Paper money started a long time ago, when people didn’t carry coins or heavy metal bars. In ancient China, instead of carrying gold all the way to market, people used pieces of paper that promised they could get gold later. It was like a promise note, and it made trading easier, just like how we use play money in games.
Examples
- A kid uses play money to buy candy at the store
- A farmer exchanges paper notes for gold coins at the market
- You take out a check from your wallet and pay for groceries
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See also
- How Did Paper Money Change the History of Commerce?
- What is debasement?
- What are paper notes?
- How Did Paper Money Change the Way We Trade?
- How Did Paper Money Become the Basis of Global Trade?