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Illustration of Money

Money

Money is a medium of exchange, a unit of account…

Reads at Grades K-2 Listens at K–3

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Just want Money?

The story

I Am Money

Have you ever held me in your hand? Sometimes I am a shiny, round circle made of metal. You can jingle me in your pocket or watch me spin on a tabletop. Other times, I am a smooth, colorful piece of paper, folded neatly inside a wallet. I might have a picture of a famous person on me. And sometimes, you can't even see me at all. I’m just a secret number on a screen when your grown-up buys something with a plastic card. With me, you can buy a scoop of your favorite chocolate chip ice cream or get that brand-new toy you've been wanting for your birthday. You can even put me in a piggy bank, listening to me clink and clank as you save up for something really special. I help people get the things they need and want. Do you know who I am? I am Money.

My story began a long, long, long time ago, before I even existed. Imagine you had a big basket of sweet, red apples, but what you really wanted was some fresh milk for your breakfast. Way back around the 9000th year BCE, people in a place called Mesopotamia had to trade. This was called bartering. You would have to find someone with a cow who also really, really wanted your apples. But what if the person with the milk wanted bananas instead? It was a very tricky problem. People needed a better way to get the things they needed. So, they started using special objects that everyone agreed were valuable. In China, around the 1200th year BCE, people decided that pretty little cowrie shells from the sea would work. They were small and easy to carry, and everyone thought they were beautiful. This was a good start, but shells could break, and it was hard to carry a whole mountain of them if you wanted to buy something big. Then, I got a fantastic makeover. In a kingdom called Lydia, around the 7th century BCE, people had a brilliant idea. They took little bits of shiny metal, stamped a picture on them, and made the very first coins. Now, everyone knew exactly what each piece was worth. A small coin could buy some bread, and a handful of bigger coins could buy a new pair of sandals. It was so much easier. But carrying lots of heavy coins in a big sack was still a workout. So, I changed again. In China, during the 7th century CE, people invented paper money. I became as light as a feather. A merchant could carry a lot of me in a small pouch. It was an amazing idea that made buying and selling easier than ever before in history.

My journey didn't stop with paper. Today, I am still those shiny coins and colorful bills, but I have some new, super-fast forms. I can be a plastic card that you swipe, tap, or dip into a machine. I can even be invisible numbers that zip from one computer to another when you buy a game or a book online. I've become faster than a race car. No matter what I look like, my job is always the same. I am a tool that helps people get what they need, like yummy food and a cozy home to live in. I also help people follow their dreams, like going to school to become a doctor or starting a new business. When you use me to buy a gift for a friend or donate to help others, I help you share your kindness with the world. I am an idea that we all share, connecting people everywhere.

Wow facts

About

Money is a medium of exchange, a unit of account, and a store of value that helps with trade and shows the value of goods and services in an economy.

First use of commodity money 9000 BCE
First metal money developed 1000 BCE
First official coins minted 600 BCE
First use of paper money 618 CE - 907 CE (circa)

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What did people in China use as a type of money before coins were invented?

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