Question

In what ways is wampum like money today? In what ways is it different?

Answer 1

Wampum was similar to modern money because you could exchange it for goods (for example skins), but it's also different because it couldn't be preserved or borrowed as a loan. The beading was collected mainly from the beaches and everyone could have them, but the real value was represented by the belt with beading which also represented most important events for the natives.