Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar.
Matthew BoultonFRS (/ˈboʊltən/ⓘBOHL-tən; 3 September 1728 – 17 August 1809) was an English businessman, inventor, mechanical engineer, and silversmith. He was a business partner of the Scottish engineer James Watt. In the final quarter of the 18th century, the partnership installed hundreds of Boulton & Wattsteam engines, which were a great advance on the state of the art, making possible the mechanisation of factories and mills. Boulton applied modern techniques to the minting of coins, striking millions of pieces for Britain and other countries, and supplying the Royal Mint with up-to-date equipment.
Born in Birmingham, he was the son of a Birmingham manufacturer of small metal products who died when Boulton was 31. By then Boulton had managed the business for several years, and thereafter expanded it considerably, consolidating operations at the Soho Manufactory, built by him near Birmingham. At Soho, he adopted the latest techniques, branching into silver plate, ormolu ("gilt bronze") and other decorative arts. He became associated with James Watt when Watt's business partner, John Roebuck, was unable to pay a debt to Boulton, who accepted Roebuck's share of Watt's patent as settlement. He then successfully lobbied Parliament to extend Watt's patent for an additional 17 years, enabling the firm to market Watt's steam engine. The firm installed hundreds of Boulton & Watt steam engines in Britain and abroad, initially in mines and then in factories. (Full article...)
The Flowing Hair dollar was the first dollar coin issued by the United States federal government. The coin was minted in 1794 and 1795; its size and weight were based on the Spanish dollar, which was popular in trade throughout the Americas.
... that the song "Money" by the Drums was certified gold by the RIAA over a decade after its initial release?
... that according to legend, the Jain temple of Pisanhari Ki Marhia was built by a poor old woman who saved up money by milling flour?
... that in the span of three days, a Florida man was approved by bankruptcy courts to buy TV stations in Roanoke and Lynchburg, Virginia, and then arrested on charges of laundering millions in drug money?
... that even though a village said that it did not want a church, Indonesian politician Thoriqul Haq allocated land and money to build one along with a musalla?
Image 4Tibetan kong par tangka, dated 13-45 (= AD 1791),obverse (from Tibetan tangka)
Image 5Athens coin (c. 500/490-485 BC) discovered in Pushkalavati. This coin is the earliest known example of its type to be found so far east. (from Punch-marked coins)
