The first paper money

The first known paper money put into widespread circulation was created by the Tang Dynasty (618-907 A.D.) in China.

 

 

This 1380 Kuan note was made in China and is the oldest known bank note in existence. By 1455, after about 600 years, China abandoned its paper money experiment mainly due to hyperinflation. So many paper notes were created that they became utterly worthless.