Development of Money
The Development of Money
For generations the people of the Balkan Peninsula and throughout the world did business by bartering goods. Items were traded directly for items of an equal value. Then, around 600 B.C., this all changed with the development of coin money.
At first, coins were produced by merchants as a type of credit system. Over time, the local city-states took over the responsibility of manufacturing coin money. This new tool allowed their economy to explode. Goods from all over the world were shipped into the area, while other items were shipped out.