Paper Money

banknote (often known as a bill, paper money or simply a note) is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. Along with coins, banknotes make up the cash or bearer forms of all modern money. With the exception of non-circulating high-value or precious metal commemorative issues, coins are generally used for lower valued monetary units, while banknotes are used for higher values.
Contents[hide]
1 Advantages
2 Convertibility
3 History
3.1 First banknotes in the world
3.2 Banknotes in Europe
3.3 Banknotes in the United States
4 Issue of banknotes
5 Materials used for banknotes
5.1 Paper banknotes
5.2 Durable banknote papers
5.3 Counterfeiting and security measures on paper banknotes
5.4 Polymer banknotes
5.5 Other materials
6 Vending machines and banknotes
7 Destruction
8 Paper money collecting as a hobby
8.1 Catalogs
8.2 Trades
9 See also
10 References
11 External links
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