Money - what it is, functions and essence of money, types of money, history of origin, who prints and controls them. What types of money exist

1. Commodity money (coins)- money used as a medium of exchange, as well as sold and bought as a normal commodity.
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coins - ϶ᴛᴏ ingot of metal of a special shape, weight, sample. The denominations of the coins are certified by the state.

a) full-fledged- gold and silver coins;

Money is called valuable, if the commodity from which they are made has the same value both in the sphere of circulation as money and in the sphere of accumulation as wealth. Having an intrinsic value, full-fledged money is independent neither of other types of wealth, nor of the market conditions in which they circulate. Full-fledged money includes all types of commodity money, gold and silver coins.

b) defective coins;

To worthless money includes such money, the purchasing power of which exceeds the intrinsic value of the commodity that acts as the bearer of monetary relations. The purchasing power of this money is determined solely by market conditions, while the intrinsic value of defective money has no effect on it. Defective money includes all types of post-gold money - paper and credit money.

2. paper money - they are means of payment whose value exceeds their value in alternative uses. They are representatives of gold ͵ replacing it in circulation. Paper money has no value of its own, it is a token of gold ͵ introduced by the government, which gives it a forced exchange rate. This compulsory course is valid only within the limits of the given state. The real value that paper money represents does not depend on state power, it is determined by the objective laws of money circulation. Paper money will circulate at the value of the gold money it replaces if there are as many of them issued as gold money is of the utmost importance in accordance with the law of paper money. If the issue of paper money exceeds the needs of trade in gold money, then they depreciate. There is an increase in prices.

Paper money is banknotes (bank notes). This name - bank notes - reflects the history of the emergence of these paper money. Banknotes originated in the Middle Ages and were a banker's certificate that he had received a certain amount of gold for safekeeping. The banknote indicated the amount of gold ͵ ĸᴏᴛᴏᴩᴏᴇ to be returned to the owner at his request. These bank receipts began to move independently: they were accepted for settlements. In the future, the largest (central) banks receive the right to issue banknotes. Since they eventually become the banks of governments, the state takes over the right to issue banknotes. At first, banknotes were exchanged for gold and their issue was associated with the country's gold reserves. At the beginning of the XX century. most countries in the world stop exchanging banknotes for gold, and their issuance is subject to other requirements.

Paper money also includes treasury notes . They are issued by the Ministry of Finance to cover government spending. Treasury notes have never been exchanged for gold. By the time such an exchange was carried out with respect to banknotes, there was a difference between them and treasury notes. After the exchange of banknotes for gold was discontinued, this difference disappeared.

Consequently, modern paper money performs the function of money, not because they themselves are a commodity or are backed by gold, but because the state has determined them in this role. From the standpoint of the above criterion, money is divided into commodity and decreed. Money that has its own intrinsic value is called commodity money. Modern money, which has no intrinsic value, and its value is determined from the outside, is called decreed.

3. credit money- means of circulation, which are the obligations of a private person or firm. Means that replace money. Such funds include checks, promissory notes and credit cards. Οʜᴎ are used in calculations, but on the condition that each of them has either bank accounts or cash.

Check- an order (instruction) of the owner of the bank account to transfer a certain amount in favor of the bearer of the check. The consequence of this order should be either the issuance of a cash check to the bearer, or a non-cash transfer of money from one bank account to another.

bill of exchange- a written obligation of the debtor to pay a certain amount of money within a certain period of time. The bill has details: Name; a certain payment amount; indication of the payment term; the name of the person to whom the payment should be made; place, date of drawing up the bill and signature of the person who issued it.

A bill of exchange can start independent movement if it is transferred from one owner to another by means of a special endorsement - endorsement. The bill can be transferred to the bank, having received (with a certain discount) the debt before the date indicated on the bill. In case of refusal to pay, the owner of the bill of exchange files a lawsuit and the amount specified in the bill is collected in court from the person who issued the bill.

Consequently, for the existence of bill circulation in the country, it is extremely important to have legislation on the movement of bills, an appropriate judicial mechanism, and a developed banking system.

4. Bank accounts (or deposit money)- this is a kind of means of displaying and controlling the state and movement of funds (deposits) of the owner of the money, who transferred them to the bank. Accounts are divided into perpetual and urgent. Funds from a perpetual account (demand account, current account) can be received by their owner at any time. Term accounts become available to depositors, that is, they can receive money from them, only after a certain time.

5. Electronic money - this is the same deposit money, the use of which is based on electronic engineering(COMPUTER). It makes it possible to transfer money and register information about their movement in a paperless way. Οʜᴎ, in fact, is not an independent form of money.

There are several technologies that ensure the functioning of electronic money. The "automated settlement fee" technology is a network of banks connected by one computer center. The "automated cashier" technology helps to perform such operations without human intervention: receiving cash, making deposits, transferring money from one account to another.

Forms of money

The forms of money are connected with the function of money as a means of circulation. There are two main forms of money:

1. cash- paper signs and change coins;

2. cashless money. Non-cash money is different in specifics.

Features of non-cash cash payments are manifested in the following:

a) the payer and the recipient transferring the cash participate in cash settlements. There are three participants in non-cash cash settlements: the payer, the recipient and the bank in which such settlements are carried out in the form of entries on the accounts of the payer and the recipient;

b) participants of non-cash money transactions are in credit relations with the bank. These relationships are manifested in the amounts of balances on the accounts of participants in such settlements. There are no such credit relations in cash circulation.

Types of money - concept and types. Classification and features of the category "Types of money" 2017, 2018.

As you know, it is a historical category. They appeared at a certain stage in the development of society. Therefore, when analyzing the types and forms of money, as a rule, the results of their evolution, differentiation of the content of public works performed by functions are considered. At the same time, the classification of forms and types of money is interpreted by various economists ambiguously and seems debatable. A number of authors consider full-fledged (real money) as a classification feature of the forms of money, which, in turn, are divided into the following types: gold and silver bars, gold and silver coins, gems and defective money, which are divided into the following types: money substitutes (central bank notes, coins, treasury bills, funds on demand accounts in banks) and money surrogates (checks, bills of exchange, electronic money). A number of other authors, classifying money, subdivide them according to their natural and functional characteristics and distinguish three main types of money: commodity money (commoditymoney), full money (full- bodiesmoney), fiat money (fiatmoney). Within the framework of the type of money, monetary forms are distinguished. For example, ingots, coins, banknotes with full or partial coverage are considered to be the main forms of valuable money. Fiat money includes paper, deposit (bills, checks, plastic cards, etc.) and electronic money.

Some economists distinguish types of money according to different features. So, in the historical aspect, they distinguish between full-fledged metallic and defective money. Depending on the form, cash (banknotes, coins and treasury notes) and non-cash money are distinguished, which exist in the form of records in bank accounts (mainly in electronic form).

The modern interpretation of the concept of money excludes the commodity nature of money. So, in the new economic encyclopedia, the following definition of money is given: “Money (money) - an instrument of economic relations in society, which is:

• measure of value;
• medium of exchange;
• convenient form of savings;
• means of payment and acting in the form

Of course, this definition is correct for modern money. At the same time, another definition of money, which determines the evolution of the development of money and money circulation, cannot be denied.

Money - a special commodity, spontaneously separated from the world of commodities, serves as a universal equivalent and represents, according to K. Marx's definition, "the crystallization of exchange value." The essence of money as an economic category finds expression in the unity of its three properties: universal direct exchangeability, an independent form of exchange value, and an external material measure of labor.

Based on the above definitions, we will accept the following classification of types and forms of money (Table 3.1).

Table 3.1. Classification of types and forms of money

Forms of money

Money is a historical category that develops at every stage of commodity production. In its development, money acted in two forms: real money and signs of value(substitutes for real money). Each species had several forms (Fig. 1.3).

Rice. 1.3. Forms of money

The form of money it is a form of exchange value embodied in a certain type of universal equivalent (monetary asset).

- this is money, in which the nominal value indicated on them corresponds to the real value, i.e. the value of the metal from which they are made. These included goods-equivalents and metallic money.

(copper, silver, gold) had a different form: weight and piece. Gold was originally used in natural form and taken into account by weight. Native money existed in the form of gold dust and nuggets. A more developed form of metallic money is specially made bullion (plates, ingots, ingots, bars, hryvnias) and curly (rings, bracelets) money. Yes, in Ancient Egypt a system of money-rings of different weights was used, which eliminated the need to weigh them when paying for goods.

For calculations with ingots, they were weighed on a scale, and it often became necessary to divide the ingots into smaller parts. Making metal money into coins occurred gradually. The need for a universal settlement equivalent led to the emergence already in the VIII century. BC. standardized ingots with guaranteed weight and composition; some ingots had notches that made them easy to cut into pieces.

The basis of the original monetary form of money was bean-shaped ingots or ovals of a strictly defined mass. The first gold coins are attributed to the sailor Lydia Gyges (7th century BC). The coins were identical in weight, size and composition of alloys. Gradually, they acquired a convenient for production and use about round shape. The word "coin" first appeared in Rome in 279 BC. from one of the nicknames of the goddess Juno (Juno Moneta - Juno Warning). At the temple of Juno on the Capitoline Hill in Rome there was a mint of the state in the ancient period. The coins differed from traditional ingots in smaller sizes, as well as in the guarantee of their solvency and basic parameters from the state (the mass of the metal and its sample were certified by the state stamp). Coins - more developed form metal money. Coins introduced one of the most important innovations into money circulation and money account - they were in circulation not by weight, but by face value, i.e. in accordance with the amount of metal that is indicated on them.

Coins of later stages of monetary circulation have statutory features — appearance and weight content. Most coins are round. The front side of the coin is called the obverse, the reverse side is called the reverse, and the edge is called the edge.

During the period from 1816 to 1900, most countries switched to the gold coin standard, in which the main monetary unit of the state was minted as a full-fledged and freely circulating gold coin. Its face value was determined by the value of the contained gold.

Metal money made from precious metals has its own intrinsic value, therefore it circulates as a commodity that plays the role of a universal equivalent. The appearance of signs of value at the stage of development of monetary circulation was caused by an objective necessity:

1. With the constant expansion of trade, gold mining could not be expanded in a similar way. Coin circulation required a large consumption of precious metals - gold and silver. Their accumulation in the country depended on the level of extraction of these metals, the state of trade with other countries, which ensured the influx or circulation of coins. The possibility of one state or another to expand monetary circulation was limited. At the same time, with the development of social production and commodity-money relations, the sale of an increasing mass of goods and services required, accordingly, a larger amount of money and, as a result, precious metals;

2. The circulation of gold coins is associated with high costs of maintaining the monetary system, which include the following costs:

• • for gold mining and coinage;
  • for the transportation and storage of coins;
  • to withdraw worn-out coins from circulation and replace them with new (full-fledged) ones.

Losses from erasing coins were significant. So, in the 80s of the XIX century. countries that had gold circulation lost 700-800 kg of gold annually. The natural physical wear and tear of the coins was often supplemented by their deliberate damage, which led to a decrease in the mass of the monetary metal, which is an element of national wealth, and this necessitated the withdrawal of underweight coins from circulation and their replacement;

3. as trade expands, not only the total amount of cash payments increases, but their one-time (single) size. With the increase in the size of the payment, one of the significant shortcomings of monetary circulation is revealed - the portability of metallic money, inadequate to the scale of payments, which led to significant costs associated with the movement of a significant mass of metal in the form of coins for making monetary payments;

4. monetary circulation did not have the necessary elasticity, i.e. the ability to rapidly expand and contract in accordance with the changing needs of commodity circulation;

5. the manufacture of coins from gold and silver limited the consumption of these metals in industrial production and for other purposes;

6. The circulation of money in the form of coins made of gold, silver, copper allowed the state to derive income from the monopoly right to mint coins - monetary regalia. Reducing the fineness and weight of the metal in a coin, with its nominal value unchanged, was a common way to obtain additional share premium and replenish the state treasury.

The above factors associated with monetary circulation determined the appearance and entry into the channels of monetary circulation of signs of value. Substitutes for real money - value signs - these are paper, credit money and small billon coins made from special monetary alloys; this is money, the nominal (face-to-face) value of which is higher than their actual value, i.e. social labor costs for their production.

Paper money do not have independent value; the state assigns them a forced rate, and thus they have a representative value. On this basis, paper money performs the function of a purchasing and means of payment. The issuer of paper money is the state, either directly through the Treasury or indirectly through central bank(in this case, government lending is carried out). By issuing paper money into circulation, the state provides itself with the issuance income - the difference between the nominal value of the issued paper money and the cost of their issue. The purpose of the issue is to finance the state, cover the budget deficit.

The history of the emergence of paper money, or signs of value, is associated with the use of leather money. In the 1st century BC. In China, money appeared from the skins of white deer. Since all the white deer belonged to the emperor, only he could decide on the manufacture of these banknotes. The first paper money as such, like paper, was also made in China. Historical evidence of the existence of such money is presented in the XIII century. Italian traveler Marco Polo. Paper money was printed during the Yuan Dynasty, they were the main means of money circulation. In North America and Western Europe, paper money (banknotes) began to be issued in the 17th-18th centuries.

In Russia, the issue of paper money (banknotes) first began in 1769. Banknotes were used to pay salaries to civil servants, government food purchases. In order to organize the circulation of banknotes, a special State Assignment Bank was created. Later, other forms of paper money were issued - tickets of the state treasury, state signs. Traditionally, the issue of paper money increases during wars, economic crises, social conflicts, when high expenditures of financial resources are required from the state. An example is the issuance of money to cover the budget deficit in the form of loans from the Central Bank of the Russian Federation to the Government of the Russian Federation.

Paper money is inherently unstable and depreciates easily. Reasons for the instability of paper money:

• they are practically devoid of intrinsic value and cannot function as a treasure. Consequently, there is no mechanism for the withdrawal of excess paper money from the channels of monetary circulation in the form of the formation of treasures;
• the existence of the possibility of excess issuance into circulation;
• a decline in trust in government;
• unfavorable balance of payments of the country.

Associated with the development of commodity production, when the purchase and sale is carried out with installments or deferred payment (on credit). Credit money arises from the production and circulation of capital when money capital assumes the form of credit money. There are several varieties of credit money, the systemic characteristics of which are shown in Fig. 1.4.

Rice. 1.4. Varieties of credit money

IOUs were the first debt instruments used as a means of payment, which formed the basis for the subsequent circulation of bills of exchange. Depository receipts were used as substitutes for real money in metallic monetary systems, when coins made of precious metals were deposited with a bank or a depository cash desk, and in return the owner received a depository receipt exchanged for full-fledged coins.

Promissory note - this is a written obligation of the debtor (promissory note) or an order from the creditor to the debtor (bill of exchange) to pay the amount indicated in it after a certain period. The bill is characterized by the following features:

• abstractness - separated from the transaction that underlies it;
• indisputability - obligatory payment under the bill is realized with the help of the protest mechanism of the bill.

The presence of such features determines the performance of the bill of exchange under certain conditions of payment functions. The transfer of a bill as a means of payment is carried out with the help of an endorsement inscription - endorsement. Additional contact options arise when there is acceptance of a bill(written consent for payment) and aval(guarantee for a bill).

But the bill as a means of payment has a limited use, because:

• the amounts of bills, the terms of payments on them do not always meet the needs of the payment turnover;
• a bill serves, as a rule, only wholesale trade, since it has a large bill amount;
• a limited circle of participants who are confident in the solvency of persons liable for each specific bill is involved in the circulation of bills.

The legal basis of bill circulation at present is the Geneva bill of exchange conventions of 1930 and the Law of the Russian Federation of March 11, 1997 "On a bill of exchange and a promissory note".

Money is a developing category and since its inception has undergone significant changes, manifested in the transition from the use of some types of money to others, as well as in changing the conditions for their functioning and in increasing their role.

In certain areas of money circulation and in different periods, under certain conditions, apply different kinds of money.

Types of money:

• Complete:
  • commodity money;
  • metal money;
• Defective:
  • Paper money;
  • Credit money.

Full money- money, in which the nominal value (the value indicated on them) is equal to the real value of this money, that is, the cost of their production costs.

Defective- money, the nominal value of which is greater than the real. Their purchasing power exceeds the cost of their production. So, the first kind of money is commodity money.

In ancient times, the only way to get what you want without resorting to force or theft was barter, that is, the exchange of goods without intermediaries (in our time, when exchanging goods, money is considered an intermediary). Suppose some settlement had a large grain harvest in one year, and they exchanged this grain for metal received by people from a neighboring settlement. And everything seems to be fine. But it may happen that the neighbors do not need so much grain, and then the grain will not be in demand and will disappear. And if there are not two parties to the exchange, but more, and each party with its own product. It will be almost impossible to make an exchange.

The inconvenience of barter exchange has led to the emergence of intermediaries capable of satisfying a wide range of requests. These intermediaries were grain and livestock. This is how commodity money was born.

metal money

Metal money or coins (copper, silver, gold) were made different shapes: at first there were piece, then weight. Later, the coin began to have distinctive features established by the state: the appearance of the coin, its weight. The most convenient in circulation was the round shape of the coin, its front side was called - obverse, reverse side - reverse, edge - edge.

The first round coins appeared in Lydia, back in the 7th century BC, in what is now Turkey. They were made of electrum (a type of gold with a high content of silver). From Lydia, coinage quickly spread to Greece. Each coin had an image of the patron god of the city. Somewhere in the middle of the 5th century BC, coins were brought to a single standard and were minted only from silver and gold. This was done to facilitate trading and to more accurately determine the value of a coin. On each coin there were symbols indicating the place of production.

Greek monetary culture has had a huge impact on modern money. It was the Greeks who were the first to engrave images of living people on coins. After the conquests of Alexander the Great, the technology of minting using two molds for obverse and reverse spread to all territories subject to him. On the basis of this technology, coins of Rome and later began to be minted. Western Europe. AT Kievan Rus the first minted coins appeared in the 9th and 10th centuries. Zlatniks - gold coins, and silver coins - silver coins were in circulation at the same time.

Gold coins became very popular. Completely, the countries switched to gold circulation in the middle of the 19th century. Great Britain was the leader among these countries. As you know, she had great amount colonies and dominions, so Britain ranked first in gold mining. The reasons for the transition to gold circulation were the properties of the noble metal:

• Uniformity in quality;
• Divisibility and connectability without losing their properties;
• Large concentration of value;
• Persistence;
• The complexity of mining and processing.

The properties of gold made this metal the most suitable for fulfilling the purpose of money. But gold circulation did not last long in the world. After the First World War, the demonetization of gold began - the process of the gradual loss of the functions of money by gold. Gold was a competitor to the dollar, so the US tried to abolish gold as the basis of the world monetary system. After World War II, the US set the exchange rate for foreign central banks, at which the dollar was exchanged for gold. This strengthened the global position of the dollar. In the 70s, at the Jamaica Conference, a decision was made to exclude gold from circulation.

Paper money

Paper money is the most important discovery of mankind. The method of producing paper money combined both of these discoveries. The first paper money appeared in China as early as the 800s of our era. It was very difficult to transport metal coins over long distances, so the government thought about creating paper money. It began to pay merchants not with coins, but with special certificates that were easily exchanged for "hard" money. These certificates depicted people, trees, officials put their signatures and seals. Paper money was most likely brought to the west by travelers returning from China. They appeared in Russia in 1769.

Paper money is very easy to handle. Compared to coins, they are easier to store and convenient for payments. This money is issued by the state. Paper money is protected by special signs such as watermarks, various color schemes, etc. This is done to protect public money. It is very difficult to counterfeit such money.

Paper money has two functions: a medium of exchange and a means of payment. They cannot be exchanged for gold, so they do not go out of circulation. Sometimes, the state, experiencing a lack of funds, issues more and more paper money. But this can be dangerous if you do not take into account the commodity turnover in the country. As a result, paper money "gets stuck" in circulation, and their depreciation occurs.

So, the essence of paper money lies in the fact that they are issued by the state, are not exchanged for gold, and are endowed with a certain course.

loan money

Credit money arises when the purchase and sale is made on credit. Their appearance is associated with the function of money as a means of payment, where Money is an obligation that must be repaid after a predetermined period with real money. At the very beginning of the development of credit money, their goal was: to save paper and metal money; promote the development of credit relations.

Gradually, with the development of capitalist commodity-money relations, the essence of credit money changes. Credit money developed gradually: bill of exchange, accepted bill, banknote, check, electronic money, credit cards.

bill of exchange- a written unconditional obligation of the debtor to pay a certain amount after a certain period of time at a specified place. There is a promissory note issued by the debtor, and a bill of exchange issued by the creditor and sent to the debtor for signature with return to the creditor.

To date, there are treasury bills issued by the state to cover the budget deficit and cash gap. Friendly bills drawn by one person to another for the purpose of accounting for them in a bank.

The bill is characterized by the following features:

• negotiability, i.e. transfer of a bill as a means of payment to other creditors, which creates the possibility of mutual offset of bill obligations;
• there is no information about the transaction on the document;
• bill payment is required.

A bill has certain limits of circulation:

• used by people who are well aware of each other's financial situation;
• serves mainly wholesale trade;
• is repaid between the participants of the bill circulation in cash.

In Russia, commercial, banking, treasury bills and other types of it operate in various areas.
A commercial bill of exchange is issued against the security of goods. A bank bill is issued by the issuing bank if there is a certain amount of the client on deposit. Unlike a commercial bank bill, in its Russian version it has a deposit form. This is essentially a simple promissory note, as it is issued by a bank client to his supplier in payment for goods, but can be endorsed to a third party. A bank bill gives the company a new means of payment guaranteed by the bank.

banknote money issued by the central bank. They began to be produced in the 17th century. Unlike a bill of exchange, a banknote means an indefinite debt obligation, secured by a guarantee from the central bank, which in many countries is state-owned. Central banks of countries issue banknotes of a certain type and size. Banknotes are national money in the territory of a given country. For the manufacture of banknotes, special paper is used, and measures are also taken to protect banknotes from counterfeiting.

A banknote enters circulation at the moment when banks provide loans to the state and when exchanging foreign currency for banknotes of a given country. Banknotes cannot be exchanged for gold.

Check- document certain form, which contains an order from the legal owner of the account to pay the bearer of this check the amount indicated on it. The circulation of such checks is called check. The following persons take part in the check circulation: the account holder, the person taking a loan from the account owner, that is, his creditor, and the payer on this check, most often a bank or other credit institution.

Checks first appeared in England around the 16th century. Over time, the credit system began to develop, therefore, checks became widespread.

There are three main types of checks:

• Nominal- to an individual who does not have the right to transfer the check to anyone;
• bearer- a check that does not indicate the name of the recipient;
• order- issued to a specific person who has the right to transfer to another person.

Basically, checks are used to receive cash paper money, in a bank or in another credit institution. most not complicated operation is a settlement between clients of the same bank; in settlements between clients of different banks, checks are taken into account by the clearing house. Bank checks are also used, mainly in international payments. They make commercial payments.

In 1992, the Regulations on checks were adopted in Russia. It defined the rules of check circulation. A special Check Syndicate was created, uniting the largest commercial banks. The procedure for receiving a check is as follows: the client enters into an agreement with a certain bank that is part of the syndicate, pays the bank the amount for which the account is opened, and receives a checkbook.

Electronic money

In connection with the expansion of check circulation in the second half of the 20th century, new forms of payment began to be required. Thanks to scientific and technological progress and the development of computer technology, it became possible to create automated electronic installations for processing checks. These electronic devices and the ability to transmit signals over a distance without paper forms contributed to the emergence of electronic money.

What is electronic money for? Such money, like any other, is needed to fulfill the function of money as a means of payment. That is, you can pay with paper money, or you can use electronic money.

Ease of use - Electronic money is very easy to use. Exist a large number of payment systems that cash out electronic money. We will talk about them later. But one thing is important: today, working with these systems is so simple that even a child could probably cash out.

Electronic money is very convenient to use. Currently, most of the interbank transactions are carried out with their help. And all this on a global level. Already more than two hundred countries conduct electronic payments, and electronic money is in circulation. This suggests that electronic money has gained confidence in itself.

Electronic payments

There are many electronic systems payments that make electronic payments. These payments are very convenient.

Most people in Russia already use these e-wallets. With the help of electronic payments, a person can pay for mobile communications for himself and for my family, satellite TV, Internet access, utility bills and much more. Of course, such electronic money differs from ordinary ones, but you can buy everything with them the same as with ordinary ones. Of course, all these payments (well, almost all) are made via the Internet.

But the whole power of electronic money is not only in this. They allow you to make instant transfers between individuals at any time and anywhere, with a minimum commission.

Thanks to the development of electronic payments, people can not only communicate at a distance, but also make real money transactions. So people can work from home, send their work over the Internet, and receive wages through payment systems. Agree, it's convenient! This phenomenon is becoming widespread. In Russia, the development of payment systems is even faster than in the West. But it is worth mentioning the disadvantages of electronic payments. For their implementation requires access to the Internet, and cheap mobile communications.

Sources of information:

• bibliotekar.ru - Types of money;
• fingramm.ru - What are the types of money;
• money.banks-credits.ru - Link to the article "Types of money".

Cash - money that has a material form, face value, the transfer is carried out from hand to hand and does not require additional documents.

Non-cash money - money in bank accounts owned by individuals or legal entities. Operations with this money are carried out by the bank on behalf of the client. The Central Bank organizes non-cash money circulation and establishes the forms of payment documents.

AT Russian Federation forms of payment documents are regulated by Regulation No. 2-P of the Bank of Russia "On non-cash payments in the Russian Federation".

Coin (Coin) - an ingot of metal (gold, silver, copper, etc.), which has a weight content and form established by law and is a means of circulation and payment. The weight of the metal in the coin and its fineness are certified by the state stamp.

The coin, as a rule, has a round shape and it distinguishes front side- obverse, reverse - reverse and edge - edge.

Types of coins:
A high-grade coin is a coin containing a precious metal in an amount corresponding to its face value and minting value.

Defective coin - a coin, the nominal value of which exceeds the value of the metal contained in it and the value of minting. The difference between the nominal value of the coin and the value of the metal, together with the cost of minting, received by the treasury (state) in the form of profit, is called seigniorage. AT different times governments resorted to seigniorage different countries to cover government spending with a shortage of gold, which caused discontent among citizens.

Money as a general equivalent in commodity exchange plays a fleeting role. That is why prerequisites are created for the emergence of signs of value, with the appearance of which there is a complete separation of money from their commodity value. Signs of value - small change, paper money.

A bargaining chip is a sign of value, the nominal value of which does not depend on the cost of the metal for its manufacture. It appeared to serve small payments and was a fractional unit of a full-fledged circulating coin. In modern conditions, a token coin is made mainly of copper-nickel, copper-zinc and aluminum alloys.

Paper money (Paper Money) - are signs of value, representatives of full-fledged money, that is, they seem to replace the gold and silver coins that were previously in circulation. Under the security of such money, a gold reserve is stored in the issuing bank, which can be issued upon presentation of paper money. The exchange ratio "monetary unit - mass of gold (silver)" is established by the state by law and does not change often. For example: in 1792, 1 US dollar was equal to 1.6 g of gold, and in 1922, the Russian chervonets was equal to 7.74 g of gold.

Issuers of paper money are either the state treasury (a number foreign countries), or the central bank of the country (Russia). The difference between the nominal value of issued paper money and the cost of their issue (paper, printing, etc.) forms the share premium, which is an essential element of government revenues.

Types of paper money:
Banknote (Bank Note) - a perpetual bill of the central bank, secured by the country's gold reserves, government securities. The classic banknote had double security - credit (bank bill) and metal (gold reserve of the issuing bank). Modern banknotes are not exchanged for gold and are subject to the laws of paper money circulation.

Treasury note - paper money issued by the country's treasury, the government agency in charge of budget execution.

Fiat Money is money that cannot be converted into precious metals i.e. the government does not exchange paper money and coins for gold and silver at a fixed price.

Credit money - a credit form of paper money, they arose to service the purchase and sale of goods with an installment payment (on credit). Their appearance is associated with the function of money as a means of payment. Tasks of credit money:
- to make money circulation elastic, able to reflect the needs of commodity circulation in cash;
- save real (real) money;
- to promote the development of non-cash circulation of money.

Types of credit money:
Promissory note (Note) - a written promissory note, which indicates the amount of money and the timing of its payment by the debtor. A bank bill has a common name - a banknote (from the English banknote - a bank bill).

Check (Check) - a written order of a person who has a current account on the payment by the bank of a sum of money or its transfer to another account.

Electronic money is an electronic information carrier containing information about the status and movement of funds on a client's bank account. Electronic money in essence is money on a special account, which can be accessed through a card, which is a kind of “key” to it.

Depending on the relationship between the client and the bank underlying the issuance of a plastic card, they differ: credit card, debit (debit) and mixed card.

Credit card (Credit Card) - an electronic card issued by banks to their customers to pay for the goods and services they purchase, for which they are granted a loan within a certain limit. As with any loan, obtaining a card is associated with the conclusion of an agreement between the bank issuing the card and the client. The agreement usually specifies the percentage for using the loan, the annual fee for using the card, the maximum amount of current debt and some other conditions.

Debit card (Debit Card) - an electronic card, on which its owner performs operations to withdraw cash, purchase goods, pay for services only within the balance of funds on the account.

A mixed card is a debit card that allows an overdraft of the current account, i.e., provides the possibility of automatic crediting of the client within certain limits. The maximum amount of the credit balance and the amount of interest are stipulated by the terms of the card issuance.

Depending on the storage medium, there are magnetic stripe cards (magnetic cards) and cards with an electronic chip (smart cards).