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When and what was the first form/type of money? Answered

I know about barter but what/when was actual money first about!?!?!?!?!?!???

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sidney.dorsett.9 (author)2015-01-13

The first form of money may have been an animal for the ritual sacrifice and illustrating a connexion between animals and later metal money. I think I heard of shells being used in some island in the Pacific and large stones with a hole in the center in some part of the Orient.

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Chirpoff (author)2011-07-10

"In the absence of a medium of exchange, non-monetary societies operated largely along the principles of gift economics.

"The Mesopotamian civilization developed a large scale economy based on commodity money. The Babylonians and their neighboring city states later developed the earliest system of economics as we think of it today, in terms of rules on debt, legal contracts and law codes relating to business practices and private property. Money was not only an emergence, it was a necessity.

"The Code of Hammurabi, the best preserved ancient law code, was created ca. 1760 BC (middle chronology) in ancient Babylon. It was enacted by the sixth Babylonian king, Hammurabi. Earlier collections of laws include the code of Ur-Nammu, king of Ur (ca. 2050 BC), the Code of Eshnunna (ca. 1930 BC) and the code of Lipit-Ishtar of Isin (ca. 1870 BC).[7] These law codes formalized the role of money in civil society. They set amounts of interest on debt... fines for 'wrong doing'... and compensation in money for various infractions of formalized law.

"The Shekel referred to an ancient unit of weight and currency. The first usage of the term came from Mesopotamia circa 3000 BC. and referred to a specific mass of barley which related other values in a metric such as silver, bronze, copper etc. A barley/shekel was originally both a unit of currency and a unit of weight, just as the British Pound was originally a unit denominating a one pound mass of silver."

Hope this helps! :)

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Silas A. D. (author)2010-03-27

Metals objects were introduced as money around 5000 B.C. By 700 BC, the Lydians became the first in the Western world to make coins. Countries were soon minting their own series of coins with specific values. Metal was used because it was readily available, easy to work with and could be recycled. Since coins were given a certain value, it became easier to compare the cost of items people wanted. Some of the earliest known paper money dates back to China, where the issue of paper money became common from about AD 960 onwards.

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frollard (author)2010-03-08

I would venture a guess that being it was the first profession, it was also one of the first currencies:  Prostitution.

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jtobako (author)frollard2010-03-08

That's still barter-mostly because the only part you can bring to the next 'exchange' is the gift that keeps on giving:STDs.

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frollard (author)jtobako2010-03-09

a 20 dollar bill only has a 2 year life expectancy... :D

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jtobako (author)frollard2010-03-10

But is exchangeable for a new one with the same face value.

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frollard (author)jtobako2010-03-11

so long as you have a majority of it with the serial number intact...

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Kiteman (author)2010-03-10

I smell a homework question...

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kelseymh (author)2010-03-08

Did you even try typing your very own keywords into Google?

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kelseymh (author)frollard2010-03-08

When someone says, "I've been searching on Google and found this and that, but I'm sure there's more," I am happy to both give them the benefit of the doubt, and throw my own search skills at the problem.  When someone actually has all the keywords in their question, but is just too lazy to actually do the search, that's another story.

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jtobako (author)kelseymh2010-03-08

New toy: http://lmgtfy.com/ (let me google that for you)

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kelseymh (author)jtobako2010-03-08

:-D  Yeah, I know, but I'm old-school.  I just finished a couple of whois searching by actually typing whois <domain-name.com> on my Linux command line.

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orksecurity (author)2010-03-08

One starting point, with pointers to places where you can find more:
http://en.wikipedia.org/wiki/Money#History_of_money

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