Every physical asset of some value is denoted as money. Everything has some money value. Money is something that you can carry with you or save in banks as deposit. In early time there was no concept of flat money and people were using physical commodities as money. It was known as barter system ad people used to exchange commodities against commodities. However, today is the era of flat money. Common people don’t even know about the old concept of commodity money or barter system but historians, financial experts and bankers do know about the evolution and history of money. Flat money is something broadly accepted in the society for any commodity and such money is backed by government assets. Therefore, flat or paper money is a trusted source of exchange. Some commodities that played the role of currency in early time were gold, wheat, blood etc. Here we will tell you about some facts about dollar and Cent that you have never heard before. Following are the facts.
- People used blood and bat poo as money in early time
In early times, people used different commodities as a currency including animals or bat’s poo, blood and shells. People used to buy commodities and merchandises against these things. Animal or bat’s poo and blood were considered as widely acceptable measure of exchange at that time.