Page 138 - Key to Social Studies 3
P. 138
In Spain, people used
“pieces of eight” until 1850, which
were coins people chopped into 8
pieces called “bits.” Today’s coins
are an alloy, or a mixture of
copper, nickel, or zinc.
Paper money was a better
option instead of carrying heavier
coins. It started in China in 806
A.D. During the 1500s, people left
their coins at the goldsmith for
safety and, in return, he gave
them a paper to say he owes them
the coins. People used this paper
to buy with. Now, there are
pressing machines that print
paper money, and each country
has its own currency to use.
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