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History of Money

The history of money began with the barter system before the shekel emerged as the first known form of money around 5,000 years ago. The introduction of gold and silver coins around 650–600 B.C. marked a significant development, with the Lydian stater being the oldest known legal currency minted around 600 BCE. Money plays a crucial role in fulfilling basic human needs such as food, housing, and healthcare, impacting individual and societal well-being.

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43 views1 page

History of Money

The history of money began with the barter system before the shekel emerged as the first known form of money around 5,000 years ago. The introduction of gold and silver coins around 650–600 B.C. marked a significant development, with the Lydian stater being the oldest known legal currency minted around 600 BCE. Money plays a crucial role in fulfilling basic human needs such as food, housing, and healthcare, impacting individual and societal well-being.

Uploaded by

foura.m.426
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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The History Of Money

1- Create a 400 word summary about The history of money


2- Write two additional questions about information that you found
interesting for you, and then you will discuss them with your colleagues.

https://www.youtube.com/watch?v=YCN2aTlocOw

Before the creation of money, people exchanged goods and services.


The shekel, considered to be the first known form of money, was not
created by Mesopotamians until around 5,000 years ago. Gold and silver
coins initially existed around 650–600 B.C., at which point they were used
to pay soldiers.The oldest known form of legal money is said to have been
the Lydian stater, which King Alyattes of Lydia allegedly minted
approximately 600 BCE. The coins included pictures that acted as
denominations and were made of electrum, a naturally occurring
combination of silver and gold. Coins are initially the first thing that was
considered "money". Although the use of metal as money may be traced
back to Babylon around 2000 BCE, it is probable that standardized and
acknowledged coinage did not appear until the 7th century BCE. According
to several historians, regulated currency was first created around this time
in the Lydian kingdom, which was located in what is now Turkey. Our
fundamental requirements may be satisfied through the purchase of food,
housing, and healthcare thanks to money. It is important that we meet
these requirements; else, both our own happiness and the satisfaction of
the society as a whole suffer horribly. We may buy food, housing, and
healthcare with the help of money, which enables us to satisfy our basic
requirements. It is crucial that we meet these requirements since failing to
do so has a negative impact on both our own health and the happiness of
the community as a whole.

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