Part 6/17:
Initially, societies relied on barter—direct exchanges of goods of equivalent value. Over time, certain items emerged as more practical for trade due to their utility, durability, divisibility, and portability. These items became commodity money—like cattle, grain, or livestock—which served as stores of value and units of account.
As civilizations advanced, metals, especially gold, became the preferred medium of exchange. Metals possessed qualities vital for money: they are durable, divisible, portable, and measurable with precision, mainly because they are not perishable and can be standardized by weight and purity. Gold's qualities—scarceness, demand for industrial and ornamental purposes, and ease of measurement—established its supremacy as the ideal monetary commodity.