Well it was used in WW II, it meant the market of buying and selling stolen military supplies. Also used in WW I, translated from the German 'Schwarzmarkt'. Another source says the phrase got its start in 1931 and meant unauthorized dealing in commodities that are rationed or of which the supply is otherwise restricted. And other's claim it got started in medieval England.   So no one knows for sure... The term Black market or Schwarzmarkt or marché noir or Mercado Negro comes from the Portuguese Mercado Preto.     It was coined after the first European traders (read Portuguese Traders :D) arrived in Africa asked to be lead to the local market to do some trading and saw this:     http://www.angola.org.uk/images/market.jpg http://cotrgallery.cotr.bc.ca/galler...od_2.sized.jpg    they were shocked since they were used to see this in Portugal:   http://baixaki.ig.com.br/imagens/wpa...madeira800.jpg http://images.google.com/url?q=http:...WRmuFtzq85Nqqg http://upload.wikimedia.org/wikipedi...al_Mercado.jpg    And thus called the pile of crap they saw in Africa  mercado :rolleyes: dos pretos  (market :rolleyes: of the ******s)( yes! quotes and :rolleyes: were included in the term ;)) the term later developed into just Mercado Preto    Later the German tourists drinking bier at Madeira learned the term and coined Schwarzmarkt    The English tourists after learning how to drink tea in Lisboa learned the term and coined Black market    The Spanish sailors after learning how to sail a Caravel in Faro learned the term and coined Mercado Negro     The French vin degustateurs after tasting the Oporto and Madeira wines and acknowledging that what they called du vin back in France was mere grape juice learned the term and coined marché noir    So ladies and gentlemen that's how the history of the term black market goes! :D    :clink