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The Concept:

1) The definition.

Money:

mon•ey (mŭn'ē)
n., pl. -eys or -ies.
1. A medium that can be exchanged for goods and services and is used as a measure of their values on the market, including among its forms a commodity such as gold, an officially issued coin or note, or a deposit in a checking account or other readily liquefiable account.

2. The official currency, coins, and negotiable paper notes issued by a government.

3. Assets and property considered in terms of monetary value; wealth.

4.
a. Pecuniary profit or loss: He made money on the sale of his properties.
b. One's salary; pay: It was a terrible job, but the money was good.

5. An amount of cash or credit: raised the money for the new playground.

6. Sums of money, especially of a specified nature. Often used in the plural: state tax moneys; monies set aside for research and development.

7. A wealthy person, family, or group: to come from old money; to marry into money.


2) The understanding of the concept.

Money (monies), as a term that actually refers to two concepts:

1) the abstract unit of account in terms of which the value of goods, services, and obligations can be compared;

2) and anything that is widely established as a means of payment. Frequently the standard of value also serves as a medium of exchange, but that is not always the case.


Many ancient communities, for instance, took cattle inland or sea-life if lived at the shores(fish, general seafood) as their standard of value but, in time, began to look for more manageable objects as means of payment.

Monetary Exchange became a considerable improvement over general barter, since it permits elaborate specialization locally and abroad, and gives general purchasing power presently or for such exchange in the future.

The ancient civilizations chose something that was of value to them, depending on the time and location.

Some used strong stones that could be used as tools.
People exchanged their service and talents.

“I can make this weapon for you, please give me your cow in return.”

“I can give you some of my bread I can harvest, give me your daughter in return to be my wife.”

People formed alliances based on how useful they could be to each other.

As technology advanced and metals were utilized, people began to use metals as value of exchange.


From the earliest times, something of value or what we call money were anything that could be used as tools.

Later, they were based on semi or precious metals as people learned how to utilize them.

The metals gained wide monetary (or value) use, being convenient, durable, and useful in everyday life in craft and the existing technology.

Metals have high intrinsic value commonly attached to them. The better are the qualities of the metals, the higher is value attached to them respectively.
Obvioulsy, they were stronger and provided more use than stanes and sticks.

The metal age replaced the stone age.
Metal as value or money became essential to any soceity.


That is self-evident as societies only chose what was based on usefulness and simplicity of use, which could be applied to the society as a whole.

Paper currency first appeared about 300 years ago; it was usually backed by some “standard” commodity, which had to have an intrinsic value into which it could be freely converted on demand. Please note this phrase, “freely, converted, on demand!”

We would come back to that, critical concept of how metals “became” paper and why as well of “freely on demand”


First metals used were copper and brass, because these metals were strong and useful became the tools enabling society to produce and develop craft and be able to defend and advance.

People realized quickly that metals are of the essential value to them.

Some could use the metals directly, some began to barter it in exchange what was useful to them and their ability to utilize their talents more efficiently.

Metals became vital to the survival of any tribe or group of people.

As there were constant threat of one group against the other, metals allowed developing the best weapons.
Stronger weapons able to give the edge in the warfare were one of the keys to victory.

As people always searched for ways to improve and better themselves, they discovered that iron and certain combinations and additives to/of metals could produce better weapons and meant the improvement of the
existing “technology.”

Silver and gold were discovered as much better than most of other metals out shadowing copper and brass as the former were so much stronger and allowed to make much more out of them.

Healing properties and some electromagnetic properties were discovered even though the people could not yet understand what electromagnetism was.

to be continued