Write a note on metallic money.

1.	Write a note on metallic money.
Answer» 1. After the barter system and commodity money system, modem money systems evolved. 2. Among these, metallic standard is the premier one. 3. Under metallic standard, some kind of metal either gold or silver is used to determine the standard value of the money and currency. 4. Standard coins made out of the metal are the principal coins used under the metallic standard. 5. These standard coins are full bodied or full weighted legal tender. 6. Their face value is equal to their intrinsic metal value.

Answer»

1. After the barter system and commodity money system, modem money systems evolved.

2. Among these, metallic standard is the premier one.

3. Under metallic standard, some kind of metal either gold or silver is used to determine the standard value of the money and currency.

4. Standard coins made out of the metal are the principal coins used under the metallic standard.

5. These standard coins are full bodied or full weighted legal tender.

6. Their face value is equal to their intrinsic metal value.

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