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Nobody knows for sure. Its first recorded appearance in modern English denoting its current use (as a flattened money case) was in 1834.

It's likely that it came from the 14th-century Middle English word walet, a bag or knapsack, which in turn was probably borrowed directly from Old Northern French (also called the Old Norman dialect).

A number of etymologists believe that it may have been derived from the Proto-Germanic root wal-, to roll (as in a rolled-up sack), which also serves as the basis for other common words such as walk and wallow.

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Q: What is the origin of the word 'wallet'?
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