On Yap, money takes the form of stone discs up to 3.6 m across.

1871

They are not moved; only ownership changes. One sank in transit, yet it kept being used for payment: everyone knew it was there on the seabed.

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The event

• O’Keefe and the stone money of Yap1871 · Yap. In 1871 the Irish-American David O’Keefe washed up on Yap. He began shipping huge stone discs, Yap’s money, from Palau on his own vessel, was paid in copra, and became known as the island’s “king”.

19th century

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