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For as long as man-kind has been around, there has always been some way for us to make deals or barter. Whether it was trading animal pelts or meats, to gold this system had always been around. Through the centuries our way of bartering has changed and adapted many times until we have our world currencies of today.
Currency is defined as “the means of purchasing through trade.” Today currency is seen as printed or minted money, sometimes with the inclusion of coins. Currency is what we use to exchange good or services for cash.(Wisegeek) A lot of people confuse currency with money, but they are not the same. Money is unreal, imaginary, it is an idea. Currency is what we use to back up the idea of what we think money is. Paper bills and metal coins are currency, not money, though that is what we tend to call them. The amount of currency in circulation all depends on the amount of money in the county’s economy (Money vs. Currency). A country should not have more currency than money.
Through out time many different types of currencies have been used. The first form of a money-like exchange was done in China with cowry shells. This method of exchange came about around 12 B.C. By the time 1000 B.C. rolled around, the Chinese had created mock cowry shells in the form of metal; this was the first use of coins as a form of currency. The first forms of paper currency were also used in China, but due to an over abundance of it, it quickly vanished (The History of Money). The next time paper currency was used was in the European countries.
Through time each country has adopted their own individual currency. Japan has the Yen, the United Kingdom has the Pound, and the United States has the Dollar. Each currency is worth a different amount. To compare one country’s currency worth to another’s is called an exchange rate. In Japan One Yen is worth a different amount than One Penny. That same Penny is worth a different amount than One British Pound. No country’s currency is worth the same as another’s.
Money and Currency are a very important part of our world. We basically cannot do anything without them. They have come a long way through out the centuries and maybe still have a longer way to go. The currency of the future is already here today. One thing it is safe to say about them is that no matter how they change, they will always be around.
msn Money. Curreny Rates. 2011. 2 March 2011 <http://moneycentral.msn.com/investor/market/exchangerates.aspx>.
Gjelten, Tom. Can a New World Currency Displace the Dollar? 24 March 2009. 2 March 2011 <http://www.npr.org/templates/story/story.php?storyId=102306392>.
European Commission. Economic and Financial Affairs: The Euro. 17 January 2011. 14 March 2011 <http://ec.europa.eu/economy_finance/euro/index_en.htm>.
Money Versus Currency. n.d. 2 March 2011 <http://www.uhuh.com/unreal/moncur.htm>.
The History of Money. n.d. 14 March 2011 <http://library.thinkquest.org/28718/history.html#>.
“WiseGeek.” What is Currency. 2003-2011. 2 March 2011 <http://www.wisegeek.com/what-is-currency.htm>.
“Go Currency.” What is the United States Dollar (USD)? 2001-2011. 2 March 2011 <http://www.gocurrency.com/countries/united_states.htm>.