Such is the basic difference between money and currency while money stores intrinsic value within itself, fiat currency possesses buying power bestowed upon it by the government but this was not always the case.
While money stores intrinsic value within itself, fiat currency possesses buying power bestowed upon it by the government but this was not always the case at its’ inception the dollar was backed by gold and silver, which meant that every unit of currency in circulation was redeemable in gold and silver. View foreign exchange rates and use our currency exchange rate calculator for more than 30 foreign currencies.
Before i was involved in the $120 billion precious metals industry, i, like most people, probably did not fully understand what is the difference between currency and money i have come to realise now, that understanding the difference between currency and money is the key that can unlock the door to your future wealth.
Gold silver explains that the most significant difference between money and currency is that currency does not have consistent value currency is used as a physical representation of value that changes over time and varies from one country to the next.
More: currency vs money is the 1st episode of mike maloney's hidden secrets of money, a series presented by mike maloney as. The united states issues paper currency and coins to pay for purchases, taxes, and debts paper money american paper currency is issued in several denominations : $1, $2, $5, $10, $20, $50, and $100.
Money is an intangible asset, which means it cannot be touched, it cannot be smelled however it can be seen in terms of numbers money does have a few properties such as it must be a medium of exchange a unit of account a store of value and, occasionally in the past, a standard of deferred payment currency is a tangible concept that is based on the intangible money.