Investing for Life
Start here to learn the history and
invention of money and credit cards on this excellent site from About.
Discover Planet Orange
open your eyes to the world of money!
Brave the desert, climb
mountains, and dodge alligators while you explore everything there is
to know about earning, spending, saving, and investing.
The history of coins in the United
States from the U.S. Mint's kids' site.
The Great Seal of the United States - click
Reserve Bank of Minneapolis The face of US currency.
Anatomy of a Bill - Click on this 1996 $100 bill
to learn all of it's parts.
Welcome to the World of Money!
History of Money the central importance of money in the
ordinary business of the life of different peoples throughout the ages
from ancient times to the present day.
Test your knowledge about
the coinage of the United States of America. Good luck!
Click here The
Cycle and History of Money when you are ready to test.
it may surprise you to
learn that no matter what the denomination; every circulating bill you
could possibly have is worth about 3 cents
apiece for the paper and the ink.
So why would
give me a crunchy cookie wrapped in delicious chocolate for a piece of
paper worth a measly three cents? One word: Trust. We all trust that
our money is worth what it says it’s worth based on the word of our
government. Yet the true value of a dollar really begins only where
perception departs from reality. While we all trust
that our money is worth something, we actually determine what that
is. By collectively setting and demanding the value of the goods we
produce or the work we do, the value of a dollar shifts. Furthermore
investors on Wall Street and around the world regularly speculate on
whether these values are going up or down and then buy or sell our
currency on the open market for profit. All together this means the
value of that dollar in
your wallet is always changing depending solely on what people think.
Money as a medium
exchange in barter and trade has always in all times found expression
in some form or other from necessity thereof. In the span of
human history people have used a
variety of commonly valued materials as currency, such as: rocks, salt,
wood, gold, silver, platinum and copper.
In the remotest
periods, before gold or silver were generally in use, it took the form
of animals, oxen, sheep, lambs, shells, etc. Thus we find used cattle
in Germany, leather in Rome, sugar in the West Indies, shells in Siam,
lead in Burmah, platinum in Russia, tin in Great Britain, iron and
nails in Scotland, brass in China, and finally copper, silver and gold
the world over.
Paper money was
developed in China in the thirteenth century and was adopted in Europe
after the return of Marco Polo. Metal coins were considered too
difficult to carry around place to place (especially if you were
wealthy). The King or the local government would allow the
treasury to accept the deposit of gold for currency notes. People
could then trade these receipts amongst each
other based on the value they had deposited. Thus, paper money was
always a proxy for some other valuable good —meaning at some point
anyone could turn your bills in and get some gold back.
The trust and the
problem with this paper money is that throughout history governments
have printed more bills than they have gold to finance wars, castles,
fancy china and suits of armor. Whenever it became clear that there was
more paper than gold, the value of
the bills would drop. Making these problems even worse was a rampant
plague of counterfeiting which occurred throughout the colonies.
The first money
in America was furnished chiefly by Great Britain and Spain, but the
limited amount, scarcity, and need of it, tempted the colony of
Massachusetts to create a small mint in this country in 1652.
There they struck some silver pieces which are known as Oak or
Pine Tree money, and are quite rare, being the first coins of American
Our Future Banking basics, savings and checking accounts,
and investing for 6-8th graders from Wells Fargo Banks. Flash
school economics lessons
Eco-Fun 31 lessons
exciting, hands-on activities and simulations teaching economics along
support for learning economics in all forms and at all levels. Head for
the idea page on how
to teach economics using the Internet.
the World Bank's web site of classroom-ready charts, maps, case
photos, and data tables -- all based on World Bank data and resources
are used to teach about social, economic, and environment issues of
Finance and Career
for Life : 6-8 Activity
Finance for Teens who want to get a head start on their
financial future. Play online games and simulations to learn
credit management, buying a car, paying for college, budgeting, saving
Job Center Check
out your salary against
a celebrity in real time. Hosted by USA today.
have just been hired in the international division
of a multinational corporation that makes consumer goods to become an
expert on other countries. Your first assignment is to prepare a report
on a country in Asia (Note: here you can name some specific
country or area of the world, if preferred). Your company is
considering building a branch plant to produce a consumer good
in this country. To get the facts, you hop on the Web and start
with the CIA Factbook
of information about all countries. After
following the links to the latest Factbook, you want to collect the
following information for your report:
- Where is the country located and what is its physical
size? Is it larger or smaller than your country?
- How many people live there? Since your company's product
is sold to adults, how many adults live there?
(Note: this could be a toy or sneaker company.)
- Compare its climate to the climate where you live. Is it
hotter? Is it dryer? What kind of crops are grown there?
- Is the government a democracy? If not, what is it? Who is
the current head of the government?
- What kind of an economy does it have:
- Primarily market-based or centrally planned?
- Is it a rich or poor country? What is the GDP per
capita? Compare this to your own country.
- What is the unemployment rate? Is unemployment a
problem in this country?
- What are the major natural resources of the country?
What are the major industries? Is there a connection between its
natural resources and the products it makes?
- What is the country's money called? How much of your
own country's money could you get for one of this
country's unit of money?
- If your company put a branch operation there, would
it be satisfied with the communications system? Do most people in
the country have telephones, for example?
- Search the web to find out more information about the
country. End your report with a recommendation to your boss about
building a new plant there.
Authors: GMD Studios (Andrew Cowan & Brian
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This site was created and is maintained by Mr. Steven