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Wallet

[wol-it, waw-lit]

A wallet, or billfold, is a small, flat case used to carry personal items such as cash, credit cards and identification documents, such as a driver's license. Wallets are generally made of leather or fabrics, and they are usually pocket-sized.

History

The word "wallet" has been in use since the first century A.D. to refer to a bag or a knapsack for carrying articles. The word may derive from Proto-Germanic. The ancient Greek word kibisis, used to describe the sack carried by the god Hermes and the sack in which the mythical hero Perseus carried the decapitated head of the monster Medusa, has been typically translated as "wallet". Usage of the term "wallet" in its modern meaning of "billfold" in American English dates to 1834.

Billfolds were developed after the introduction of paper currency to the West in the 1600s. (The first paper currency was introduced in the New World by the Massachusetts Bay Colony in 1690.) Prior to the introduction of paper currency, purses (usually simple drawstring leather pouches) were used for storing coins. Early wallets were made primarily of cow or horse leather and included a small pouch for printed calling cards.

The modern bi-fold wallet with multiple "card slots" became standardized in the early 1950s with the introduction of the first credit cards. Some innovations include the introduction of the velcro-closure wallet in the 1970s.

Varieties

Wallets are usually designed to hold banknotes and credit cards and fit into a pocket (or handbag). Small cases for securing banknotes which do not have space for credit cards or identification cards may be classified as money clips.

Breast wallet (also called a "secretary wallet" or "passage wallet) are wallets in which the banknotes are not folded. They are intended for men's breast pocket in a jacket, or for a handbag. They are too large for storage in a pant (trouser) pocket.
Bi-fold wallet: a type of wallet in which the banknotes are folded over once. This has become the "standard" wallet. Credit cards and identification cards may be stored horizontally or vertically.
Tri-fold wallet: a wallet with three folds, in which credit cards are generally stored vertically.
Front pocket wallet (or money clip): a case with no currency compartment and very few pockets for cards. Usually banknotes are folded and held to the wallet with a metal clip.

Some wallets, particularly in Europe (where larger denominated coins are more prevalent) contain a coin purse compartment. Some wallets have built-in clasps or bands to keep them closed. As European banknotes(pounds, euros) are larger than American banknotes in one dimension, they don't fit in some smaller American wallets.

It is generally accepted that wallets don't hold actual coinage change - If a wallet is used to hold coins then it automatically becomes known as a purse.

Features

A wallet generally has one or more currency pockets; in some cases, there may also be a money clip. Wallets usually have one or more pockets for storing credit card or identification cards, which may be oriented vertically or horizontally.

Wallets may also have an identification pocket, which facilitates the display of a regularly-used piece of identification such as workplace ID or a bus pass, by housing it within a transparent "window". A wallet may also have photo pockets, which are designed to hold a collection of small personal photographs. A wallet may also have a small pouch for coins or keys.

Some wallets are attached to metal chains which are then clipped onto a belt, as a way of preventing loss or theft by pickpockets. Some travellers replace wallets with money belts, which are belts with a hidden money compartment.

Designers

Most major designers including Gucci, Louis Vuitton and Armani offer seasonal and perennial wallet collections of black and brown leather wallets. In the UK, wallets are made by Mulberry, Radley, Paul Smith, Ted Baker, Burberry, and Aspinal of London. In the US, designers include Guess, Perry Ellis, Kenneth Cole and Fossil. Major retailers usually sell a wide selection of men's wallets . Major retailers (such as the UK's John Lewis Partnership or Neiman Marcus in USA) usually offer branded wallets and house-name wallets. Specialist designers include Ben & Dafna, who create wallets made from duct tape in Camden Market; J Fold, that offer a large range of colourful leather wallets; Stewart-Stand, a New York design house that designs wallets made from woven stainless steel; and db clay a company based in Portland Oregon that creates unique wallets dubbed "pocket art".