Evolution of Currency: From Barter to Digital Payments

1. Project 5 Unit 5 MONEY Tomašević Snežana mart, 2015. godine part 2 A

2. History of Money

3. History of Money • Barter - an exchange of goods or services for other goods without money. (e.g. seeds for apples)

4. History of Money • Shells Became the first medium of exchange. Shells - prototype of money In 1200 BC in China shells were used as the form of money.

5. History of Money • The first metal money The money had holes in the middle so that they could be put on a chain and be carried around the neck.

6. History of Money • First real coins • Croesus, king of Lydia (today: Western Turkey), created the first gold and silver coins in 650BC. • They had a lion’s head on them as the king’s symbol. • They were traders –soon the coins were used widely

7. History of Money • Leather money In China during 118BC leather was used as banknotes. These banknotes were made form deerskin.

8. History of Money • Paper money First paper money was produced in China in the IX century. • In Europe: travelers such as Marco Polo introduced the concept of banknotes in the XIII • European banknotes:appeared in Sweden in 1661

9. History of Money • cheques • bank cards (debit cards and credit cards) • e-banking

10. Future • the future In the future coins and notes may be taken over by cards and people will pay everything electronically.

11. What have we learnt? • Money vocabulary: (unscramble) • sach • niocs • cepreit • huecqe • tone • hacshamceni • kabnracd • cenyrruc cash coins receipt cheque note cash machine bank card currency

12. What have we learnt? • History of money 1) barter 2) shells 3) metal coins with holes 4) real coins made of gold and silver 5) leather money (notes) 6) paper money 7) cheques 8)plastic cards & e- banking