The Money Portal

Euro coins and banknotes
Euro coins and banknotes
A sample picture of a fictional ATM card. The largest part of the world's money exists only as accounting numbers which are transferred between financial computers. Various plastic cards and other devices give individual consumers the power to electronically transfer such money to and from their bank accounts, without the use of currency.
A sample picture of a fictional ATM card. The largest part of the world's money exists only as accounting numbers which are transferred between financial computers. Various plastic cards and other devices give individual consumers the power to electronically transfer such money to and from their bank accounts, without the use of currency.

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Any item or verifiable record that fulfils these functions can be considered as money.

Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money, like any check or note of debt, is without use value as a physical commodity. It derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private".[better source needed] Counterfeit money can cause good money to lose its value.

The money supply of a country consists of currency (banknotes and coins) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries. (Full article...)

Selected article - show another

Formerly part of the U.S. Department of the Treasury.
Formerly part of the U.S. Department of the Treasury.

The United States Assay Commission was an agency of the United States government from 1792 to 1980. Its function was to supervise the annual testing of the gold, silver, and (in its final years) base metal coins produced by the United States Mint to ensure that they met specifications. Although some members were designated by statute, for the most part the commission, which was freshly appointed each year, consisted of prominent Americans, including numismatists. Appointment to the Assay Commission was eagerly sought after, in part because commissioners received a commemorative medal. These medals, different each year, are extremely rare, with the exception of the 1977 issue, which was sold to the general public.

The Mint Act of 1792 authorized the Assay Commission. Beginning in 1797, it met in most years at the Philadelphia Mint. Each year, the President of the United States appointed unpaid members, who would gather in Philadelphia to ensure the weight and fineness of silver and gold coins issued the previous year were to specifications. In 1971, the commission met, but for the first time had no gold or silver to test, with the end of silver coinage. Beginning in 1977, President Jimmy Carter appointed no members of the public to the commission, and in 1980, he signed legislation abolishing it. (Full article...)
List of selected articles

Selected currency - show another

1959 sovereign Elizabeth II obverse.jpg

The sovereign is a gold coin of the United Kingdom that has a nominal value of one pound sterling and contains 0.2354 troy oz of pure gold. Struck since 1817, it was originally a circulating coin that was accepted in Britain and elsewhere in the world; it is now a bullion coin and is sometimes mounted in jewellery. In addition, circulation strikes and proof examples are often collected for their numismatic value. In most recent years, it has borne the design of Saint George and the Dragon on the reverse; the initials (B P) of the designer, Benedetto Pistrucci, are visible to the right of the date.

The coin was named after the English gold sovereign, which was last minted about 1603, and originated as part of the Great Recoinage of 1816. Many in Parliament believed a one-pound coin should be issued rather than the 21-shilling guinea that was struck until that time. The Master of the Mint, William Wellesley Pole had Pistrucci design the new coin; his depiction was also used for other gold coins. Originally, the coin was unpopular because the public preferred the convenience of banknotes but paper currency of value £1 was soon limited by law. With that competition gone, the sovereign became a popular circulating coin, and was used in international trade and overseas, being trusted as a coin containing a known quantity of gold. (Full article...)

Did you know - load new batch

Related portals

Get involved

For editor resources and to collaborate with other editors on improving Wikipedia's Money-related articles, see WikiProject Numismatics.

Need help?

Do you have a question about Money-related content on Wikipedia that you can't find the answer to?

Consider asking it at the Wikipedia reference desk.

General images - show another

The following are images from various currency-related articles on Wikipedia.
  • Image 1Tibetan kong par tangka, dated 13-45 (= AD 1791),reverse (from Tibetan tangka)
    Tibetan kong par tangka, dated 13-45 (= AD 1791),reverse (from Tibetan tangka)
  • Image 2Undated Kelzang tangka (1910), obverse (from Tibetan tangka)
    Undated Kelzang tangka (1910), obverse (from Tibetan tangka)
  • Image 3Banknotes of different currencies with a face value of 5000 (from Money)
    Banknotes of different currencies with a face value of 5000 (from Money)
  • Image 4Printing paper money at a printing press in Perm (from Money)
    Printing paper money at a printing press in Perm (from Money)
  • Image 5Tibetan "gaden" Tangka, undated (ca. AD 1840), obverse (from Tibetan tangka)
    Tibetan "gaden" Tangka, undated (ca. AD 1840), obverse (from Tibetan tangka)
  • Image 6A check, used as a means of converting funds in a demand deposit to cash (from Money)
    A check, used as a means of converting funds in a demand deposit to cash (from Money)
  • Image 7"Bent bar" minted under Achaemenid administration, Gandhara, c.350 BC. (from Punch-marked coins)
    "Bent bar" minted under Achaemenid administration, Gandhara, c.350 BC. (from Punch-marked coins)
  • Image 8Tenga of Muhammad Khudayar Khan, struck at the Kokand mint, dated 1862–1863 (from Kokand tenga)
    Tenga of Muhammad Khudayar Khan, struck at the Kokand mint, dated 1862–1863 (from Kokand tenga)
  • Image 9Athens coin (c. 500/490-485 BC) discovered in Pushkalavati. This coin is the earliest known example of its type to be found so far east. (from Punch-marked coins)
    Athens coin (c. 500/490-485 BC) discovered in Pushkalavati. This coin is the earliest known example of its type to be found so far east. (from Punch-marked coins)
  • Image 10Song Dynasty Jiaozi, the world's earliest paper money (from Money)
    Song Dynasty Jiaozi, the world's earliest paper money (from Money)
  • Image 11Sino Tibetan silver tangka, dated 58th year of Qian Long era, obverse. Weight 5.57 g. Diameter: 30 mm (from Tibetan tangka)
    Sino Tibetan silver tangka, dated 58th year of Qian Long era, obverse. Weight 5.57 g. Diameter: 30 mm (from Tibetan tangka)
  • Image 12Tibetan undated silver tangka, struck in 1953/54, reverse. (from Tibetan tangka)
    Tibetan undated silver tangka, struck in 1953/54, reverse. (from Tibetan tangka)
  • Image 13Gold coins are an example of legal tender that are traded for their intrinsic value, rather than their face value. (from Money)
    Gold coins are an example of legal tender that are traded for their intrinsic value, rather than their face value. (from Money)
  • Image 14Tibetan kong par tangka, dated 13-45 (= AD 1791),obverse (from Tibetan tangka)
    Tibetan kong par tangka, dated 13-45 (= AD 1791),obverse (from Tibetan tangka)
  • Image 15A hoard of mostly Mauryan  punch-marked coins (from Punch-marked coins)
    A hoard of mostly Mauryan punch-marked coins (from Punch-marked coins)
  • Image 16Tibetan undated silver tangka, struck in 1953/54, obverse. (from Tibetan tangka)
    Tibetan undated silver tangka, struck in 1953/54, obverse. (from Tibetan tangka)
  • Image 17Paper money from different countries (from Money)
    Paper money from different countries (from Money)
  • Image 18A person counts a bundle of different Swedish banknotes. (from Money)
    A person counts a bundle of different Swedish banknotes. (from Money)
  • Image 19US dollar banknotes (from Money)
    US dollar banknotes (from Money)
  • Image 20Sino Tibetan silver tangka, dated 58th year of Qian Long era, reverse. Weight 5.57 g. Diameter: 30 mm (from Tibetan tangka)
    Sino Tibetan silver tangka, dated 58th year of Qian Long era, reverse. Weight 5.57 g. Diameter: 30 mm (from Tibetan tangka)
  • Image 21Tibetan silver tangka with Ranjana (Lantsa) script, dated 15-28 (= AD 1894), obverse (from Tibetan tangka)
    Tibetan silver tangka with Ranjana (Lantsa) script, dated 15-28 (= AD 1894), obverse (from Tibetan tangka)
  • Image 22Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,reverse (from Tibetan tangka)
    Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,reverse (from Tibetan tangka)
  • Image 23Tibetan silver tangka with Ranjana (Lantsa) script, dated 15-28 (= AD 1894), reverse (from Tibetan tangka)
    Tibetan silver tangka with Ranjana (Lantsa) script, dated 15-28 (= AD 1894), reverse (from Tibetan tangka)
  • Image 24A sample picture of a fictional ATM card. The largest part of the world's money exists only as accounting numbers which are transferred between financial computers. Various plastic cards and other devices give individual consumers the power to electronically transfer such money to and from their bank accounts, without the use of currency. (from Money)
    A sample picture of a fictional ATM card. The largest part of the world's money exists only as accounting numbers which are transferred between financial computers. Various plastic cards and other devices give individual consumers the power to electronically transfer such money to and from their bank accounts, without the use of currency. (from Money)
  • Image 25A former Finnish 10 mark banknote from 1980. President J. K. Paasikivi illustrated in a banknote. (from Money)
    A former Finnish 10 mark banknote from 1980. President J. K. Paasikivi illustrated in a banknote. (from Money)
  • Image 26Money Base, M1 and M2 in the U.S. from 1981 to 2012 (from Money)
    Money Base, M1 and M2 in the U.S. from 1981 to 2012 (from Money)
  • Image 27Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,obverse (from Tibetan tangka)
    Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,obverse (from Tibetan tangka)
  • Image 28Punch-marked coins discovered from Chandraketugarh. (from Punch-marked coins)
    Punch-marked coins discovered from Chandraketugarh. (from Punch-marked coins)
  • Image 29Undated Kelzang tangka (1910), reverse (from Tibetan tangka)
    Undated Kelzang tangka (1910), reverse (from Tibetan tangka)
  • Image 30Huizi currency, issued in 1160 (from Money)
    Huizi currency, issued in 1160 (from Money)
  • Image 31A 640 BC one-third stater electrum coin from Lydia (from Money)
    A 640 BC one-third stater electrum coin from Lydia (from Money)
  • Image 32Tibetan "gaden" Tangka, undated (ca. AD 1840), reverse (from Tibetan tangka)
    Tibetan "gaden" Tangka, undated (ca. AD 1840), reverse (from Tibetan tangka)
  • Image 33A 1914 British gold sovereign (from Money)
    A 1914 British gold sovereign (from Money)

In the news

1 June 2022 – Next Generation EU
The European Commission formally approves, by a majority vote, Poland's plan for the usage of the EU's Recovery and Resilience Facility funds. Although the money will not be immediately available for use, the plan must go through approval in the European Council, and any future funding requests in that mechanism will also be subject to the approval of other member states. The acceptance was previously withheld due to the Commission's concerns about the rule of law in the country, and in particular Poland's non-compliance with the ruling of the European Court of Justice that ordered the Disciplinary Chamber of the Supreme Court disbanded. (Rzeczpospolita) (Politico)
29 April 2022 –
The premier of the British Virgin Islands, Andrew Fahie, is arrested for alleged drug smuggling and money laundering in the United States. (BBC News)

Categories

Select [►] to view subcategories
Category puzzle
no subcategories

Topics

– By region –
– By name –
– By country –
– Historical currencies –
– Other –

Wikimedia

The following Wikimedia Foundation sister projects provide more on this subject:

Sources

More portals

Purge server cache