Refers to objects which are backed by a reputable source (usually a state actor) and used in lieu of barter to trade for goods and services. Originally currency was produced by containing a set amount of precious material or the promise that the object could be redeemed for a certain amount of a ...
18
votes
3answers
256 views
First evidence for replacement of barter trade by local abstract currency?
What were the first local currency systems in history we have detailed information on? I dont think it was gold/silver or other hard to produce materials. Probably these became more important ...
15
votes
1answer
139 views
What were tally sticks?
What were tally sticks, and how was it that they they worked for the economy? I understand that they were a form of currency and were of fixed value based on the notches, but how did they work as a ...
12
votes
2answers
193 views
Why did the British not introduce the sterling in India?
The question is about the adoption of currency during imperialist rule.
Why did the British persist with the local currency, the rupee?
What impediments did the British face in implementing the ...
7
votes
3answers
439 views
How much has U.S. currency inflated since 1792?
How much has U.S. currency inflated since the Coinage Act of 1792 established the U.S. Mint? Adjusting for inflation, what amount of modern currency would have the same buying power as a 1792 dollar?
...
6
votes
1answer
125 views
What coin denominations were used in the US before Dollars and Cents?
In Thomas Jefferson's proposal for a decimal currency, he describes the status quo as:
The [cent] will differ little from the copper of the four Eastern
States, which is 1/108 of a dollar; still ...
5
votes
1answer
73 views
What was the currency in use in Palestine shortly before and during WWI?
Wikipedia lists the following Ottoman currencies: Akçe, Para, Kuruş, Lira, Sultanî, but I would like to now which were prevalent in actual use (or, rather, uses). Also, such a variety suggests that ...
5
votes
3answers
148 views
How did shells, bones, and other trinkets work as currency?
One often hears stories about civilised and pre-civilised societies using shells, bones, and other trinkets as currency. How exactly did this system work? Taking the example of shells, did they have ...
