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Money in the World Today. Katie Tierney. Money. Is defined as “a medium that can be exchanged for goods and services and is used as a measure of their values on the market” Can also be a means of payment and measure of value. Fun Facts about Money.

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money
Money
  • Is defined as “a medium that can be exchanged for goods and services and is used as a measure of their values on the market”
  • Can also be a

means of payment

and measure of

value

fun facts about money
Fun Facts about Money
  • The US dollar is printed on a mixture of 75% cotton and 25% linen with a polyester security thread.
  • Half of the bills printed in one day are US One Dollar bills.
  • Average life span
    • 18 months = $1
    • 9 years = $100
  • Coin and paper money are only 8% of the money in the world.
history of money bartering
History of Money-Bartering
  • Bartering
    • An early market system where goods and services were exchanged
    • The goods and services were used in place of money
  • Examples
    • Almonds, coconuts, tea, rice, salt, cattle,

humans

history of money bartering1
History of Money-Bartering
  • Often superficially resembles a monetary system
    • Not very effective
  • Limited in scope and utility
    • Worth varies from person to person
history of money coinage
History of Money-Coinage
  • Jáchymov
      • Production of first coins in 1519
    • Influence on other countries
      • “Taler” Dollar, tallero, daalder, daler
history of money the birth of the dollar
History of Money-The Birth of the Dollar
  • Scotland & King James VI
  • American colonists
    • July 6th 1785—Congress
      • “the monetary unit of the United States of America be one dollar”
    • The Dollar vs. the Unit
history of money the first us coins
History of Money-The First US Coins
  • Copper Coins
    • “Mind your own business”
    • Worth one cent
    • Sun above a sundial
      • “I fly”
    • Chain of 13 linked circles
      • “We are one”
    • Built upon previous traditions
history of money p aper money
History of Money-Paper Money
  • Chinese Economy
    • Controlled by State force
      • Simple tokens
    • Transition into drawing
      • Only would have

occurred within a

great empire

history of money p aper money1
History of Money-Paper Money
  • Problems
    • Paper and printing had not been invented
    • Papyrus not strong enough
  • China
    • 1st paper made form bark of mulberry tree
    • Tang Dynasty
    • Mongol Empire
history of money p aper money2
History of Money-Paper Money
  • Solved problem of massive weight of gold
    • Fixed to the amount of money backing the paper money
    • $100 million in gold = $100 million in paper money
  • Convenient and More Efficient
money today
Money Today
  • In today’s world, money is more complex
    • International currency does not exist
  • Markets are internationally based
    • Organized through exchange rates in the Foreign Exchange Market
exchange rates
Exchange Rates
  • Fixed Rates
    • Fixed to the amount of gold/silver there is in the Treasury
  • Flexible Exchange
    • Based upon the law of supply and demand in the Foreign Exchange Market
fixed rates
Fixed Rates
  • Initially determined by the IMF
    • Value of US Dollar = $35 per ounce of gold
    • Value of British Pound = 12.5 pound per ounce of gold
      • Exchange rate set at $2.80 per pound
      • Lasted from 1948 until 1967
flexible exchange
Flexible Exchange

What is worth the Least?

What is worth the Most?

foreign currency and exchange rates
Foreign Currency and Exchange Rates
  • Demonstration on how to determine Flexible Exchange Rates
    • Ratio of currencies
  • Activity
counterfeit money
Counterfeit Money
  • How To Detect Counterfeit Money
      • Portrait
        • Real—appears lifelike and stands out distinctly from the background
        • Counterfeit—lifeless, flat, and details merge into the background which is often too dark or mottled
      • Border
        • Real—the fine lines in the border clear and unbroken
        • Counterfeit—lines in the outer margin and scrollwork may be blurred and indistinct
counterfeit money1
Counterfeit Money
  • Serial Numbers
    • Real—distinctive style, evenly spaced, printed in the same ink color as the Treasury Seal
    • Counterfeit—differ in color or shade of ink and numbers are not uniformly spaced or aligned
  • Paper
    • Real—has tiny red and blue fibers embedded within
    • Counterfeiters—printed tiny red and blue lines on the paper
works cited
Works Cited
  • A History of Money by Glyn Davies
  • Money-A History by Jonathan Williams
  • History of Money in Ancient Countries by Del Mar
  • The History of Money by Jack Weatherford
  • http://www.ustreas.gov