Billfolds were developed after the introduction of paper currency to the West in the 1600s. (The first wafer-thin 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. Mens Wallets Early wallets were ersatz primarily of cow or horse leather and included a inconsiderable pouch for printed calling cards.

Front pocket wallet (or money clip): a case with no currency compartment and very few pockets for cards. Mainly bills are folded and held to the wallet with a metal clip.