stacksatsio on Nostr: Coins are a rather late development in the grand scheme of money, raw metals were ...

Coins are a rather late development in the grand scheme of money, raw metals were traded by weight before that, and raw commodities before that.

If money was always on a ledger then it would not have expanded beyond individual civilisations - you don’t record on a clay tablet what the heathens who live 5 mountains away owe you and hope they return to make good.

Szabo has the most plausible account for the early history of money - moreso than both the Austrians and the Anthropologists.