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
Counterfeit United States currency third to one half of the nation's currency was counterfeit. Due to this fact, counterfeit money posed a major threat to the economy and financial system in America. In accordance, the Secret Service, founded in 1865, stated its primary task to be reducing counterfeit money in circulation. The current figure of American counterfeit bills is less than .01%. Several specific examples of groups counterfeiting United States currency have also been noted. During World War II Nazi Germany successfully produced high-quality counterfeits of American dollar and Bank of England pound notes although few ever were circulated thoroughly. Superdollars, very high quality