Question

Write Short Notes on Types of Metallic Money.

Answer 1

Metallic money is that money whose value of money (face-value) is greater than the commodity value (intrinsic value) of money. There are following types of metallic money:

1. Standard metallic money: Standard metallic money refers to the metallic money which is made up of pure and superior metals like gold and silver. This type of metallic money has the face value just equal to the intrinsic value(commodity value).

2. Token coins: Token coins refers to the metallic money which is made up of impure and inferior metals. This type of metallic money has the face value greater than the intrinsic value(commodity value).