Trade did occur in non-monetary societies, but not among fellow villagers. Instead, it was used almost exclusively with strangers, or even enemies, where it was often accompanied by complex rituals involving trade, dance, feasting, mock fighting, or sex—and sometimes all of them intertwined. Take the indigenous Gunwinggu people of Australia, as observed by the anthropologist Ronald Berndt in the 1940s:
In England, about 30 to 40 cooperative societies sent their surplus goods to an "exchange bazaar" for direct barter in London, which later adopted a similar labour note. The British Association for Promoting Cooperative Knowledge established an "equitable labour exchange" in 1830. This was expanded as the National Equitable Labour Exchange in 1832 on Grays Inn Road in London. These efforts became the basis of the British cooperative movement of the 1840s. In 1848, the socialist and first self-designated anarchist Pierre-Joseph Proudhon postulated a system of time chits. In 1875, Karl Marx wrote of "Labor Certificates" (Arbeitszertifikaten) in his Critique of the Gotha Program of a "certificate from society that [the labourer] has furnished such and such an amount of labour", which can be used to draw "from the social stock of means of consumption as much as costs the same amount of labour."
Barter, the direct exchange of goods or services—without an intervening medium of exchange or money—either according to established rates of exchange or by bargaining. It is considered the oldest form of commerce. Barter is common among traditional societies, particularly in those communities with some developed form of market. Goods may be bartered within a group as well as between groups, although gift exchange probably accounts for most intragroup trade, particularly in small and relatively simple societies. Where barter and gift exchange coexist, the simple barter of ordinary household items or food is distinguished from ceremonial exchange (such as a potlatch), which serves purposes other than purely economic ones.
Since the 1830s, direct barter in western market economies has been aided by exchanges which frequently utilize alternative currencies based on the labor theory of value, and designed to prevent profit taking by intermediators. Examples include the Owenite socialists, the Cincinnati Time store, and more recently Ithaca HOURS (Time banking) and the LETS system.