Skip to main content

History of Money

Silver has played a significant role in developing currency and the monetary system throughout history. Silver was one of the first metals to be used as currency, and it has been used as a form of money for thousands of years.

The ancient Greeks were among the first to use silver as currency, and it quickly spread to other parts of the world. In the Roman Empire, silver coins were used as a payment, often used to pay soldiers and buy goods.

In medieval Europe, silver coins were the most common form of currency, and they were used to buy everything from food to clothing to land. The development of the banking system in Europe in the 17th century further solidified silver's role as a form of currency.

Silver played a crucial role in developing the monetary system in the United States. The Coinage Act of 1792 established the US dollar as the official currency of the United States and made silver coins a legal tender. Silver continued to be used in coinage until the early 20th century, when paper money became more widespread.

Silver is still used as a currency in some countries, such as Mexico and Canada, where silver coins are still in circulation. It is also used as an investment and is often considered a haven asset during economic uncertainty.

Overall, the history of money as it pertains to silver is a long and storied one. Silver has played a crucial role in developing the monetary system from the ancient Greeks to modern-day investors and remains an important part of the global economy.

Last Updated on: 2024-03-09