The History of The Money Clip

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The history of the money clip is not a very long one since the need for a money clip only arose with the invention for paper money. Paper currency was first developed in China during the 7th century due to shortage of copper. Before this time ones wealth was worn around the neck in the form of necklaces the wealthier you were the heavier the chain you wore.

This became physically uncomfortable and problematic, so the Chinese developed a system where they could leave their coins with a person of trust in return for a paper note. They could get their money back by showing the note at a later time. This practice was later discontinued and paper money didn’t come about again until 1690 in Europe. During this time England produced paper money to facilitate the movement of goods and services while waging colonial war in Canada. It was much easier to mover paper money then large amounts of heavy coins over this long distance on over water.

As paper money gained popularity the need to hold it became a necessity. The first patent for a money clip was patented on May 7 1901 by B.G Deovich for a safety holder for paper money. This clamping device held the money and also had an attached chain to secure to any convenient button much like a pocket watch. The money clip as we know it today was not invented until 1931 when L. weeks applied for the patent that we know today as the modern money clip. Before this time of money clips paper money was hap hazardously carried in pocket or in folded pieces of fabric.

There are many different metals and materials that money clips are made of today. They come in many different styles to fit anyone’s taste. Some have watches on them; some have secret compartments, some even have knives in them or flash lights. They come all metals from platinum encrusted with diamond to silver and gold and the more readily accessible stainless steel. Stain less steel is prized for its durability and low cost and is the most well known of all the materials of money clips.

Money clips can be used as an extension of ones affiliation with a particular group oddly enough the Klu Klux Klan were the first group to carry money clips to show such an affiliation now many groups carry them. They have become an extension of one’s personality they show sports teams or military affiliation. because they are so easily engraved money clips are often given as both a personal gift and a corporate gift.

Want to find out more about cheap groomsman gifts, then visit Brenda Favors’s site on how to choose the best engraved money clips for your needs.

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Article Citation
MLA Style Citation:
Favors, Brenda "The History of The Money Clip." The History of The Money Clip. 2 Feb. 2012. uberarticles.com. 22 Apr 2012 <http://uberarticles.com/wedding/wedding-favors-wedding/the-history-of-the-money-clip/>.

APA Style Citation:
Favors, B (2012, February 2). The History of The Money Clip. Retrieved April 22, 2012, from http://uberarticles.com/wedding/wedding-favors-wedding/the-history-of-the-money-clip/

Chicago Style Citation:
Favors, Brenda "The History of The Money Clip" uberarticles.com. http://uberarticles.com/wedding/wedding-favors-wedding/the-history-of-the-money-clip/

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