Please Explain: The History of Money

Friday, January 11, 2008

The first coins were invented in the seventh century BC! Please Explain looks into the history of money...from the earliest lumps of metal, to modern-day virtual money. Numismatist Douglas Mudd is the curator of The American Numismatic Association's Money Museum and author of All the Money in the World.


Douglas Mudd

Comments [5]

Glenn from Manhattan

Is there a presidential candidate who is running on a platform of doing away with pennies? They're idiotic. Get rid of them. Round up or down to the next 5c already.

Seems like a great idea everyone would rally around and create a new America.

Leonard, you were obviously bored to death with this program. You could have made it more interesting for everyone including yourself.

Jan. 13 2008 11:31 AM

Using cois insteead of paper money is strictly anti-consumer. Who cares how long the coins last? They put holes in your pocket, weigh a lot more, and if you're not from the country in question, you can't figure out what the demonination is. Paper is clearly superior from the user's POV, but government bureaucrats do no care about users.

Jan. 11 2008 01:51 PM
Josh from East Village

Is the value of a nickel--in terms of its mineral content--greater than 5 cents?

Jan. 11 2008 01:51 PM
Howard Lee from Berkeley Heights NJ

I Believe Douglas Mudd is incorrect to suggest the Greeks were the first to use coins en massse. I believe it was the ancient Persians who used coins en masse first - eg the Daric coin named for Darius the Great. Darius also instituted the reforms of weights and measures necessary for the money system to take off.

Jan. 11 2008 01:48 PM

The Bush Administration is about to issue new coinage. The description can be found in the video at this url:

Jan. 11 2008 12:17 PM

Leave a Comment

Email addresses are required but never displayed.

Get the WNYC Morning Brief in your inbox.
We'll send you our top 5 stories every day, plus breaking news and weather.