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    Classification of Money

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    Geline Antonio
    This document classifies and describes different types of money: 1) Full-bodied money refers to coins made of precious metals like gold and silver whose value as money is equal to its value as a commodity. 2) Representative full-bodied money is usually paper money that represents and can be exchanged for an equivalent amount of gold or silver coins. 3) The document provides examples of different types of money that have been issued in the Philippines throughout history, including standard money, representative money, convertible representative money, fiat money, token coins, and credit money.

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    Classification of Money

    Uploaded by

    Geline Antonio
    23 views6 pages
    This document classifies and describes different types of money: 1) Full-bodied money refers to coins made of precious metals like gold and silver whose value as money is equal to its value as a commodity. 2) Representative full-bodied money is usually paper money that represents and can be exchanged for an equivalent amount of gold or silver coins. 3) The document provides examples of different types of money that have been issued in the Philippines throughout history, including standard money, representative money, convertible representative money, fiat money, token coins, and credit money.

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    This document classifies and describes different types of money: 1) Full-bodied money refers to coins made of precious metals like gold and silver whose value as money is equal to its value as a commodity. 2) Representative full-bodied money is usually paper money that represents and can be exchanged for an equivalent amount of gold or silver coins. 3) The document provides examples of different types of money that have been issued in the Philippines throughout history, including standard money, representative money, convertible representative money, fiat money, token coins, and credit money.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    23 views6 pages

    Classification of Money

    Uploaded by

    Geline Antonio
    This document classifies and describes different types of money: 1) Full-bodied money refers to coins made of precious metals like gold and silver whose value as money is equal to its value as a commodity. 2) Representative full-bodied money is usually paper money that represents and can be exchanged for an equivalent amount of gold or silver coins. 3) The document provides examples of different types of money that have been issued in the Philippines throughout history, including standard money, representative money, convertible representative money, fiat money, token coins, and credit money.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 6

    Classification of

    Money

    Classification of
    Money

    I.Full-bodied money
    II.Representative full-bodied
    money

    I.Full-bodied
    money
    Full-bodied money is a money whose
    value as a commodity for non-monetary
    purposes is a great as its value as money.
    The principal full-bodied money in modern
    monetary systems has been coins of the
    standard metal when a country is on a
    metallic standard: a gold standard, a
    silver standard or a bimetallic standard
    using gold and silver.

    Full-bodied coins were


    typically issued by
    governments. Three steps
    were involved:
    1. Define the gold value of the monetary
    unit.
    2. At the stipulated price, purchase all the
    metal that is offered and coin it without
    limit and virtually without charge.
    3. Permit the melting of coins to get gold for
    non-monetary uses and stand ready to
    sell the entire commodity that is
    demanded.

    II.Representative full-bodied
    money
    Representative full-bodied money is
    usually made of paper. It is in effect a
    circulating warehouse receipt for fullbodied coins or either equivalent in
    bullion.
    It represents in circulating an amount
    of metal with a commodity value
    equal to the value of the money."

    Types of Money Issued in the


    Philippines
    Types

    Money Issued

    Standard Money

    Central Banks Notes

    Representative Money

    Philippine Treasury Certificates


    1903

    Convertible Representative Money

    Philippine Treasury Certificates


    1903

    Fiat Money (Old Concepts)

    Japanese War Notes

    Fiat Money ( Current Concept)

    Bangko Sentral Notes

    Token Coins

    Metallic Coins (Php .50- Php


    10.00)

    Credit Money

    Bangko Sentral Notes

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