HISTORY OF MONEY

Long before any kind of money came into use, people exchanged goods for goods. This was called the barter system. The first mint (a place where coins are made) was established by Romans in 269 B.C.

The Greeks minted a large number of coins. At first, they bore the heads of gods. But after 320 B.C., during the time of Alexander the Great, he had his own head portrayed on the coins. Later, the coins bearing the head of the ruler became more common. This practice is prevalent even now.

Paper money originated in China in the 6th century A.D. and was issued by the Mongol Emperor Kublai Khan. The first European banknotes were issued in Stockholm in 1661. The 21st century is a century of debit cards and credit cards popularly called plastic money.