Carrying wallets dates back to ancient times around 3000 BCE. It was used as a small pouch to protect money and forms of currency. In fact, in Ancient Greece, carrying a small bag or holder such as a wallet signified wealth and honor. Throughout history, wallets and small possession holders have changed and matriculated to accommodate the needs of the current era and their possessions.
Modern day wallets are used for many purposes, but the main reason is still the same principal from 3000 BCE. However, individuals in todays expeditious society need a place to hold more than just coins. Most need a place to situate their ready-cash, cards, and various forms of personal identification. Many accessorial developments also have been made to the modern wallet to cater to the modish community.
For many decades coin purses were simply draw-string leather pouches. They were quite small and mainly served the purpose of having available forms of payment. In addition, leather was not as readily available as it is today. The size and structure of these pouches grew after paper currency was introduced in Europe and the western world in the early 1600s. Men of wealthy background would carry these pouches of money with them when necessary.
Women were introduced to coin purses in the early 1900s. They would only carry these when they were with or accompanied by a man. Because of the societal structure, women wouldn’t spend money nor purchase anything on their own.
During the 1920s is when we first see women using small handbags and leather accessories for fashionable purposes. Influencers such as Louise Brooks and Josephine Baker were often seen with these coin pouches. They were made in various styles and an array of colors.
The size of these wallets did not grow in size until about the 1960s in the US. Thinking about economics in this country, women did not start joining the work force until around this time. Therefore, it became imperative for them, like men, to being able to carry their money and identification.
Nowadays, many people are consumers of small pouches and accessories including students and young people who need to carry forms of transit passes and identification.
Throughout the last few centuries, we see where economic developments have occurred, the structure of wallets have changed.