Question

what is the difference between commodity money and metallic money?

Answer 1

Commodity money is money whose value comes from a commodity of which it is made. Commodity money consists of objects that have value in themselves as well as value in their use as money.




The metallic money consists of gold coin and bullion, standard silver dollars, subsidiary silver and minor coins

Answer 2

"Difference between commodity money and metallic money is given below.

Commodity Money:

• If a money is used to buy things for the people and if the money is a valuable products or goods, it is called as commodity money.
• It is a physical item than it can be easily replaced by another item.
• Commodity money have intrinsic value. Means if it not used as money but it has a value.

Metallic Money:

• Money made of metal is called metallic money.
• It has economic advancement.
• In this money, we are using following metals namely copper, tin, bronze, nickel, lead, gold, and silver."