Currency money or book money, which are fiat money. Currency money Currency money is money in full circulation that takes its value from the precious metal it contains, that is, its market value is (almost) the value of the metal it contains (apart from the Seigniorage or the minters' profit), though this is always overcompensated for in coins and banknotes from a country undergoing debasement. Currency money is usually made of silver or gold, but in very rare cases plated metal and even copper may be used. Currency money is commodity money, as opposed to coins whose metal value is less than
Card money financial crisis in France. For nearly 18 months there was no official circulating currency. The Company of the Indies ran storehouses for employees. The purchase of goods required vouchers which circulated as a makeshift currency. The company began issuing card money in January 1722 with two authorizing signatures of company directors in France or local officers in Louisiana. Denominations ranged from 5 sous to 50 livres, in different shapes to be easily distinguished by non-French speaking and illiterate population. With the introduction of the company card money also came severe inflation. By 1725 both the company vouchers and cards had