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.
The coin stems from the desire of the Columbian Exposition's organizers to gain federal money to complete construction of the fair. Congress granted an appropriation, and allowed it to be in the form of commemorative half dollars, which legislators and organizers believed could be sold at a premium. Fair official James Ellsworth wanted the new coin to be based on a 16th-century painting he owned by Lorenzo Lotto, reputedly of Columbus, and pushed for this through the design process. When initial sketches by Mint Chief Engraver Charles E. Barber proved unsatisfactory, fair organizers turned to a design by artist Olin Levi Warner, which after modification by Barber and his assistant, George T. Morgan, was struck by the Mint. (Full article...)
... 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 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?"
... that Russian money, known as qiang tie by locals, was used as legal currency in some regions of China for decades?
... that two hagiographic documents about St. Hunegund of France publicized Hunegund's miracles to create a sense of identity in Homblières and to raise money for the monastery?
Image 11A person counts a bundle of different Swedish banknotes. (from Money)
Image 12Athens 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 13Tibetan kong par tangka, dated 13-45 (= AD 1791),reverse (from Tibetan tangka)
Image 14Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,reverse (from Tibetan tangka)
Image 15Printing paper money at a printing press in Perm (from Money)
Image 16Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,obverse (from Tibetan tangka)
Image 17Song Dynasty Jiaozi, the world's earliest paper money (from Money)