Billfolds were developed after the introduction of paper currency to the West in the 1600s. (The first paper currency was introduced in the New World by the Massachusetts Bay Colony in 1690.) Prior to the introduction of paper currency, purses (usually simple drawstring leather pouches) were used for storing coins. Early wallets were made primarily of cow or horse leather and included a small pouch for printed calling cards.
Some wallets are attached to metal chains which are then clipped onto a belt, as a way of preventing loss or theft by pickpockets. Some travellers replace wallets with money belts, which are belts with a hidden money compartment.
Other types of small bags can also serve as wallets, such as this golf tee bag which is used to hold credit cards and money
