Alternative Currencies

The next time you feel like complaining about the coins weighing heavily in your pockets, think about these alternative forms of currency.

The Babylonian shekel refers to a measure of barley. In ancient Greece, they used iron sticks as money. Cowry (or snail) shells paid the bills in ancient China and many parts of the South Pacific. Much of Europe used salt for currency at one time. Gold and silver coins have been used since about 560 BC. Cash crops like indigo, maize, rice, tobacco, and wheat were used for currency in colonial America. When Sydney, Australia was settled, rum was the main cash flow of the day.

Whatever form money takes, it is simply an object to which we assign value, whether it be paper, gold, or snail shells. Money matters because it gives us a common medium of exchange to buy and sell the goods and services that we need.