Events
First Type of Currency: Made of gold and silverGold is kept in templesPre gold and silver, Cowries (used in Africa) and Wampum (used in America)First loans made by temple priestFirst coins made from Electrum (55% Gold and 45% Silver)Coins made of pure gold and silverCoinage is common throughout the Persian empireFirst Roman bronze coinsChinese coins made by molten bronze moundsFirst emperor of China creates more rational, round coinGreek introduces first depositing of moneyIn Rome debt can officially be discharged
by paying the appropriate sum into a bank.The stable currency of the Byzantine empire is a gold coin,
the solidusFrankish king Pepin III introduces a silver denarius,
or penny, which becomes the standard medieval
coin in western Europe.New monetary scale of 1:12:20 (penny:shilling:pound)
which prevails in much of EuropeShillings and pounds later become
European coins in their own right.
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