and ask me for help and offer me a dozen eggs for a year. So people got what they needed by giving away the one thing they were good at.

It is a little hard to carry a chicken in your pocket though so that is how currency was created. First it was gold coins. Gold is heavy when you are carrying a lot of it though. So that is how paper became popular.

As for who invented it I would have to say that governments did. It changed from bartering to trading services for cash.

Answer 3

We don't know who invented money. The further we go back (we are discovering new civilizations all the time), the further back we find some sort of currency being used. Even foodstuffs used in bartering could be considered a form of currency. Gold is the key. Any civilization which had gold knew instictively how to use it.

Answer 4

Two concepts exist that must be understood. If you don’t grasp these two concepts, the banklords will continue to enslave you by making you work for them for free. Not too good a thought, is it? So, let’s fix it. Okay? Good. The two concepts are

1. Money is unreal, meaning imaginary, intangible.

2. Currency is NOT money, but merely represents money.





Since money is unreal, it would be convenient to have something real to represent it. We need something we can get our hands on to use in our daily lives. So, we used our human mind and invented currency to represent money. Now we have something real that we can hold in our hands and use to exchange value. But beware of a pitfall. It is much too easy to start calling currency money, and that is where we get into a heap of economic trouble. People get to thinking that printing currency is printing money, but that is far from the truth. Printing currency is just that: Simply printing ink on paper.

Answer 5

when human life became sedentary, people exploited the earth and got resources.surplus resources could be traded. barter system was used initially and then the concept of currency was first tried, i think, by the mesopotamians in the current Iraq.

Answer 6

The oldest money I've heard about were copper rods used by ancient Egyptians.

Answer 7

i do know that the Chinese who is the one invent paper currency.once man butter trade and get tired of it so they invent money.

Answer 8

here's a link....http://landru.i-link-2.net/monques/historyofmoney.html

i don't want to read about money, just makes me think how short my budget is at the moment. you do the reading...lol :)