Banknote

Banknote

A banknote (also known as a bill, paper money, or simply a note) is a type of currency, and is commonly used as legal tender in many jurisdictions. Together with coins, banknotes make up the cash form of all money.

History

The first banknotes were used by the Chinese during the Tang Dynasty, around the 7th century. These early banknotes were actually promissory notes that were made from leather. The practice of using paper money became common in the 11th century during the Song Dynasty.

Production and Security Features

Banknotes are usually made from a paper-like material, such as cotton or polymer substrate. They are printed in a variety of designs and colors to differentiate them from each other. Modern banknotes often incorporate several types of security features, including watermarks, security threads, and holograms to prevent counterfeiting.

Collecting

Banknote collecting, also known as notaphily, is a rapidly growing area of numismatics. Collectors, known as notaphilists, collect banknotes for their artistic value, historical significance, or rarity.

See Also

• Currency
• Coin
• Legal tender
• Promissory note
• Security feature
• Counterfeiting
• Notaphily

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