When did use of moeny started in world ?
* the shekel referred to a specific volume of barley in ancient Babylon
* iron sticks were used in Argos, before Pheidon's reforms.
* cowries were used as a money in Africa (up until 19th Century), ancient China and throughout the South Pacific.
* salt was used as a currency in pre-coinage societies in Europe.
* ox-shaped ingots of copper seem to have functioned as a currency in the Bronze Age eastern Mediterranean.
* state certified weights of gold and silver functioned as currency and gave rise to the development of coinage
* rum-currency operated in the early European settlement of Sydney cove in Australia.
* cash crops such as tobacco, rice, wheat, indigo, and maize were used as money in colonial Virginia.
Under a commodity money system, the objects used as money have intrinsic value, i.e., they have value beyond their use as money. For example, gold ...more