Millard Numismatics 12100 W Center Rd 603 Omaha, Ne 68144. Phone No.: 402-515-7205. ryan@millardnumismatics.com The first recorded use of paper money was in the 7th century in China. However, the practice did not become widespread in Europe for. The first true banknotes from Europe were issued in Sweden in 1661. Much debate accompanied the issue, with some officials and merchants predicting paper money would. Development of the banknote began in the Tang Dynasty during the 7th century, with local issues of paper currency, although true paper money did not appear until the. Paper currency was a by-product of Chinese block-printing. used and valued. Paper money was not used in Europe until the 17th century. The history of paper money is interesting not only from the idea and technolgy of printing, but also from the perspective of trading with a commodity that in itself. Paper bills were first used by the Chinese, who started carrying folding money during the Tang Dynasty (A.D. 618-907) — mostly in the form of privately issued bills. EUROPE currency memorabilia Buy/Sell/Auction Marketplace for Buying, Selling , Trading, old, vintage collectible EUROPE, EUROPEAN banknotes Pam West, Owner of British Bank Notes, travels the world trading in British paper money. She has been a longtime director in the International Bank Note Society and. Find paper money from a vast selection of European Coins. Get great deals on eBay!.