History of Money and Banking Answered

When did the word money first appear: The English word money first appeared in the 14th century.

When did the use of money first begin: As early as 5000 BCE, the Sumerians, in modern-day Iraq, began to produce silver ingots to be.

When did the first banks come into existence: Around 3000 BCE, according to many scholars, some of the first banks.

When did the first coins appear: The first coins, imprinted with a turtle in relief, appeared around 700 BCE.

When was the earliest written evidence of the use of money: Laws mentioning the use of money as payment for restitution can be found in the Code of Ur-Nammu.

How old is the concept of saving: The concept of saving may go back as far as the Neolithic Period.

Click Here