Was Chocolate Used as Money? A Deep Dive into Cacao Economics

Yes, chocolate, specifically cacao beans, was indeed used as money in pre-Columbian Mesoamerica, primarily by the Maya and Aztec civilizations. Its value stemmed from its cultural significance, limited availability, and labor-intensive production, making it a practical, albeit bulky, form of exchange.

The Sweet History of Cacao Currency

Before the arrival of the Spanish conquistadors, Mesoamerica lacked a widespread coinage system like the ones found in Europe or Asia. Instead, societies relied on a complex barter system supplemented by certain commodities that held intrinsic value. Among these, cacao beans reigned supreme as a form of currency, used for both everyday transactions and larger purchases.

Cacao’s Unique Properties

Several factors contributed to cacao’s adoption as money:

• Value and Scarcity: Cacao trees require specific tropical climates to thrive. This limited their geographic availability, making cacao beans a relatively scarce and valued commodity. This scarcity was reinforced by the fact that cacao trees need several years to produce beans after planting.

• Cultural Significance: Cacao held immense cultural and religious importance. It was associated with deities, royalty, and elite rituals. This elevated status contributed to its acceptance as a medium of exchange. Cacao beans were offered to gods in rituals and were also part of life-cycle ceremonies like weddings.

• Divisibility: While not perfectly divisible like modern currency, cacao beans could be used in varying quantities for different transactions. Sacks of cacao beans were a common sight in markets. Individual beans could be used for small purchases, while larger transactions involved multiple beans or sacks.

• Storability: Properly dried and stored, cacao beans could last for a reasonable period, making them a practical, albeit not ideal, store of value. However, spoilage and insect infestation posed ongoing challenges to preserving wealth in the form of cacao.

How Cacao Was Used in Daily Life

Archaeological and historical evidence reveals cacao beans were used in a variety of ways:

• Market Transactions: Cacao beans were widely used in local markets to purchase goods such as food, pottery, clothing, and tools.
• Tribute Payments: Conquered populations often paid tribute to the ruling elite in the form of cacao beans. This demonstrates the beans’ central role in the economic and political systems of the time.
• Wage Payments: Laborers, particularly those involved in intensive tasks such as construction or agriculture, were sometimes paid in cacao beans.
• Luxury Goods: Cacao beans were also used to acquire luxury items and status symbols, such as jade ornaments and fine textiles.
• Dowries: Cacao beans were included in the dowries provided to the bride’s family.
• Counterfeiting: Yes, even cacao money had its problems! There are historical records and archaeological findings to support evidence of people attempting to pass off empty cacao shells filled with mud as real cacao beans.

Quantifying Cacao’s Value

Determining the exact exchange rate of cacao beans to other goods is challenging due to the limited surviving records and the varying economic conditions across different regions and time periods. However, historical accounts and archaeological findings offer some clues:

• Turkeys and Rabbits: Some accounts suggest that a turkey could be purchased for around 100-200 cacao beans. A rabbit might cost around 10 cacao beans.
• Labor: A day’s labor might be compensated with a certain number of cacao beans, though the amount would vary depending on the type of work and the region.
• Inflation and Deflation: Like any currency, the value of cacao beans could fluctuate depending on factors such as harvest yields and political stability. Periods of scarcity could drive up the value of cacao, while abundant harvests might lead to deflation.

The Decline of Cacao Currency

The arrival of the Spanish dramatically altered the economic landscape of Mesoamerica. The introduction of European coinage, the exploitation of silver mines, and the suppression of indigenous cultures led to the gradual decline of cacao as a primary currency. While cacao continued to be valued as a beverage and a trade good, its role as money diminished.

Even with the introduction of coins, cacao beans remained as small change because of the difficulty of coin distribution across the vast territories.

Frequently Asked Questions (FAQs) About Cacao as Money

1. Was Cacao the ONLY form of money in Mesoamerica?

No. While cacao was a prominent currency, other commodities also served as mediums of exchange. These included cotton textiles, obsidian blades, copper axes, and even feathers. However, cacao was arguably the most widely accepted and versatile form of “money.”

2. How did the Maya and Aztecs prevent counterfeiting of cacao beans?

Although challenging, efforts were made to prevent fraud. Cacao beans were often inspected for quality and authenticity. Authorities also imposed penalties on those caught counterfeiting beans, sometimes by filling empty shells with mud. Also, the beans were counted in front of the buyer and seller to avoid any suspicions or misunderstandings.

3. Did everyone have access to cacao beans, or were they reserved for the elite?

While cacao beans were used by all levels of society in market transactions, they were more readily available to the elite. The upper classes often controlled the production and distribution of cacao, using it for tribute payments, ceremonial purposes, and personal consumption. The commoners used them for small purchases.

4. What kind of cacao beans were used as currency? Were they the same as modern chocolate beans?

While the specifics may vary, it’s likely that higher quality cacao beans were preferred as currency. The beans would have been processed in various ways, including drying and potentially roasting. While related to modern chocolate beans, the varieties used in Mesoamerica were likely different from those used in modern chocolate production.

5. How were cacao beans transported and stored?

Cacao beans were typically transported in baskets or sacks. Storage methods included drying the beans thoroughly and keeping them in cool, dry places to prevent spoilage and insect infestation.

6. How did the Spanish colonizers react to cacao as a currency?

Initially, the Spanish recognized the value of cacao beans and even used them as currency alongside European coins. However, as they established their own economic systems based on silver and gold, the importance of cacao as currency diminished.

7. Was there any kind of “cacao banking” system?

Not in the modern sense of banking. However, some individuals or institutions likely accumulated and stored large quantities of cacao beans, potentially lending them out or using them to finance trade. These individuals could be looked at as proto-bankers.

8. Did the value of cacao beans fluctuate like modern currencies?

Yes. The value of cacao beans could fluctuate depending on factors such as harvest yields, political stability, and regional demand. Scarcity could drive up the price of cacao, while abundant harvests might lead to deflation.

9. Are there any surviving records of cacao bean transactions?

Yes, there are surviving historical accounts, codices, and archaeological findings that provide insights into cacao bean transactions. These sources offer valuable information about the prices of goods and services in terms of cacao beans.

10. Did different regions have different “exchange rates” for cacao beans?

Yes, it is likely that different regions had slightly different “exchange rates” for cacao beans depending on local economic conditions, availability of other goods, and political relationships.

11. How did the use of cacao as money affect the environment?

The demand for cacao beans likely led to increased cultivation of cacao trees, potentially resulting in deforestation in some areas. However, cacao cultivation was often integrated into existing agricultural systems, minimizing its environmental impact.

12. Is cacao still used as a form of currency in any parts of the world today?

While cacao is no longer a primary currency, it still holds cultural and economic significance in some indigenous communities in Mesoamerica. It may be used in local exchanges or ceremonial practices, though not as a formal currency. Cacao retains a significant place in the global economy as a key ingredient in chocolate production.