The first paper money appeared in China in 806 AD. Before that, copper coins were in use in China - yuan weighing 3, 8 grams. It was very inconvenient to pay for large purchases with such low-value money, it was necessary to count, store, transport thousands of coins. For the purposes of large-scale trade, the emperor ordered the printing and issuance of paper notes in denominations of 10 thousand yuan. Refusal to accept paper money as payment threatened the death penalty. In the XIII-XIV centuries, the Persians adopted paper money from the Chinese, then the Japanese. The first European country to issue paper banknotes was England. In 1694, a state bank was founded, which issued "bills" in exchange for gold and silver coins. The first banknotes needed to be filled in: the bank clerk entered by hand how many coins the bank accepted and undertakes to pay the bearer on demand. The British began to issue paper money of standard denominations that did not need to be filled in by hand only in 1855.