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.
Born in Rome in 1783, Pistrucci studied briefly with other artists before striking out on his own at age 15. He became prominent as a cameo carver and was patronised by royalty. In 1815, he moved to Britain, where he would live for most of the rest of his life. His talent brought him to the attention of notables including William Wellesley-Pole, the Master of the Mint. Pole engaged Pistrucci to design new coinage, including the sovereign, which was first issued in 1817 to mixed reactions. Although Pole probably promised Pistrucci the post of Chief Engraver, the position could not be awarded as only a British subject could hold it. This slight became a long-term grievance for Pistrucci. (Full article...)
By 1916, the dime, quarter, and half dollar designed by Mint Chief Engraver Charles E. Barber had been struck for 25 years, and could be replaced by the Treasury, of which the Mint is a part, without Congressional authorization. Mint officials were under the misapprehension that the designs had to be changed, and held a competition among three sculptors, in which Barber, who had been in his position for 36 years, also took part. Weinman's designs for the dime and half dollar were selected. (Full article...)
... that the manager of WVSS at the University of Wisconsin–Stout spent about $6,000 of his own money to buy more than 500 classical music CDs to program the station?
... that Zack Kelly received a $500 signing bonus, lost money in his first professional seasons, and was released by two organizations before he made his Major League Baseball debut?
... that medievalist Edward Rand rang the doorbell of Harvard president Charles William Eliot and asked him: "I would like to go to Harvard; do you have any money?"
Image 11Song Dynasty Jiaozi, the world's earliest paper money (from Money)
Image 12A check, used as a means of converting funds in a demand deposit to cash (from Money)
Image 13Athens 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)
Image 16A 640 BC one-third staterelectrum coin from Lydia. According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins. It is thought by modern scholars that these first stamped coins were minted around 650 to 600 BC. (from Money)
Image 17Sino Tibetan silver tangka, dated 58th year of Qian Long era, obverse. Weight 5.57 g. Diameter: 30 mm (from Tibetan tangka)