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Question
What is commodity money?
Solution
After the barter system and commodity money system, modem money systems evolved. Among these, the metallic standard is the premier one. , Under the metallic standard, some kind of metal either gold or silver is used to determine the standard value of the money and currency. Standard coins made out of metal are the principal coins used under the metallic standard. These standard coins are full-bodied or full-weighted legal tender. Their face value is equal to their intrinsic metal value.
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