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Exact date and year of the invention of paper money is hard to determine, but it is believed that the paper money was first used in 600AD in China. Initially, they were issued locally and it was only during the reign of Song Dynasty in 960 that it came as a generally circulating mode of money.
The reason for the start of paper money can be attributed to shortage of metals, a prerequisite for coins. Coins of that era had a hole in the middle and several coins were stung together with a rope to keep them well. During those times it was quite difficult to carry so many coins as they were heavy. This heavy loads of coins lead to the invention of paper money.
Initially, paper money started in two forms. The first forms were drafts and which were receipts for the value which was held on account. The other forms were bills which were a promise that were able to be converted into money on a later date.
The reason for the start of paper money can be attributed to shortage of metals, a prerequisite for coins. Coins of that era had a hole in the middle and several coins were stung together with a rope to keep them well. During those times it was quite difficult to carry so many coins as they were heavy. This heavy loads of coins lead to the invention of paper money.
Initially, paper money started in two forms. The first forms were drafts and which were receipts for the value which was held on account. The other forms were bills which were a promise that were able to be converted into money on a later date.
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No it was not it was invented b4 that because Shi Huangdi was the man reigning china when money was invented and he reigned in 210-221 BC!!!
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