In one form or another, currency has existed as a unit of purchasing power for thousands of years. Used to obtain goods or services, the materials and formats have evolved over time — but have always been a representation of value by a particular society. From bartering to livestock to physical currency to digital, there’s been a continual evolution of what people have used for payment. Let’s look at five ways money has changed throughout history.
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Cowrie shells contain many qualities that made them a perfect fit for currency. They were durable, easily identifiable, transportable and almost impossible to counterfeit — and their uniform size made them easy to count or weigh. With the expansion of use by Europeans, the shells became the primary currency used in the slave trade and were commonly used along West African trades routes. Their use reached a high point during the 18th ...
