This is a group project (best in groups of 4 or fewer), that has students first assess three different goods that can be used as money. They must evaluate their characteristics and decide the pros/cons for each and choose the best option. I hand out pieces of paper with pictures of goods or you could use manipulatives. Items for money have ranged from tobacco leaves to cookies to cinder blocks.
Then students will create their own "money". It is important that they understand money and currency are not the same. If they choose to create a currency, they must justify why and how it will have value.