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Article: Money
- Article from:
- Gale Encyclopedia of U.S. Economic History
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MONEY
As trade and economies increased, barter
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the exchange of goods or services in return for other goods or services
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was replaced by money. Money is a convenient social invention used to facilitate the exchange of goods and services. Contemporary money takes the form of paper or coins made from durable metals such as nickel, copper, silver, or gold. The first uses of money, however, took a slightly different form. Early items used as money include shells, stones, cattle, and cigarettes.
What is accepted as money from one time to another may vary according to what the society accepts as its medium of exchange. Ancient agricultural societies may have placed more value in ...