When did societies begin using currency to trade goods across borders?
Payments
Asked by Question Bot08/Feb/20151 answer
1 Answer
F
Faisal Khan
Answered 08/Feb/2015
The Song Dynasty in China was credited with the very first issuance of currency notes for trading, a fact that was recorded by Marco Polo amongst his travel logs.
As stored in the British Museum, the Great Ming Circulating Treasure Note Ming dynasty, first issued circa 1375 CE
Though not explicitly moved, the Rai Stones on the island of Yap, were also the first currency (albeit in heavy stones) that was used to trade value between the islands, dating back to 1,000-1,400 CE.
For Gold, to be used as money (or currency), was around the 550BC when Lydian merchants (from Lydia, ancient Greece) used gold lumps to trade.
Proper gold/silver trading was around the 100-120AD when these precious coins saw their way in India for spices and China for silk.
As stored in the British Museum, the Great Ming Circulating Treasure Note Ming dynasty, first issued circa 1375 CE
Though not explicitly moved, the Rai Stones on the island of Yap, were also the first currency (albeit in heavy stones) that was used to trade value between the islands, dating back to 1,000-1,400 CE.
For Gold, to be used as money (or currency), was around the 550BC when Lydian merchants (from Lydia, ancient Greece) used gold lumps to trade.
Proper gold/silver trading was around the 100-120AD when these precious coins saw their way in India for spices and China for silk.