The history of paper and leather money is that it was originally considered receipts for the storage of precious metals like gold. In fact this was the case in

The history of paper and leather money is that it was originally considered receipts for the storage of precious metals like gold. In fact this was the case in the US until the 1970s. I'm not a gold bug suggesting a return to the gold standard, just pointing out that the concept of money, value, storage and ownership can shift and be redefined over time.