Forms of Money

Forms of Money

• Chapter No 2

Terms to Known

• Metallic Money

• 1

• Paper Money

• 2

• Kinds of Paper Money

• 3

• Advantages & Disadvantages

• 4

Amazing Facts

• If you had 10 billion $1 notes and spent one every second of every day, it would require 317 years for you to go broke.
• There is about $823 in circulation for each person in America.
• The $100 note has been the largest denomination of currency in circulation since 1969. The largest bill ever printed was the $100,000 bill; it was actually a Gold Certificate issued in 1934. These notes were used for transactions between Federal Reserve banks and were not circulated among the general public. President Woodrow Wilson was depicted on the bill.

Dollar paper money life Span

Denomination	life
1	22 months
5	2 yeas
10	3 years
20	4 years
50	9 years
100	9 years

Metallic Money

• It consists of coins, made of gold, silver, copper or nickel.
• It varies in weight, fineness and value.
• Metallic money is in full bodied money or token money.

Full Bodied Money

• The Full bodied money is that whose face value is equal to its intrinsic value of metal.
• Govt. retains a monopoly of the issue of full bodied coins. Full bodied money also called standard Money