Answers and an explanation for each question appear once you add this activity to your own library.

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How to use this lesson

👩‍🏫 For the teacher

Spend about 12 minutes on this quick reading activity in class.
Let learners finish the questions alone first, then check their answers using the three-step notes.

🧑‍🎓 For the learner

Read the short website article carefully from start to finish.
Next, answer the 8 questions below and find the exact words that prove your answer.

Pocket Money & Saving • Unit 3 ⏱ 12-Minute Reading

The First Banknotes

Historical illustration of heavy seventeenth century Swedish copper plate coins next to early paper banknotes issued by

In Sweden, people used big copper coins. The biggest one weighed almost 20 kilograms, so it was hard to carry. In 1661, a bank in Stockholm, Stockholms Banco, gave people paper notes. These were the first banknotes in Europe. A person could take a note to the bank and get coins for it. The notes were easier to carry than heavy copper coins. Then the bank printed too many notes. The notes lost value, people lost trust in the bank, and the bank failed. The Bank of England started in 1694 and gave out notes in return for money that people left in the bank.

📖 Words to know

copper coins:

heavy pieces of metal money made from reddish-brown copper.

banknotes:

printed pieces of paper that you can use instead of metal coins.

lost value:

became worth less money, so one note could buy fewer things.

failed:

could not stay open and had to stop doing business.

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Why this works

Look at how we talk about everyday money choices:

"It is hard to save money, but it is important to put a little in the jar every week."

Try it in class: Use this same sentence pattern to talk about Sweden's heavy coins (for example: "It was hard to carry copper coins, but it was important to buy food.").

Questions (Easy to Hard)

Every answer includes the choice, the proof words from the text, and a short explanation.

True or False

The biggest copper coin in Sweden weighed almost 20 kilograms.

____ True ____ False

True or False

The Bank of England printed the first banknotes in Europe in 1661.

____ True ____ False

Multiple Choice

Why did people prefer carrying paper notes instead of copper coins?

____ a. The paper notes were much easier to carry around. ____ b. The paper notes were made of real silver. ____ c. People were not allowed to own copper coins anymore.

Multiple Choice

What big mistake did Stockholms Banco make?

____ a. It lost all its paper notes in a river. ____ b. It printed too many paper notes. ____ c. It refused to give notes to people in Stockholm.

Matching

Match each historical fact to what happened:

Fact / Year

Bank of England

Biggest Coin

First Notes

20 kilograms

____ Bank of England ____ Biggest Coin ____ First Notes

1661

____ Bank of England ____ Biggest Coin ____ First Notes

1694

____ Bank of England ____ Biggest Coin ____ First Notes

Multiple Choice

What was the final result after people lost trust in Stockholms Banco?

____ a. The king of Sweden gave the bank more copper. ____ b. The bank started printing gold coins instead. ____ c. The bank failed and could not continue.

Short Answer • Fill in the Blank

Fill in the missing word from the text:

"The Bank of England started in 1694 and gave out notes in return for ____ that people left in the bank."

Type ONE word exactly as written in the passage.

Short Answer • Fill in the Blank

What feeling or belief did people lose in the bank right before it failed?

"The notes lost value, people lost ____ in the bank, and the bank failed."

Type ONE word from the passage that describes what people lost.

Reading: The History of Banknotes

How to use this lesson

The First Banknotes

📖 Words to know

Why this works

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