ARUBA, 10 florin, 1.12.2003, P16a

$25.00

ARUBA, 10 florin, 1.12.2003, Face: blue, green, and black, conch, Back: blue, green, and black, pottery motifs, P16a, Unc

Out of stock

SKU: 2004156506 Category: Tag:

Description

Aruba, along with the Netherlands Antilles, are all that remains of the former worldwide Dutch colonial empire. It is formally considered a “country”within the Kingdom of the Netherlands, and is governed as an integral part of that Kingdom. Guadeloupe has a similar relationship France, and Greenland with Denmark.

Aside from China, other governments started using circulating “banknotes” starting in the 17th century AD. The practice became general in the 19th century. In the 20th century value of paper money in circulation far surpassed the value of coinage. In the 21st century paper money is fading and credit transactions are growing.

Paper money, meaning the promise of a government to pay a set amount, and the paper promise allowed to circulate at will, was probably first used in China in the 12th century AD. At that time the merchants and governments of Europe were just writing letters to each other about what they owed.