EAST CARIBBEAN STATES, 10 dollars (2000)

$55.00

EAST CARIBBEAN STATES, 10 dollars, no date (2000), Face: blue and black on multicolor, queen, turtle, silver ECCB medallion, Back: blue, green, and red, Admiralty Bay, boat, 2 bars & suffix “G” – Grenada, P38g, Unc

Out of stock

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Description

The East Caribbean States is an organization of regional national governments who meet to work on things that they think they can cooperate on. One of those things is a joint currency.

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.