History of Money

Paper money (a promise to pay gold or silver or bronze in exchange for this piece of paper) was first used around 1150 AD, in China during the Sung Dynasty. So people in China had the first idea for both coins and paper money.

It was not much later than this that people in West Asia and Europe began to use letters of credit as a substitute for money. These were letters from a bank, that you could carry around with you when you were travelling. When you got where you were going, you could show your letter to a bank there, and that bank would give you some money. That way, you didn't have to carry bags of money with you when you were travelling and they might get stolen. Modern checks and credit cards are based on the same idea.

To find out more about money, check out these books from Amazon.com or from your library:

Eyewitness: Money, by Joe Cribb (2000). Not the best in the series, but still a good introduction to exchange systems for kids.

The History of Money: From Sandstone to Cyberspace, by Jack Weatherford (1998). Great on what money is, and how it has changed over time - some conclusions are controversial.

Back to first page about money
Back to main economy page
Kidipede - History for Kids Home

Educating children is a tough job – let Kidipede make education easier with free online homework help. Homeschooling? Kidipede will also fit right into your homeschool material. And Kidipede’s great for unschoolers, who can surf independently. With Kidipede’s homework or homeschool material, education can be fun instead of a chore!

Teachers - check out our social studies lesson plans for middle school ancient history! Kidipede covers Egyptian Art, the Middle Ages, Ancient Rome, Native Americans and much more. Instant museum in your classroom.

Parents and grandparents – find the perfect gift for your middle school kid in Kidipede’s store! Kidipede has history books and other educational gifts for kids, from Halloween costumes to CD’s and DVD’s to art supplies. Now that’s good parenting! Pay securely through Amazon.

Teens – Kidipede has the best homework help around. Find out about ancient Greek music, medieval clothing fashions, and Native American technology trends. What was trendy clothing in ancient China? Who were the most popular girls in ancient Rome? How did teens decorate their rooms in ancient India?