Money has been around for a long time, but it didn’t always exist as the paper currency we use today. The form of money used back then was the barter system for exchanging resources, purchasing goods or services. Livestock and crops were used as payment and when the first banks appeared, patrons were depositing grains, tools and precious metals.
Around 1,000 BCE metal coins were used during the Zhou dynasty and the first coins were minted in 687 BCE in Lydia (present day Turkey). Copper was used to make the coins and over the years, it led to a shortage. As a result, in 806 CE, money evolved in the form of paper.
Nowadays, a new form of currency is making an appearance, the digital currency. Maybe one day, digital funds will eliminate paper money and metal coins or it will evolve into a new format. Check out the infographic for more history about money.