Created by potrace 1.14, written by Peter Selinger 2001-2017

King Haakon VII Coins

There are instances when you may run across a tattered and totally worn out dollar bill. It may seem as if it’s been around forever. One thing’s for sure, it has not but history of mankind for using cash currency dates back to 40,000 years ago.

A Backtrack of History

Scientists and experts tracked down the trade and exchange through archaeological record which starts in the Upper Paleolithic when the group of hunters trade for best tools like flint weapons.

The very first human beings have bartered, which results to direct dealings between two parties who have items they wanted to trade off.

How Money is Used since the Beginning of Time?

Then a bit later, money was introduced. This is a form of exchange that has developed throughout time from objects seen in the environment, to coins, paper and now, a digital version of it. Regardless of the format though, human beings have been using currency for varieties of purposes like:

  • As a method of payment
  • Means of exchange
  • Store of wealth
  • Unit of account and
  • Standard of value

There are several theories that are raised when it comes to the origin of money. It is facilitating exchange of measure. This diversified societies by means of reciprocity and gift-giving. It is perpetuating social hierarchies and lastly, a way to gauge power.