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The various types of money are: Commodity Money. Fiat Money. Fiduciary Money. Commercial Bank Money. Metallic Money. Paper Money. Reserve Money.

An offense is punishable with up to 5 years in prison, a fine, or both. This prohibition arguably applies to paper money as well. Article 1, section 8, clause 5 of the U.S. Constitution gives Congress the power to coin money and regulate its value.

There are many Forms or Types of Money and in this article, we will do justice to them for clarification: Coins. Coins are some kind of precious metal made of silver, which has a reasonable amount of metallic content.Commodity money.Bank Notes.Partial money.Legal tender.Token Money.Deposit Money.Flat money.

Money serves several functions: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment.

Economists identify four main types of money commodity, fiat, fiduciary, and commercial. All are very different but have similar functions.

10 steps to creating your own local currency Start a Transition Initiative.Organise an open meeting on a topic related to money.Identify and engage your stakeholders.Set-up a management team.Decide on the model.Launch a design competition.Decide on your legal structure.Generate start-up funding.

U.S. Dollar (USD) European Euro (EUR) Japanese Yen (JPY). British Pound (GBP) Swiss Franc (CHF) Canadian Dollar (CAD) Australian/New Zealand Dollar (AUD/NZD) South African Rand (ZAR)

The following points highlight the top six functions of money. Function # 1. A Medium of Exchange:Function # 2. A Measure of Value:Function # 3. A Store of Value (Purchasing Power):Function # 4. The Basis of Credit:Function # 5. A Unit of Account:Function # 6. A Standard of Postponed Payment:

Changing currency is a complicated process that would take at least six months and probably much longer. Over the last 20 years at the International Monetary Fund, Warren Coats has advised numerous countries on how to create currencies.

The various types of money are: Commodity Money. Fiat Money. Fiduciary Money. Commercial Bank Money. Metallic Money. Paper Money. Reserve Money.