Since shells (Wampum, etc) were used as money in America - "a hundred clams" became "a hundred dollars". "Shelling out" came to mean paying in coins/bills, eventually by check/card. Little did we know, we touched the very origins of our species
--@RichardDawkins (Selfish Gene)
Exploring this definition of money is one of the key tenets of “Shelling Out”
Not to mention avoiding disputes/misunderstandings can be improbable/prohibitively difficult.
Collectables as a trust-trade mechanism increased carrying capacity of humans.
-Voluntary (inheritance, mutual trade, and marriage)
-Involuntary (legal judgements and tributes)
ie: in order to spend time making beads out of mammoth bones, the collectables must be used in enough transactions to compensate for the time spent making it.
1- More secure from loss/theft (wearable + hide-able)
2- Harder to forge (unforgeable costliness)
3- Easier to assess relative value
Example: Marriages between clans (marriage is probably as old as humanity)
Hidden assets ensured “value measurement” was hard which reduced tribute (tax) burden.
Coins were high velocity money, facilitating a large number of low value trades.
More efficient markets were a (beneficial) byproduct, not the intention of coinage
Collectibles both satisfy our instinctive urges & remain useful in their ancient role as a secure SoV.
Sapiens increased carrying capacity by 10x & had time for art (cave paintings, figurines, jewelry)
In other words: Our ancestor’s invented “monetary premium” which has persisted from shells to Bitcoin.