• fabianlau

Evolution of Money

Updated: Apr 8, 2020

This is not going to be a boring history lesson, I hope. It is in fact pretty interesting to know how money took its form from the ancient time till today and the impact it play on our human mind.

Metal money was evolved way back in ancient 600 BC where people used gold and silver coin as a common medium of goods and services exchange. Over the thousand decades, new money was created both in paper and metal form. Paper money was first used in China during year 960. Gradually, the shapes, sizes, designs, colours and materials has took money to a different level of creation.

In Singapore, the earlier generations would have came across the evolution of Singapore notes from the earlier Banana series, Orchid series, Bird series, Ship series till the present time Yusof Bin Ishak series.

Singapore coins had the Marine series, Flora series and presently the Singapore iconic series. Those born before the 80s would be familiar with the blue bird dollar note. It has since stopped for reproduction a decade ago and we now uses the $1 coin, which we commonly call it the “gold coin” as it used to be in full gold.

In 2013, the Singapore iconic series $1 coin was redesigned into gold on the outer circle and silver on the inner circle. Ok the engineers will correct me now, it’s brass platted and nickel platted, instead of gold and silver. Nevertheless, a $1 note or gold coin or half gold or a written $1 cheque would still bear the same money value of $1.

You may ask, does it really matter? Psychologically, yes! The form of money does affect people's illusion on money usage…. Read on next post.

#money #savings #advisory #wealthdestined #wealth #endowment #insurance #financialplanning

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