How did money start? Did everyone just get like $10? How were currencies developed? How did we go from bartering to cash, and how were values determined? $5 for a chicken?
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geek860
ANSWERS: 2
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Read this. It might be enlightening on the topic: http://www.answerbag.com/q_view/135272
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Money as we consider has been used since the 17th century. The most common forms have been metal coins, paper notes, and bookkeeping entries. Metals, especially gold and silver, have been used for money for at least 4,000 years; standardized coins have been minted for perhaps 2,600 years. In the late 18th and early 19th century, banks began to issue notes redeemable in gold or silver, which became the principal money of industrial economies. We went from bartering to cash because in cities you can only have so many cows and chickens. Values are pretty much regional and not fixed. People decide how much value it has. I got this information from the Encyclopedia Britannica.
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