Currency money

Currency money

Currency money is money in full circulation that takes its value from the precious metal it contains, that is, its market value is (almost) the value of the metal it contains (apart from the Seigniorage or the minters' profit), though this is always overcompensated for in coins and banknotes from a country undergoing debasement. These are usually silver and gold, but in very rare cases plated metal and even copper. Currency money was commodity money, as opposed to coins, paper and paper money, which were fiat money.



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