Sunday, January 30, 2011

Who Invented Money?

8:34 PM by nurliana purba · 0 komentar

They say money is the root of all evil, but truly, can you imagine life without money? We would have difficulty attaining items without a fair deal, and might even end up fighting over to attain ownership. It is a wonder who invented money, which really made so much difference to life.
What is money to people? In its tangible form, it is coins or paper money with indications on them stating its worth and the origins, which would allow people to settle on non-local exchange rates if needed.
There is even money in the form of numbers in our bank account statements - the money is not there as kept intact, but it is worth that much. But did you know that money came in different forms last time?
The first coin-resembling pieces of metal belonged to the Phoenicians in the 670 BC in Lydia, Turkey, but who invented money is unknown. Although that was so, the idea of money came some time ago when people bartered for livestock with plants or vice versa, which traders were concerned they would not get a fair exchange. Some people were also concerned as some of their commodities could not be exchanged for the other item, as there was a fixed commodity exchange. Plus, these were not easily portable. Money, on the other hand, made things easier carrying the relative worth, and were much easier to carry around than cows.
In 1500 BC, people had stopped carrying cattle around so that they could trade them off for another item. This was when metal money was invented by the Phoenicians. Initially, the money was made as half iron rings, with the intention to make them look like horns of bulls. Not too soon after, many traders found that people from other continents were not as accepting towards these bull horn iron money, as they thought that since metal could be traded, they might as well use any metals. This then allowed the creation of metal coinage which would bear the image of the supreme ruler of the Phoenicians' motherland, which is similar to what we have today.
Chris is the writer of this article, you can visit us for more information on Who Invented Money and Paper Money invention. Visit to read more detail.