Money : its origins and attributesThe word money derives from the Latin ,,moneta’’ because the first Roman coinage was minted at the tample of Juno moneta in 344. Before money people have used cattle,pigs’ teeth and other object as money. That form of money is called commodity money. For example during the collapse of the currency in the German 1945.cigarete and coffee were in the form of money.

Most of its history the money was made of precious metals,and that means that money had intrinsic value. Intrinsic value means that the item would have value even if it were not used as money. The pound sterling was originally the Roman pound of silver,and the symbol for a pound derives from the letter ,,L’’ of libra, which is the Latin for a pound.

Paper money and modern banking practice originated from the activities of goldsmiths. Goldsmiths role was to accept deposits of gold coins and precious objects in exchange for promissory note. As time went by, these notes began to act just like bank notes do today. In 1680s first banker was Francis Childs.

Flat money is money without intrinsic value that is used as money because of government decree.

Cash is very important in these days, 90% of all transactions are in cash.

The main attributes of money are:

Acceptability – the most important attribute of money is that it is readily acceptable. Durability – that is the main problem of paper money, but in modern society bank deposits haven’t had that kind of problem because there are no physical depreciation. Homogeneity - it is desirable that money should be uniform. If some coins contain 1 gram of gold while others contain 2 grams of gold, people would accumulate 2 gram coins and trade with 1 gram coins.

Divisibility -