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410:. Token money is anything that is accepted as money, not due to its intrinsic value but instead because of custom or legal enactment. Token money costs less to produce than its face value. A banknote, e.g. a five-pound note, is token money because despite its value being 5 pounds it only costs significantly less to produce. A gold coin is not considered token money. The Token money system has been adopted in many businesses around the world as an effective way to exchange value between companies and customers. Token money as a system is predominantly used in mobile games, but is also used in the realm of e-commerce. Token money is similar to
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Token money is also money whose face value exceeds its cost of production, i.e. the intrinsic value is lower than the extrinsic value. This means that the actual worth of a note or coin is much less than what we use it for. The cost of production of token money is less than its actual value, for
446:
distinguished between tokens and commodities. In
Medieval Indian History, Mohammad Bin Tughlaq (c.1290-1351) issued copper currency called Tanka as token money whose value was legally set equal to silver coin, and is considered the world's first truly token currency.
441:
In
Ancient Greece and the Roman Empire, copper coins were used for small transactions and were issued a monetary value greater than the value of the metal itself. This established the principle of token money, which is the nature of coinage in contemporary society.
492:
example with convertible currency, collector notes, souvenirs, coupons, some retired US banknotes and per 1986 banknotes printed in regulation size and only on one side with authorization are actually worth more dollars than when issued.
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With token money, exchanges are not considered fully complete because the exchange of value is not equivalent. Value is hoped to be rendered at some future time. Examples of this include bills of exchange or
418:. The adoption of token money has improved transaction efficiency, as the practicalty of transacting with sums of gold poses a larger security risk. In a commodity economy, money is a measure of the value of
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426:. The token is also used as a medium of exchange, as a store of value, and as a unit of account. Digital currencies using decentralized
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1056:"Small change in Campania from the Fourth to the First Century BC, and the Newly Discovered Second Punic War Roman Mint of Minturnae"
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and services (prices) within a sovereign country or the same economy, as well as a particular commodity to pay off
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725:, Smart Innovation, Systems and Technologies, vol. 196, Singapore: Springer Singapore, pp. 507–514,
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that states a
Knowledge (XXG) editor's personal feelings or presents an original argument about a topic.
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488:. If the token money is metallic it is commonly made out of cheaper metals such as copper and nickel.
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This article is about the monetary concept. For physical coins that are not legal tender, see
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which also has little intrinsic value, however they differ in that token money is a limited
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719:"Token Money: A Study on Purchase and Spending Propensities in E-Commerce and Mobile Games"
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Form of money that has little intrinsic value compared to its face value
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Bird; Wirtz, Bird LLP-Johannes; Jünemann, Michael (23 May 2019).
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suggested issuing token money as long as it did not affect
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personal reflection, personal essay, or argumentative essay
591:(2nd ed.). London and New York: Routledge. p.
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10.4324/9780203208878_routledge_dictionary_of_economics
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The
Ecology of Money: Debt, Growth, and Sustainability
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Token money has less intrinsic value compared to its
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Orchard. (2017). Token. Atlanta Review, 23(2), 76–.
171:. Unsourced material may be challenged and removed.
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406:that has a lesser intrinsic value compared to its
812:"ICO: Legal Classification of Tokens | Lexology"
717:Sreekanth, N. P.; Gupta, Deepak (2020-10-30),
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334:that contextualizes different points of view.
320:to certain ideas, incidents, or controversies
91:The examples and perspective in this article
8:
71:Learn how and when to remove these messages
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480:Former tokens are collected and displayed
368:Learn how and when to remove this message
350:Learn how and when to remove this message
289:Learn how and when to remove this message
231:Learn how and when to remove this message
129:Learn how and when to remove this message
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952:. Motilal Banarsidass. pp. 33–34.
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1509:Commodity theory of money (Metallism)
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169:adding citations to reliable sources
1105:from the original on 2 January 2017
652:"Routledge Dictionary of Economics"
1019:"to say that coins are token money
865:Sargent, Thomas J (1 April 2019).
25:
1486:Akkadian standards of measurement
1054:Stannard, Clive (25 March 2022).
966:from the original on 6 April 2022
587:Routledge Dictionary of Economics
450:In the early nineteenth century,
52:This article has multiple issues.
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433:are also a form of token money.
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1172:(W. Mesoamerica & N. Andes)
1091:. Lexington Books. p. 54.
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985:Tsoukalas; Falk, B. H. (2020).
949:Principles of Money and Banking
925:from the original on 2014-01-19
895:from the original on 2018-09-13
822:from the original on 2022-04-06
783:from the original on 2021-03-19
755:from the original on 2023-10-20
676:from the original on 2023-10-20
622:from the original on 2021-04-17
156:needs additional citations for
60:or discuss these issues on the
987:"Token-Weighted Crowdsourcing"
1:
1489:
1437:List of historical currencies
1342:Central bank digital currency
840:Karimzadi, Shahzavar (2012).
1543:Standard of deferred payment
867:"Commodity and Token Monies"
731:10.1007/978-981-15-7062-9_50
915:"Definition of TOKEN MONEY"
904:Second page of web version.
105:, discuss the issue on the
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1085:Kuzminski, Adrian (2013).
844:. Routledge. p. 139.
507:Token money does not have
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29:
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1526:Quantity theory of money
1347:Chattel/movable property
777:dictionary.cambridge.org
919:www.merriam-webster.com
583:(2002). "token money".
1585:Complementary currency
1514:Credit theory of money
1474:Depository institution
1004:10.1287/mnsc.2019.3515
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269:by rewriting it in an
1568:Digital gold currency
946:Mehta, B. K. (2000).
842:Money and its Origins
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328:by rewriting it in a
1447:Coincidence of wants
1267:Representative money
1060:www.researchgate.net
874:The Economic Journal
390:Murnau am Staffelsee
384:Token money used in
165:improve this article
111:create a new article
103:improve this article
93:may not represent a
1595:Time-based currency
610:Pettinger, Tejvan.
1464:Clearinghouse bank
1152:Medium of exchange
991:Management Science
886:10.1111/ecoj.12587
880:(619): 1457–1476.
581:Rutherford, Donald
543:Numismatics portal
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456:commodity standard
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176:Find sources:
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18:Digital token
1469:Savings bank
1459:Central bank
1396:Legal tender
1322:
1303:Money portal
1107:. Retrieved
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1063:. Retrieved
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1035:. Retrieved
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968:. Retrieved
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824:. Retrieved
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785:. Retrieved
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757:, retrieved
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678:, retrieved
624:. Retrieved
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595:– via
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529:Money portal
509:free coinage
506:
502:certificates
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318:undue weight
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163:Please help
158:verification
155:
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54:Please help
51:
1421:Safekeeping
1275:Bimetallism
1190:(W. Africa)
1021:means that"
396:Token money
1531:Monetarism
1519:Chartalism
1416:Redemption
1406:Possession
1369:Clay token
1222:Trade bead
1176:Cocoa bean
1160:Commodity
1065:2022-03-25
1037:2021-03-30
1027:onnuri.org
959:8120829166
929:2021-10-27
899:2018-09-13
826:2021-03-30
787:2021-03-30
759:2021-04-09
680:2021-04-09
626:2021-04-09
567:References
486:face value
468:token coin
466:See also:
431:technology
428:blockchain
412:fiat money
408:face value
388:in German
191:newspapers
57:improve it
32:token coin
1240:(SE Asia)
1170:Axe-money
1109:2 January
970:2 January
749:228898344
221:July 2007
107:talk page
63:talk page
1612:Category
1379:Currency
1357:Clearing
1337:Banknote
1332:Bailment
1252:(Arabia)
1213:(barley)
1199:Quachtli
1103:Archived
1031:Archived
964:Archived
923:Archived
890:Archived
820:Archived
781:Archived
753:archived
688:citation
674:archived
620:Archived
515:See also
101:You may
1430:General
1384:Deposit
1374:Coinage
1246:(Hindu)
1188:Manilla
773:"token"
556:Bullion
472:voucher
437:History
324:Please
265:Please
205:scholar
1442:Barter
1401:Notary
1352:Cheque
1217:Shells
1211:Shekel
1184:(rice)
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1618:Money
1323:Token
1314:Money
1250:Camel
1162:money
893:(PDF)
870:(PDF)
745:S2CID
444:Plato
424:debts
420:goods
404:money
400:token
398:, or
316:lend
212:JSTOR
198:books
109:, or
1481:Mint
1319:Fiat
1205:Salt
1182:Koku
1111:2017
1093:ISBN
972:2017
954:ISBN
846:ISBN
735:ISBN
701:help
664:ISBN
500:and
470:and
184:news
1256:Yak
1244:Cow
999:doi
882:doi
878:129
727:doi
656:doi
593:564
167:by
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