Money was invented to address the shortcomings of the barter system. Prior to money, people had to exchange objects and services to carry out transactions. However, determining fairness and establishing agreement with an... More »

The first minted coins were produced on the order of King Alyattes of Lydia, a kingdom located in and around modern-day Turkey. Around the same time, a relatively sophisticated system of currency also evolved in China. More »

The money box, also known as a piggy bank, dates back to Ancient Greece, where the first money box was found in the 2nd century BC. These initial money boxes were shaped like small temples and had a slot for inserting mo... More » History Inventions

Though it has no intrinsic value, money acts as a universal medium of exchange that can stand in for other goods and services. In this way, money acts as a repository of surplus value. Goods are produced and exchanged fo... More »

An example of representative money is a paper check that is issued by a banking institution. The check is physically not money, but it is representative of and viewed in the same manner as money. More »

E-currency is money designed to pay for goods and services on the Internet. The “e” in e-currency stands for electronic, and the word currency represents a monetary system. More » Business & Finance Currency & Conversions

Wire money to Mexico by using a money transmitter, which is either a bank, a specialized service such as Xoom online, Western Union or Moneygram. Depending on the transmitter, options include transfers from bank account ... More » Business & Finance Currency & Conversions