Ancient barter systems from "summary" of History of Money by Mike Thornton
Ancient barter systems were an important part of economic history, in which goods or services were exchanged for other goods and services. It was a form of early economic activity that predated the development of currency and set the stage for the development of more modern economic practices.- Since the dawn of time, humans have been trading goods and services to satisfy their needs. Bartering was an ancient practice used before money was invented and became a commonly accepted form of currency.
- Ancient societies primarily based their bartering systems on agricultural products such as corn, wheat, animals or land. It was seen as a more even exchange due to the lack of coins and paper bills at that time.
- Barter also allowed far away merchants to connect with one another and share in cultural exchange. Precious metal coins were embraced by both parties because they could not only be melted down for jewellery but could easily be stored and transported.
- This traditional system of trade proved harder to manage over long distances as different kinds of goods would come from vastly different cultures and countries which made it difficult to measure true value.
- Eventually, different regions began using shells, stones and other objects to represent similar values and serve as a form of currency. This universal medium gave people the opportunity to deal with traders of varied backgrounds and facilitate smoother transactions.
- Although bartering is much less common than buying and selling today, there are still some places where this primitive method of exchange prevails. Where traditional currencies are weak, bartering continues and remains the most efficient way to make deals in many rural parts of the world.
