Ottoman lira para denominations were struck in copper, the kuruş in silver and the lira in gold. The 1 para was discontinued in 1859, with the higher copper denominations ceasing production between 1863 and 1879. In 1899, billon 5 and 10 para were introduced, followed by nickel 5, 10, 20 and 40 kuruş in 1910. Gold coins continued to be minted after the abolition of the gold standard, even into the 1920s, but their value far exceeded the value of the equivalent denominations in paper currency. The central Ottoman Bank first issued paper currency Kaime in 1862, in the denomination of 200
Early American currency money during the Revolution, known as Continental currency, to fund the war effort. Both state and Continental currency depreciated rapidly, becoming practically worthless by the end of the war. This depreciation was caused by the government printing large amounts of currency in order to meet the demands of war. There were three general types of money in the colonies of British America: specie (coins), paper money and commodity money. Commodity money was used when cash (coins and paper money) was scarce. Commodities such as tobacco, beaver skins, and wampum served as money at various times and places. Cash in the