History of Currency
History of Currency
To Barter or Not to Barter?
Bartering, once thought to be the earliest form of trade, is now considered inefficient. It was historically used as a supplement to more advanced systems of payment, as it required finding a person who wanted what you had to offer, which made the process cumbersome.
With the rise of agriculture, livestock like cattle and sheep, along with grain, became early forms of currency. These items were essential for sustenance and also represented wealth, with the word capitale (meaning livestock) eventually evolving into the word “capital.”
By 1300 BC, cowrie shells, small colorful shells from sea snails, began to be used as currency across different regions. They were small, divisible, and durable—ideal traits for money. This marked a shift from barter to more standardized forms of exchange.
Around 700-600 BC, coins were introduced in Turkey. Initially irregular in shape, coins made from electrum (a mix …