Paper Money

January 12th, 2010 | Coin Collecting, paper money

Warning: fsockopen() [function.fsockopen]: unable to connect to geoip1.maxmind.com:80 (Connection timed out) in /home/vintage08/vintageantiquecollectible.com/phpbay/includes/country.php on line 92

Rare U States Paper Money VALUED $10000 $500000

US $100,000.00

Sale

$10 1901 BISON PCGS 67PPQ AWESOME PAPER MONEY COOL

US $24,500.00

Sale

Coins and Paper Money -> Paper Money: US -> United States Notes

Paper money has a long and varied history that dates back centuries. Although we are used to dealing with paper money on a constant basis it was not too long ago that it wasn’t even used. Let’s take a look at the history of paper money so that you can gain a better appreciation of the money you use today. It’s one of the easiest ways of spending, but it wasn’t always that way.

Originally, paper money was developed by the Chinese, who called it “flying money.” This was due to the fact that the paper used was incredibly frail and light weight. If you didn’t have a good grip on it, it could easily be blown out of your hand by a strong gust of wind, hence the nickname. It can be dated back to around the ninth century, but there are some instances and some evidence that point to paper money being around as early as the eighth century.

Instead of having an actual standard, like today’s money, the first paper money was backed just by your signature and how much you had in the bank. In that way, it was very much like a check that we would use today. This is also where the term bank drafts came into play, even back hundreds of years ago. It wasn’t until many centuries later that a standard was developed in Asia for paper money and at that time, it’s worth was solidified by silk.

Eventually, the use of paper money dwindled, especially during the Ming period in China, when the notes became worth a set amount of money, making them harder to spend, especially on the daily necessities of life. It wasn’t until the middle ages that it would again be put into use, and even then, it took until the late 1800’s for paper money to become standard.

Today, we don’t think twice about whipping out a bill here or there, but in ancient times, paper money was quite rare. There are records of paper money being used in the colonies of the United States, but coins were generally used more and of course, gold and silver were quite common. That is now flipped, with the vast majority of people all over the world using paper instead of coins.

However, the introduction of credit and debit cards has hit the paper money market hard. Fewer people are using it and as a result, we may be going backwards in time a bit. While coin money may never become quite popular again, it is clear that our reliance on paper money is definitely dwindling. This has created quite a market for collectors interested in finding unique notes.

While you may not be able to get your hands on a paper note made in China from the 900’s, you can certainly find European, American and Russian notes that are quite valuable. The best place to find collectible paper money is at a coin shop or at an online auction.

Photo Credits: AMagill

Originally posted 2008-10-05 00:27:08. Republished by Blog Post Promoter

Related Posts

Military Coins Coins and Paper Money -> Coins US -> Coins - World Whether you were once in the military, or you are a collector all of things militaria, military coins are a great and valuable item to start amassing. There are many different kinds of military coins that are currently available......
Collection Coins Collecting antique gold coins is an excellent buy, and if you are trying to combine a hobby with an investment, then collection coins are a much needed asset for any portfolio. If you are unfamiliar with what buying an antique gold coin can do for you, then you are going......
Collecting Greek Coins There are three different points in time that Ancient Greek coins are divided into. The first period of time for the history of ancient Greek coins is known as the Archaic period. This particular period of time expands from when coinage first appeared in the Greek World in 600 BCE......
Collecting Maple Leaf Canadian Coins If you are looking for an intriguing coin collection, consider adding Maple Leaf Canadian coins to your collection. These Maple Leaf coins are the official Canadian bullion coins and they are created and distributed by the Royal Canadian Mint. They come in a number of different metal types including gold,......
Gold Coins Coins and Paper Money -> Coins: US -> Gold Before you decide to purchase gold coins, there are a few things that you need to know to avoid being taken advantage of. While most dealers are honest, it is vital to take these steps to ensure you are dealing with......

Related Websites

Multichannel Cost Management - How to Tighten Your Belt Without Feeling the Pinch Trim the Fat and Leave the FiletThe economy is delivering a one-two punch of higher costs and lower sales. It doesn't have to be a knockout blow. In fact, it might not even hurt, if you are willing to cut costs, market smarter, and innovate. When there is a......
Catching A Perception Shift A few days ago I wrote that for every two steps I take forward, I appear to suffer being pushed back three. I could not see any way out of the situation I was facing, and it started to eat me up from the inside. I am a naturally pessimistic......
Surfing on a Budget Sometimes surfing equipment and surfing apparel can be really expensive, making this a difficult hobby to simply jump into. This is especially true if you are unsure about whether or not you would like to continue surfing. Why should you pay an arm and a leg for equipment that you......
Setting Goals for Good Personal Finance /caption] Setting goals is an important part of your personal finance plan. Goals can be divided into four unique categories that are relatively general in nature. These categories are short term goals, intermediate term goals, long term goals and life goals. Short Term Personal Finance Goals - These short term......
Weakon 247: The Great Depression Welcome to an economics history course. Weakon 247 is a class that talks about the Great Depression. Most notably we'll talk about what created it, and how we got out of it. The Great Depression is considered the standard by which we compare "how bad things get." To know the......