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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...)

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  • Dynamic Intelligent Currency Encryption (DICE) is an AI-controlled security technology, which devaluates banknotes and assets remotely that have been stolen or are illegal. The cash security system that is based on identifiable banknotes, was invented and first introduced in 2014 by AI-specialised British-Austrian technology company EDAQS.The system claims that its MRC or RFID-equipped banknotes and other securities are registered to a centralized and safe system and can be considered as unforgeable, which contributes to solve cash-related problems and helps in the fight against the black economy, crime and terrorism.One of the main goals of DICE is that the whole banking and retail sector, as well as all entities with regular cash circulation will participate in this passively controlled cash system.In a second note, the DICE procedure is meant to be an alternative to the abolition of cash by offering all benefits of a cashless economy, while driving down the global crime of violently obtaining cash.Similar to the IBNS, registered DICE banknotes that have been neutralized, cannot be brought back into circulation and can be directly linked to a crime related issue. (Full article...)
    Dynamic Intelligent Currency Encryption (DICE) is an AI-controlled security technology, which devaluates banknotes and assets remotely that have been stolen or are illegal. The cash security system that is based on identifiable banknotes, was invented and first introduced in 2014 by AI-specialised British-Austrian technology company EDAQS.
    The system claims that its MRC or RFID-equipped banknotes and other securities are registered to a centralized and safe system and can be considered as unforgeable, which contributes to solve cash-related problems and helps in the fight against the black economy, crime and terrorism.
    One of the main goals of DICE is that the whole banking and retail sector, as well as all entities with regular cash circulation will participate in this passively controlled cash system.
    In a second note, the DICE procedure is meant to be an alternative to the abolition of cash by offering all benefits of a cashless economy, while driving down the global crime of violently obtaining cash.
    Similar to the IBNS, registered DICE banknotes that have been neutralized, cannot be brought back into circulation and can be directly linked to a crime related issue. (Full article...)
  • Ancient Chinese coins
    Ancient Chinese coins
  • Currency stacked in the game's "bank"
    Currency stacked in the game's "bank"
  • 1792 portrait of Matthew Boulton
    1792 portrait of Matthew Boulton
  • The Octopus card is a reusable contactless stored value smart card for making electronic payments in online or offline systems in Hong Kong. Launched in September 1997 to collect fares for the territory's mass transit system, the Octopus card system is the second contactless smart card system in the world, after the Korean Upass, and has since grown into a widely used payment system for all public transport in Hong Kong, leading to the development of Navigo card in Paris, Oyster Card in London, Opal Card in New South Wales, NETS FlashPay and EZ-Link in Singapore and many other similar systems around the world.The Octopus card has also grown to be used for payment in many retail shops in Hong Kong, including most convenience stores, supermarkets, and fast food restaurants. Other common Octopus payment applications include parking meters, car parks, petrol stations, vending machines, fee payment at public libraries and swimming pools, and more. The cards are also commonly used for non-payment purposes, such as school attendance and access control for office buildings and housing estates. (Full article...)
    The Octopus card is a reusable contactless stored value smart card for making electronic payments in online or offline systems in Hong Kong. Launched in September 1997 to collect fares for the territory's mass transit system, the Octopus card system is the second contactless smart card system in the world, after the Korean Upass, and has since grown into a widely used payment system for all public transport in Hong Kong, leading to the development of Navigo card in Paris, Oyster Card in London, Opal Card in New South Wales, NETS FlashPay and EZ-Link in Singapore and many other similar systems around the world.

    The Octopus card has also grown to be used for payment in many retail shops in Hong Kong, including most convenience stores, supermarkets, and fast food restaurants. Other common Octopus payment applications include parking meters, car parks, petrol stations, vending machines, fee payment at public libraries and swimming pools, and more. The cards are also commonly used for non-payment purposes, such as school attendance and access control for office buildings and housing estates. (Full article...)
  • .mw-parser-output .legend{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .legend-color{display:inline-block;min-width:1.25em;height:1.25em;line-height:1.25;margin:1px 0;text-align:center;border:1px solid black;background-color:transparent;color:black}.mw-parser-output .legend-text{}  Countries that use a non-US currency named dollar  Countries that formerly used a dollar currency
      Countries that use a non-US currency named dollar
      Countries that formerly used a dollar currency
  • Formerly part of the U.S. Department of the Treasury.
    Formerly part of the U.S. Department of the Treasury.
  • Foreign exchange reserves (also called forex reserves or FX reserves) are cash and other reserve assets such as gold held by a central bank or other monetary authority that are primarily available to balance payments of the country, influence the foreign exchange rate of its currency, and to maintain confidence in financial markets. Reserves are held in one or more reserve currencies, nowadays mostly the United States dollar and to a lesser extent the euro.Foreign exchange reserves assets can comprise banknotes, deposits and government securities of the reserve currency, such as bonds and treasury bills. Some countries hold a part of their reserves in gold, and special drawing rights are also considered reserve assets. Often, for convenience, the cash or securities are retained by the central bank of the reserve or other currency and the "holdings" of the foreign country are tagged or otherwise identified as belonging to the other country without them actually leaving the vault of that central bank. From time to time they may be physically moved to the home or another country. (Full article...)
    Foreign exchange reserves (also called forex reserves or FX reserves) are cash and other reserve assets such as gold held by a central bank or other monetary authority that are primarily available to balance payments of the country, influence the foreign exchange rate of its currency, and to maintain confidence in financial markets. Reserves are held in one or more reserve currencies, nowadays mostly the United States dollar and to a lesser extent the euro.

    Foreign exchange reserves assets can comprise banknotes, deposits and government securities of the reserve currency, such as bonds and treasury bills. Some countries hold a part of their reserves in gold, and special drawing rights are also considered reserve assets. Often, for convenience, the cash or securities are retained by the central bank of the reserve or other currency and the "holdings" of the foreign country are tagged or otherwise identified as belonging to the other country without them actually leaving the vault of that central bank. From time to time they may be physically moved to the home or another country. (Full article...)
  • The posthumous c. 1800 Muir portrait at the Scottish National Gallery; the work, by an unknown artist, is based on a medallion by James Tassie.
    The posthumous c. 1800 Muir portrait at the Scottish National Gallery; the work, by an unknown artist, is based on a medallion by James Tassie.
  • World map of current international currency unions
    World map of current international currency unions
  • 5th-century gold coin of King Ebana.
    5th-century gold coin of King Ebana.
  • Currency symbols of the four most widely held reserve currencies, L-R: United States dollar, Euro, Japanese Yen, Pound Sterling
    Currency symbols of the four most widely held reserve currencies, L-R: United States dollar, Euro, Japanese Yen, Pound Sterling
  • FRONT - 100 Pesos bank note of 1894 Banco Español de Puerto Rico.
    FRONT - 100 Pesos bank note of 1894 Banco Español de Puerto Rico.
  • The present value of $1,000, 100 years into the future. Curves represent constant discount rates of 2%, 3%, 5%, and 7%.
    The present value of $1,000, 100 years into the future. Curves represent constant discount rates of 2%, 3%, 5%, and 7%.
  • Cameo of Pistrucci (ca. 1850, by his daughter, Elisa)
    Cameo of Pistrucci (ca. 1850, by his daughter, Elisa)
  • The Coinage Act of 1965, Pub.L. 89–81, 79 Stat. 254, enacted July 23, 1965, eliminated silver from the circulating United States dime (ten-cent piece) and quarter dollar coins. It also reduced the silver content of the half dollar from 90 percent to 40 percent; silver in the half dollar was subsequently eliminated by a 1970 law.There had been coin shortages beginning in 1959, and the United States Bureau of the Mint expanded production to try to meet demand. The early 1960s was a time of increased use of silver both in the coinage and in industry, putting pressure on the price of silver, which was capped at just over $1.29 per ounce by government sales at that price. The silver in a dollar's worth of quarters would be worth more as bullion than as money if the price of the metal rose past $1.38 per ounce, and there was widespread hoarding of silver coins. Demand for the Kennedy half dollar as a collectable drove it from circulation after its debut in 1964. The Bureau of the Mint increased production, helping reduce the coin shortages by May 1965, but government stocks of silver were being rapidly reduced, and threatened to run out by 1968. After extensive study by the Treasury Department, President Lyndon B. Johnson in June 1965 recommended that Congress pass legislation to allow for silverless dimes and quarters, and debased silver half dollars. Although there was some opposition, mainly from legislators representing Western mining states, the bill progressed rapidly through Congress, and was enacted with Johnson's signature on July 23, 1965. (Full article...)
    The Coinage Act of 1965, Pub.L. 89–81, 79 Stat. 254, enacted July 23, 1965, eliminated silver from the circulating United States dime (ten-cent piece) and quarter dollar coins. It also reduced the silver content of the half dollar from 90 percent to 40 percent; silver in the half dollar was subsequently eliminated by a 1970 law.

    There had been coin shortages beginning in 1959, and the United States Bureau of the Mint expanded production to try to meet demand. The early 1960s was a time of increased use of silver both in the coinage and in industry, putting pressure on the price of silver, which was capped at just over $1.29 per ounce by government sales at that price. The silver in a dollar's worth of quarters would be worth more as bullion than as money if the price of the metal rose past $1.38 per ounce, and there was widespread hoarding of silver coins. Demand for the Kennedy half dollar as a collectable drove it from circulation after its debut in 1964. The Bureau of the Mint increased production, helping reduce the coin shortages by May 1965, but government stocks of silver were being rapidly reduced, and threatened to run out by 1968. After extensive study by the Treasury Department, President Lyndon B. Johnson in June 1965 recommended that Congress pass legislation to allow for silverless dimes and quarters, and debased silver half dollars. Although there was some opposition, mainly from legislators representing Western mining states, the bill progressed rapidly through Congress, and was enacted with Johnson's signature on July 23, 1965. (Full article...)
  • Australian banknotes in wallet
    Australian banknotes in wallet
  • Euro starter kits are packs of euro coins of all the eight denominations sealed in a plastic bag. The scope of these kits is primarily to familiarise the citizens of a nation that is going to join the eurozone with the new currency, the euro. Another objective is to fill up cash registers well in advance of €-Day. Usually these kits are available from the local banks some weeks before the euro changeover.Mainly there are two types of starter packs: business starter kits and kits for the general public. The difference is in the number of coins per pack. Business kits are intended for retailers, thereby they contain around 100 euro or more of coins and are normally contained in rolls, whereas the mini-starter kits are intended for the general public and usually have a small volume of coins. (Full article...)
    Euro starter kits are packs of euro coins of all the eight denominations sealed in a plastic bag. The scope of these kits is primarily to familiarise the citizens of a nation that is going to join the eurozone with the new currency, the euro. Another objective is to fill up cash registers well in advance of €-Day. Usually these kits are available from the local banks some weeks before the euro changeover.

    Mainly there are two types of starter packs: business starter kits and kits for the general public. The difference is in the number of coins per pack. Business kits are intended for retailers, thereby they contain around 100 euro or more of coins and are normally contained in rolls, whereas the mini-starter kits are intended for the general public and usually have a small volume of coins. (Full article...)
  • Coins from the game Century: Spice Road
    Coins from the game Century: Spice Road

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The following are images from various currency-related articles on Wikipedia.
  • 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.
  • Tibetan "gaden" Tangka, undated (ca. AD 1840), reverse
    Tibetan "gaden" Tangka, undated (ca. AD 1840), reverse
  • Tibetan "gaden" Tangka, undated (ca. AD 1840), obverse
    Tibetan "gaden" Tangka, undated (ca. AD 1840), obverse
  • Tibetan kong par tangka, dated 13-45 (= AD 1791),reverse
    Tibetan kong par tangka, dated 13-45 (= AD 1791),reverse
  • Tibetan silver tangka with Ranjana (Lantsa) script, dated 15-28 (= AD 1894), reverse
    Tibetan silver tangka with Ranjana (Lantsa) script, dated 15-28 (= AD 1894), reverse
  • 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.
    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.
  • Sino Tibetan silver tangka, dated 58th year of Qian Long era, obverse. Weight 5.57 g. Diameter: 30 mm
    Sino Tibetan silver tangka, dated 58th year of Qian Long era, obverse. Weight 5.57 g. Diameter: 30 mm
  • "Bent bar" minted under Achaemenid administration, Gandhara, c.350 BC.
    "Bent bar" minted under Achaemenid administration, Gandhara, c.350 BC.
  • Printing paper money at a printing press in Perm
    Printing paper money at a printing press in Perm
  • A check, used as a means of converting funds in a demand deposit to cash
    A check, used as a means of converting funds in a demand deposit to cash
  • Undated Kelzang tangka (1910), obverse
    Undated Kelzang tangka (1910), obverse
  • Banknotes of different currencies with a face value of 5000
    Banknotes of different currencies with a face value of 5000
  • US dollar banknotes
    US dollar banknotes
  • A 1914 British gold sovereign
    A 1914 British gold sovereign
  • Paper money from different countries
    Paper money from different countries
  • Money Base, M1 and M2 in the U.S. from 1981 to 2012
    Money Base, M1 and M2 in the U.S. from 1981 to 2012
  • A 640 BC one-third stater electrum coin from Lydia
    A 640 BC one-third stater electrum coin from Lydia
  • Tibetan kong par tangka, dated 13-45 (= AD 1791),obverse
    Tibetan kong par tangka, dated 13-45 (= AD 1791),obverse
  • Gold coins are an example of legal tender that are traded for their intrinsic value, rather than their face value.
    Gold coins are an example of legal tender that are traded for their intrinsic value, rather than their face value.
  • Tibetan undated silver tangka, struck in 1953/54, obverse.
    Tibetan undated silver tangka, struck in 1953/54, obverse.
  • Sino Tibetan silver tangka, dated 58th year of Qian Long era, reverse. Weight 5.57 g. Diameter: 30 mm
    Sino Tibetan silver tangka, dated 58th year of Qian Long era, reverse. Weight 5.57 g. Diameter: 30 mm
  • Tibetan undated silver tangka, struck in 1953/54, reverse.
    Tibetan undated silver tangka, struck in 1953/54, reverse.
  • Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,obverse
    Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,obverse
  • Tenga of Muhammad Khudayar Khan, struck at the Kokand mint, dated 1862–1863
    Tenga of Muhammad Khudayar Khan, struck at the Kokand mint, dated 1862–1863
  • Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,reverse
    Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,reverse
  • Huizi currency, issued in 1160
    Huizi currency, issued in 1160
  • Undated Kelzang tangka (1910), reverse
    Undated Kelzang tangka (1910), reverse
  • A person counts a bundle of different Swedish banknotes.
    A person counts a bundle of different Swedish banknotes.
  • A hoard of punch-marked coins
    A hoard of punch-marked coins
  • Tibetan silver tangka with Ranjana (Lantsa) script, dated 15-28 (= AD 1894), obverse
    Tibetan silver tangka with Ranjana (Lantsa) script, dated 15-28 (= AD 1894), obverse
  • Song Dynasty Jiaozi, the world's earliest paper money
    Song Dynasty Jiaozi, the world's earliest paper money

In the news

18 March 2021 – Malaysia–North Korea relations
North Korea's Ministry of Foreign Affairs says it will sever ties with Malaysia after a Malaysian court ruled a North Korean national, Mun Chol Myong, could be extradited to the United States to face charges of money laundering. (Reuters)

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