A Brief History of Money


Money didn’t always came from ATM ‘s, they have a long and fascinating history and have developed for thousands of years.

History shows us that money is used as a trademark and it developed in the same way and time with our society, having a clear value recognized by everybody. They also represent the method of value stocking for the future. Money allowed us to give products a clear value. Once trading has intensified, there was a bigger need for money as a trademark, therefore banks and governments started printing bills, although they didn’t contained the value they represented, as the coins once did. The issuer of this kind of money can guarantee it’s value, being known as “trust money”.

The first coins appeared in Asia 2 600 years ago. In Ancient Greece this new idea was rapidly accepted and they started making  silver and bronze coins, the silver drachma being a good example. These ancient coins had a specific quantity of metal and had a certain value. In order to  guarantee the weight, coins were marked with the king’s seal of the city or the country that made them. Coins were convenient, because they could be counted rather than weighted. They have intensified trading in the ancient world, representing trust and being an efficient trademark.

In 1867 The Latin Monetary Union reunited France, Belgium, Greece, Bulgaria and Switzerland via gold and silver coins, and in 1875 The Scandinavian Monetary Union was formed, one of the reasons these unions didn’t succeed being the variation of gold price over silver, leading to coin destabilization. The German Federation was a successful union. Until 1834, The Customs Union was finalized and after that a rate of coin exchange was fixed. After that, the single currency was born, Reichsmark, the ancestor of Deutschmark. The success was due to some clear rules that were applied for making the coins. A good numismatic collection can reach a huge value of even over 1 million dollars, it’s value depending on the number and age of the coins.

Numismatics is a very profitable investment, but this intense passion must be maintained with fresh purchases from different auctions and must be well put into value at the right time. In case of regular coin sales, the price tends to lower, while in auction cases it is the exact opposite, the price tending to grow. A good example of this kind is the sale of a ruble coin during Queen Anne of Russia, hold in an auction organized by Kunker (Berlin 2010), that was sold for the amazing price of 400.000 euro, even though it was estimated at 100.000 euro. In other cases transactions in auction houses have a minimum of fraud risk, all the pieces being tested for their genuineness and do not have the risk of being undervalued by the experts. All auction houses have a strict policy for correct estimation price. Although the market is big and enriched every day, antique stores tent do undervalue numismatic pieces for a bigger gain later on.


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