Fiat Money

Fiat money is money that derives its value from government regulation or social norms. These are objects that have no or little intrinsic use value as a…
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 11y
Wampum. "While the Native people did not use it as money, the New England colonies used it as a medium of exchange. Soon, they were trading with the native peoples of New England and New York using wampum. The New England colonies demonetized wampum in 1663.[9] Meanwhile it continued as currency in New York at the rate of eight white or four black wampum equalling one stuiver until 1673" (http://bit.ly/JrvNQB)  Also discussed on Wolman, http://bit.ly/JZcXyC, p18. American Vintage, American Art, American Crafts, Eastern Woodlands, Iroquois, North American Indians, Medicine Wheel, American Indian Jewelry, Stuffed Shells
Wampum. "While the Native people did not use it as money, the New England colonies used it as a medium of exchange. Soon, they were trading with the native peoples of New England and New York using wampum. The New England colonies demonetized wampum in 1663.[9] Meanwhile it continued as currency in New York at the rate of eight white or four black wampum equalling one stuiver until 1673" (http://bit.ly/JrvNQB) Also discussed on Wolman, http://bit.ly/JZcXyC, p18.
"In 2002, twelve member states of the European Union introduced a new currency: the Euro" (bit.ly/IOJ33m p246). Fiat Money, Bank Fees, Car Cost, Money Change, Euro Coins, Cash Machine, Local Banks, Legal Tender
The euro area
"In 2002, twelve member states of the European Union introduced a new currency: the Euro" (bit.ly/IOJ33m p246).
Equitable Labour Exchange note worth 10 hours work. "Great Britain, AD 1833. This unusual note was issued as part of a scheme set up by Robert Owen (1771-1858), the socialist reformer and philanthropist. Today he is best known for his mills at New Lanark, which were a landmark in socially responsible industry, but he also tried to establish a system of cooperative exchange based on labour value (http://bit.ly/KdvhYt). Philanthropist, Landmark, Owen, Britain, Exchange, Robert, Unusual
Equitable Labour Exchange note worth 10 hours work. "Great Britain, AD 1833. This unusual note was issued as part of a scheme set up by Robert Owen (1771-1858), the socialist reformer and philanthropist. Today he is best known for his mills at New Lanark, which were a landmark in socially responsible industry, but he also tried to establish a system of cooperative exchange based on labour value (http://bit.ly/KdvhYt).
"1950s Bridewealth banner photographed by Stan Christian. (picture source: O'Hanlon, plate 1).�  This image shows the previous importance placed on shell currency and the red Raggiana feathers as opposed to the paper currency and black Stephanie feathers used to decorate the woman for th presentation of her bridewealth" (http://bit.ly/LqF1kh). Picture Source, Image Shows, Fall Wreath, Stephanie, Feathers, Halloween Wreath, 1950s, Presentation
1950s Bridewealth banner photographed by Stan Christian
"1950s Bridewealth banner photographed by Stan Christian. (picture source: O'Hanlon, plate 1). This image shows the previous importance placed on shell currency and the red Raggiana feathers as opposed to the paper currency and black Stephanie feathers used to decorate the woman for th presentation of her bridewealth" (http://bit.ly/LqF1kh).
Stone money. "Yap is notable for its stone money, known as Rai: large doughnut-shaped, carved disks of (usually) calcite, up to 4 m (12 ft) in diameter (most are much smaller). Their value is based on both the stone's size and its history. Historically the Yapese valued the disks because the material looks like quartz, and these were the shiniest objects around. Eventually the stones became legal tender and were even mandatory in some payments." (http://bit.ly/IQZ1Xh). South Pacific, Pacific Ocean, Canoe House, Caroline Islands, Family Tree Dna, Outrigger Canoe, Federated States Of Micronesia, Island Nations, Palau
Stone money. "Yap is notable for its stone money, known as Rai: large doughnut-shaped, carved disks of (usually) calcite, up to 4 m (12 ft) in diameter (most are much smaller). Their value is based on both the stone's size and its history. Historically the Yapese valued the disks because the material looks like quartz, and these were the shiniest objects around. Eventually the stones became legal tender and were even mandatory in some payments." (http://bit.ly/IQZ1Xh).
Shell money. New Britain, Papua New Guinea (1970's). Also known as Tambu. To learn more, visit http://bit.ly/LqloZE. New Britain, The Beautiful Country, Papua New Guinea, Library, East, Shell, Png
PNGAA Library
Shell money. New Britain, Papua New Guinea (1970's). Also known as Tambu. To learn more, visit http://bit.ly/LqloZE.
Feather money. "This currency, known as tevau, is formed as coils resembling long belts. The supply is limited by the availability of the feathers used and the man-hours involved in its manufacture. It is solely used as currency. It is used to make payments to a bride's family, for purchasing pigs and large canoes" ( http://bit.ly/JajPtQ). This example was purchased in 1975. Bird Unit Study, Eastern Countries, Solomon Islands, British Museum, Canoes, Pacific, Coils
Feather money. "This currency, known as tevau, is formed as coils resembling long belts. The supply is limited by the availability of the feathers used and the man-hours involved in its manufacture. It is solely used as currency. It is used to make payments to a bride's family, for purchasing pigs and large canoes" ( http://bit.ly/JajPtQ). This example was purchased in 1975.
"Massachusetts-Bay, was the first paper money issuer in the New World, as well as the first government sponsored issuer of paper money. Paper money began being issued in 1690 as a result of a shortage of coinage in which to finance a military expedition against native Americans allied with the French in Canada" (http://bit.ly/Jq10ng). Money Paper, Coinage, Native Americans, Bank Notes, Expedition, Massachusetts, New World
scottishmoney.net
"Massachusetts-Bay, was the first paper money issuer in the New World, as well as the first government sponsored issuer of paper money. Paper money began being issued in 1690 as a result of a shortage of coinage in which to finance a military expedition against native Americans allied with the French in Canada" (http://bit.ly/Jq10ng).
"England, 7 June AD 1720. Interest-bearing Exchequer Bills were introduced in England in 1696 as a form of public borrowing: they were issued in return for money lent to the government. From the early eighteenth century the bills were accepted in payment of taxes, and could be redeemed at the Bank of England. Many carry several endorsements on the back, showing that they circulated among the public" (http://bit.ly/KrOKYi). South Sea Company, South Sea Bubble, Money Lending, Bank Of England, Redeemed, Lent, The Borrowers
"England, 7 June AD 1720. Interest-bearing Exchequer Bills were introduced in England in 1696 as a form of public borrowing: they were issued in return for money lent to the government. From the early eighteenth century the bills were accepted in payment of taxes, and could be redeemed at the Bank of England. Many carry several endorsements on the back, showing that they circulated among the public" (http://bit.ly/KrOKYi).
"This note was issued under the Ming dynasty. After seizing power from the Mongol rulers of China in 1368, the Ming rulers tried to reinstate bronze coins. However, there was not enough metal available for this, and paper money, made of mulberry bark, was produced from 1375. Paper money continued to be issued throughout the Ming dynasty, but inflation quickly eroded its value (...) It was not until the 1850s that a Chinese emperor dared to issue paper money again" (http://bit.ly/KzhhVB). Chinese Emperor, Mongol, Ming Dynasty, Art Google, Vintage World Maps, Treasures
"This note was issued under the Ming dynasty. After seizing power from the Mongol rulers of China in 1368, the Ming rulers tried to reinstate bronze coins. However, there was not enough metal available for this, and paper money, made of mulberry bark, was produced from 1375. Paper money continued to be issued throughout the Ming dynasty, but inflation quickly eroded its value (...) It was not until the 1850s that a Chinese emperor dared to issue paper money again" (http://bit.ly/KzhhVB).
Paper money. "George Washington first appeared on US $1 bills in 1869. The first Federal Reserve Bank $1 notes were issued in 1963, and the design has not changed since" (http://bit.ly/IOJ33m p14). "In 1944, representatives of the major economies of the free world anointed the U.S. dollar to become the de facto currency of the globe (...) The end of the gold standard meant that cash had become a total abstraction. Its value now comes from fiat, government mandate" (http://bit.ly/JrvNQB p20-1). Federal Reserve, George Washington, Paper Money, Bills, Dollar, Government, The Globe
Paper money. "George Washington first appeared on US $1 bills in 1869. The first Federal Reserve Bank $1 notes were issued in 1963, and the design has not changed since" (http://bit.ly/IOJ33m p14). "In 1944, representatives of the major economies of the free world anointed the U.S. dollar to become the de facto currency of the globe (...) The end of the gold standard meant that cash had become a total abstraction. Its value now comes from fiat, government mandate" (http://bit.ly/JrvNQB p20-1).
First issued in May 1987, "The Disney Dollar is the official currency of Walt Disney World Resort, Disneyland Resort, and U.S. and Puerto Rico Disney Store locations. Disney Dollars are available for purchase in 3 denominations—$1, $5 and $10—each with its own Disney Character portrait" (http://bit.ly/JPCNZk). Voyage Disney World, Disney World Resorts, Disney Vacations, Disney Trips, Walt Disney World, Disney Cruise, Disney Travel, Disneyland Resort, Dream Vacations
First issued in May 1987, "The Disney Dollar is the official currency of Walt Disney World Resort, Disneyland Resort, and U.S. and Puerto Rico Disney Store locations. Disney Dollars are available for purchase in 3 denominations—$1, $5 and $10—each with its own Disney Character portrait" (http://bit.ly/JPCNZk).