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Currency
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Paper currency was invented to serve as a substitute for gold coins and silver coins. Its origins date way back to China over 1,000 years ago. In the early 19th century U.S. banks issued their own
bank notes. These were backed by the bank's assets, and it wasn't uncommon for them to become worthless when the bank failed. U.S. bank notes originated during the Civil War, and were eventually replaced by Federal Reserve
notes.
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Displaying 1 - 3 of 3 Subcategories
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