How Did Paper Money Become Common?

Paper money is like a promise. At first, people used coins made of metal, but they were heavy and hard to carry. Then, smart kings and emperors started letting people use paper notes that said how much money they had, it was lighter and easier to use. Soon, everyone wanted to use these paper notes instead of coins.

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Examples

A farmer carries a bag full of silver coins to market, but it’s so heavy he can barely walk.
The king gives a soldier a piece of paper instead of a coin for his pay, it's lighter and easier to carry.
Your friend buys candy with a $1 bill instead of coins, and it feels like magic.

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Categories: Economics · Money,History of Money,Currency