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
Cent (currency) Cent (currency) In many national currencies, the cent, commonly represented by the cent sign (a minuscule letter "c" crossed by a diagonal stroke or a vertical line: ¢; or a simple "c") is a monetary unit that equals of the basic monetary unit. Etymologically, the word "cent" derives from the Latin word "centum" meaning hundred. "Cent" also refers to a coin worth one cent. In the United States, the 1¢ coin is generally known by the nickname "penny", alluding to the British coin and unit of that name. In the European Union, coins designs are chosen nationally, while the reverse