Fiat facts & stats

Question 1

In what year did Sweden's Bank of Stockholm issue the first regular paper money in the Western world?

Accepted Answer

1661. Sweden pioneered Western paper currency in 1661, though the experiment later collapsed.

Question 2

By what year did Sweden abandon its paper money experiment and return to a silver standard?

Accepted Answer

1776. Sweden's early paper currency depreciated so badly that the country reverted to silver-backed money.

Question 3

China's Song dynasty issued 'jiaozi,' one of the earliest known paper currencies, around which century?

Accepted Answer

10th century. Chinese paper currency predates Western paper money by hundreds of years.

Question 4

In colonial New France, in what year did officials first create 'playing card money' from cut-up playing cards?

Accepted Answer

1685. Short on coins, a French colonial official improvised currency out of playing cards in 1685.

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