Why did people start using money?
At first people bartered, which means they exchanged
things they had for things they needed. Throughout their history people have
used different things as money: knives and rice in China, cattle in Babylonia,
tobacco in America, whales’ teeth and shells on the Pacific islands.
The first government to make coins
that looked alike and use them as money was probably the city of Lydia in
Ancient Greece. The coins were made from mixture of gold and silver.
In the early 1700s, France’s government became the first in Europe to
make paper money – banknotes or bills as they say in the USA. But paper
money, as well as first coins ever, was invented in China, where traveler Marco
Polo saw it in the 1280s.
Now people carry plastic credit
cards in their wallets instead
of cash. With your credit card you
can take money from the cash-machine
any time you need it.
When you go to a foreign country, one of the first things you may see is
what money looks like. Banknotes of
different countries show queens or presidents or other famous people. But you
also may find a tiger or elephant (India), cows and fruit (Nigeria), a map
(Norway) or even schoolchildren (Taiwan).
What does money of your country look like?
Make photos and describe them.
Has money always been the same in your country?
What is its history?
Do you have banknotes and coins or only banknotes?
Let's compare our countries banknotes of the smallest
nomination.
Keziya, AL DIYAFAH HIGH SCHOOL, DUBAI
The history of rupees traces
back to Ancient-India in the sixth century B.C. The word 'Rupaiya' is devried
from a sanskirt- word 'rupaiya' which means ''wrought silver, a coin of
silver'' It is derived from the noun ''rupa'' likeness image. Sher Shah Suri
during his 5 year rule issued a coin weighing 178 grains which was termed
'Rupaiya'. The silver coin remained in use during Mughal period, Maratha era as
well in British India.
Anastasia Perepetailova has written...
So I want to write about our Ukrainian money, how they look like and some fact from the history of Ukrainian money.
First of all, Ukrainian banknote is called “hryvnia” and coin is called “kopiyka”. So here you can see photos of our money (different nominal and from two parts). It’s not all of them, it’s only what I could find now on my wallet
.
From the front there are pictures of some famous Ukrainian (Kiev Rus princes, kozaks’ hetmans, writers and poets). From behind there are pictures of architectural monuments (churches, theaters, universities). What about coins: at the front there is a nominal of a coin (1,2,5,10,25,50) and from behind there is a Ukrainian National emblem which is called trident (“trizybets”). The smallest nominal is 1 hrn, then 2,5,10,20,50,100 etc
“Hryvnia” came from “hryvna”. It was ancient money at the territory of Kiev Rus. It was a silver bar (weight half a kilo!). Photo is added too.
The history of Ukraine consists of different periods. At the time of USSR we had “ruble”, after breakdown we had “karbovanets” and only then hryvnia has appeared.
Alina Koryshkina
Dina El Hendy, Egypt
Money is used all over the world, it’s a mean of
exchange to an extent, and people buy and sell things with it. Each country has
a different currency, for example; Egypt has Egyptian pounds, America the US
Dollars, and Thailand the Thai Baht.
The idea of money started around 9000 B.C, it wasn’t
actual paper money like the one we are using today but a bit different like,
instead it was a kind of barter system; where people exchanged things they
wanted or didn’t. “The materials used in this system weren’t very convenient;
some of them were axes, fur, and stones;” said by Savvani Karnani. No one found
it logical to walk around with these things, so Lydia’s
King Altyattes in 600 B.C decided to create the first official currency; which
were coins made of electrum.
Around 1200 A.D, the Chinese started using paper money
exactly as well as coins, in Europe they were still using coins and they kept
on using them until 1600. European governments started issuing paper money for
the first time in the colonies they made abroad; to facilitate trade.
The turning point to the barter system, to coin
currencies, and then finally to paper money caused a huge rise in trade, and
all the economies around the world benefited from these changes, that were
radical for today’s life.
Keziya, AL DIYAFAH HIGH SCHOOL, DUBAI
HISTORY ON ANCIENT INDIAN MONEY
The history of rupees traces
back to Ancient-India in the sixth century B.C. The word 'Rupaiya' is devried
from a sanskirt- word 'rupaiya' which means ''wrought silver, a coin of
silver'' It is derived from the noun ''rupa'' likeness image. Sher Shah Suri
during his 5 year rule issued a coin weighing 178 grains which was termed
'Rupaiya'. The silver coin remained in use during Mughal period, Maratha era as
well in British India.
The early notes of Bank of
Bengal was printed only on one side and issued with gold mohur and in denominations
of Rs.100, Rs.250,Rs. 500 etc. Later notes had vignette representing an allegorical
female figure personifying 'commerce'.
By nineteenth century was
replaced by 'Britannia' with more features to prevent forgery.
By Keziya Mascarenhas 5G1
AL DIYAFAH HIGH SCHOOL, DUBAI
Anastasia Perepetailova has written...
So I want to write about our Ukrainian money, how they look like and some fact from the history of Ukrainian money.
First of all, Ukrainian banknote is called “hryvnia” and coin is called “kopiyka”. So here you can see photos of our money (different nominal and from two parts). It’s not all of them, it’s only what I could find now on my wallet
.
From the front there are pictures of some famous Ukrainian (Kiev Rus princes, kozaks’ hetmans, writers and poets). From behind there are pictures of architectural monuments (churches, theaters, universities). What about coins: at the front there is a nominal of a coin (1,2,5,10,25,50) and from behind there is a Ukrainian National emblem which is called trident (“trizybets”). The smallest nominal is 1 hrn, then 2,5,10,20,50,100 etc
“Hryvnia” came from “hryvna”. It was ancient money at the territory of Kiev Rus. It was a silver bar (weight half a kilo!). Photo is added too.
The history of Ukraine consists of different periods. At the time of USSR we had “ruble”, after breakdown we had “karbovanets” and only then hryvnia has appeared.
Suzan Gevorgyan
Ukraine’s
Coins:
Coins were
first struck in 1992 for the new currency but were not introduced until
September 1996. Initially coins valued between 1 and 50 kopecks were issued. In
March 1997, 1 hryvnia coins were added. However, they are rarely seen in
circulation. The note of the same value is far more commonly used. Since 2004
several commemorative 1 hryvnia coins have been struck.
In October
2012 the National Bank of Ukraine announced that it would be examining the possibility of withdrawing the 1
and 2 kopeck-coins from circulation .The coins had become too expensive to
produce compared to their nominal value.
Also, on 26
October 2012 the National Bank of Ukraine announced the
introduction of a 2 Hryvna coin.
Nadezhda Kachanovskaya
I'd Like to say some words about history of our money as well.
In the 8-9th centuries on the territory of Belarus were used Arab coins – dirhams.
In the 14th century Prague groschen came to Belarus .
The land on which our ancestors lived, have always been at the crossroads of trade routes. So the money was different: denarius, shillings, ducats, and in the 15th century thalers appeared .
In the mid-17th century mint worked in Brest . There solidi minted copper on which was depicted the ancient symbol of "Pursuit"
In the late 18th century, the land on which they lived joined to the Russian Empire. Since that time over 200 years different coins with the image of the eagle were used . At the beginning of the last century, the main thing here was the golden Russian ruble.
In the twenties of the last century we lived in the Soviet Union. Then the Soviet money came - coins and notes, on which a hammer and sickle were painted . They are also called, as now rubles.
First own money appeared in Belarus after the collapse of the Soviet Union. All countries began to live separately and print their own money. In the Republic of Belarus on the first banknotes drawn squirrels, wolves, beavers, bison were illustrated . Later they began to draw buildings on the bills. This tradition has survived to the present. On modern Belarussian money depicted monuments of Belarus.
Liza Popko
Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given socio-economic context or country. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment. In Ukraine, we have a lot of money in different colors and denominations. We are a country that had a very long history of national - liberation struggle. On our money depicted historical figures which are directly linked to these events, or those who were the rulers of our country and made a huge contribution to its development. With this we show that remember what they have done for our future, and we respect them.
Nadezhda Kachanovskaya
I'd Like to say some words about history of our money as well.
In the 8-9th centuries on the territory of Belarus were used Arab coins – dirhams.
In the 14th century Prague groschen came to Belarus .
The land on which our ancestors lived, have always been at the crossroads of trade routes. So the money was different: denarius, shillings, ducats, and in the 15th century thalers appeared .
In the mid-17th century mint worked in Brest . There solidi minted copper on which was depicted the ancient symbol of "Pursuit"
In the late 18th century, the land on which they lived joined to the Russian Empire. Since that time over 200 years different coins with the image of the eagle were used . At the beginning of the last century, the main thing here was the golden Russian ruble.
In the twenties of the last century we lived in the Soviet Union. Then the Soviet money came - coins and notes, on which a hammer and sickle were painted . They are also called, as now rubles.
First own money appeared in Belarus after the collapse of the Soviet Union. All countries began to live separately and print their own money. In the Republic of Belarus on the first banknotes drawn squirrels, wolves, beavers, bison were illustrated . Later they began to draw buildings on the bills. This tradition has survived to the present. On modern Belarussian money depicted monuments of Belarus.
Liza Popko
Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given socio-economic context or country. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment. In Ukraine, we have a lot of money in different colors and denominations. We are a country that had a very long history of national - liberation struggle. On our money depicted historical figures which are directly linked to these events, or those who were the rulers of our country and made a huge contribution to its development. With this we show that remember what they have done for our future, and we respect them.
Alina Koryshkina
Numismatics
Is it a science or a
hobby? Is it for history or for fun? The answer is for both.
But first of all, it is a science that studies the
history of coinage and money circulation.
This word is derived from Latin «numisma», that means
«coin».
Traditionally numismatics is also involved in the
study of medals, descended from the coins. Numismatics studies the money only in their material
manifestation.
Numismatics studies coin’s relationship with the
history, economy, politics, law, culture and technique. Numismatics is involved
in the sphere of interests of paper money and various bills.
The first step to scientific numismatics was
collecting coins. But who was the first collector? We cannot give an exact
answer to this question with confidence. We don’t have direct evidence that in ancient times collecting coins and collections
have already existed .
However, there is considerable evidence that, in Rome
during the Imperial period many people were interested in ancient and foreign
coins.
Absar Ul Husnian
Some information about Pakistani currency
At the time of independence of Pakistan in 1947 the Reserve Bank of India was functioning as Central Bank of the undivided India. As it was not possible to set up a separate Central Bank in Pakistan immediately after partition, it was agreed under “Monetary System and Reserve Bank Order 1947” that the Reserve Bank of India should continue to function as a Central Banking Authority for Pakistan until 30th September 1948. However, subsequently arrangements were made to relieve the Reserve Bank of India from its duties as Central Bank for Pakistan as from the 30th June 1948. Accordingly, the State Bank of Pakistan came into existence with effect from the 1st July 1948.
As per the partition arrangement, India notes in circulation in Pakistan were to be replaced by Pakistan’s own currency notes. Therefore, Pakistan inscribed notes containing inscription ‘Government of Pakistan’ in Urdu and English were started issuing from 1st April 1948. The inscribed notes were in the denominations of Re.1, Rs.2, Rs.5, Rs.10 and Rs.100 which were demonetized from 15th January 1952.
The Government of Pakistan issued its first notes from 1st October 1948 in the denominations of Rs.5, Rs.10 and Rs.100 printed in Intaglio process by Ms. Thomas De La Rue & Co. London.
The first note of the State Bank of Pakistan of Rs.2 along with Government of Pakistan Re.1 note was got printed in Litho process from Ms. Bradbury Wilkinson & Co. London which were issued from 1st March 1949. Subsequently, banknotes printed by Ms. Thomas De La Rue & Co. in the denominations of Rs.5 and Rs.10 were put into circulation from 1st September 1951 and Rs.100 form 15th September 1953. These notes remained in circulation until their replacement started by printing M/s. Pakistan Security Printing Corporation in 1953-54.
The portrait of Quaid-e-Azam was initially introduced on Rs.100 denomination note from the 24th December 1957. The bank/currency notes put into circulation after 1957 to date are listed below with the date of their first issue:
Bank Note
First Issue
50 Rupees 12 June 1964
1 Rupee 14 July 1964
500 Rupees 28 October 1964
5 Rupees 19 September 1966
10 Rupees 16 November 1970
50 Rupees 1 March 1972
100 Rupees 1 March 1972
5 Rupees 5 June 1972
10 Rupees 5 June 1972
1 Rupee 20 December 1972
1 Rupee 16 May 1974
1 Rupee 15 April 1975
5 Rupees 12 July 1976
10 Rupees 12 July 1976
100 Rupees 12 July 1976
50 Rupees 29 December 1977
1 Rupee 24 March 1981
2 Rupees 24 August 1985
500 Rupees 1 April 1986
1000 Rupees 18 July 1988
5 Rupees (Commemorative) 13 August 1997
20 Rupees 13 August 2005
10 Rupees 27 May 2006
5000 Rupees 27 May 2006
Bank Note
First Issue
50 Rupees 12 June 1964
1 Rupee 14 July 1964
500 Rupees 28 October 1964
5 Rupees 19 September 1966
10 Rupees 16 November 1970
50 Rupees 1 March 1972
100 Rupees 1 March 1972
5 Rupees 5 June 1972
10 Rupees 5 June 1972
1 Rupee 20 December 1972
1 Rupee 16 May 1974
1 Rupee 15 April 1975
5 Rupees 12 July 1976
10 Rupees 12 July 1976
100 Rupees 12 July 1976
50 Rupees 29 December 1977
1 Rupee 24 March 1981
2 Rupees 24 August 1985
500 Rupees 1 April 1986
1000 Rupees 18 July 1988
5 Rupees (Commemorative) 13 August 1997
20 Rupees 13 August 2005
10 Rupees 27 May 2006
5000 Rupees 27 May 2006
Comments from Mrs. Urbanski's class in southern California, USA:
ReplyDelete1) Diego and Shawn noticed that in the 1700's France was the first European government to use paper money. We used this fact to discuss the difference between paper money and coins - noting the advantages and disadvantages of each.
2) Victoria, Robyn, Alyssa, Destiny, Marcial and Justin all wondered about the bartering system that was used before money. We had a great discussion from this about what that would look like today. We also were able to discuss why money from different countries has different values, but we wondered if items would hold the value better.