Token money

Token money is money whose face value exceeds its cost of production. Most modern coins used in circulation are token money, as are paper notes.

Value

Token money is also money whose face value exceeds its cost of production, i.e. the intrinsic value is lower than the extrinsic value. This means that the actual worth of a note or coin is much less than what we use it for. See fiat money and bullion. The cost of production of token money is less than its actual value.see convertable currencey,collector notes,souvenirs, coupons, some retired u.s. notes and per 1986 Notes printed in regulation size and only on one side with authorization are actually worth more $ than when issued .

See also

• Bearer instrument