Classification of

Money

Classification of
Money

I.Full-bodied money
II.Representative full-bodied
money

I.Full-bodied
money
Full-bodied money is a money whose
value as a commodity for non-monetary
purposes is a great as its value as money.
The principal full-bodied money in modern
monetary systems has been coins of the
standard metal when a country is on a
metallic standard: a gold standard, a
silver standard or a bimetallic standard
using gold and silver.

Full-bodied coins were

typically issued by
governments. Three steps
were involved:
1. Define the gold value of the monetary
unit.
2. At the stipulated price, purchase all the
metal that is offered and coin it without
limit and virtually without charge.
3. Permit the melting of coins to get gold for
non-monetary uses and stand ready to
sell the entire commodity that is
demanded.

II.Representative full-bodied
money
Representative full-bodied money is
usually made of paper. It is in effect a
circulating warehouse receipt for fullbodied coins or either equivalent in
bullion.
It represents in circulating an amount
of metal with a commodity value
equal to the value of the money."

Types of Money Issued in the

Philippines
Types

Money Issued

Standard Money

Central Banks Notes

Representative Money

Philippine Treasury Certificates

1903

Convertible Representative Money

Philippine Treasury Certificates

1903

Fiat Money (Old Concepts)

Japanese War Notes

Fiat Money ( Current Concept)

Bangko Sentral Notes

Token Coins

Metallic Coins (Php .50- Php

10.00)

Credit Money

Bangko Sentral Notes