Question

what is difference between currency and money

Answer 1

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.

Answer 2

In this post we are going to look at the question of “what is the difference between currency and money?” 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.

When we talk about finances, the 3 most commonly misunderstood words are; Money, Currency and Wealth. People typically don’t understand the difference between currency and money. Many bankers and financial accountants probably do not fully understand the difference between currency and money. To understand this difference and act on that knowledge can mean the difference between creating real wealth versus living a life of struggle and mediocrity. Most people seem to think that the paper notes they carry around in their wallet or purse is real money. It certainly is not! This is what is known as currency; fiat currency.