Sunday, June 16, 2013

Paper Money - Who Invented Paper Money?

Paper money actually invented in China. For centuries Chinese people used copper coins as their primary currency but since copper is a heavy metal so they had to come up with something more convenient like paper form; light, easy to carry and most importantly safe! 
  • Usage of paper notes dates backs in 7th Century Tang Dynasty. 
  • It is believed that their paper money eventually became known as “ flying Money” 
  • Even though the paper money wasn’t very popular, in 900 – 1000, it become more useful until a cooper shortage forced merchants and Song Dynasty Government officials to issue and accept paper notes backed by gold reserves – First legal tender in the world!!!

Source: Barbara Maranzani, . N.p.. Web. 16 Jun 2013. <>.

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