Knowra Paper money Paper money Paper money is currency issued as notes made from paper or similar materials. It circulates as a medium of exchange and is commonly issued by a government or central bank.
Fiat money : Money that has value by government decree and public acceptance rather than redemption for a commodity. Most modern paper notes are fiat money, not claims exchangeable for a fixed amount of gold.
Jiaozi : A form of paper currency used in Sichuan, China, during the Song dynasty. Jiaozi is among the earliest known government-issued paper currencies.
Cash : Physical money, including coins and banknotes, used for direct payment. Paper money is one of the two principal forms of cash.
Commodity money : Money whose value comes partly or wholly from a useful or scarce commodity, such as gold or salt. Unlike paper notes, commodity money has value tied to the material itself.
Central bank : A public institution that manages a country’s money supply, monetary policy, and financial system. Central banks commonly issue notes and manage the currency in which they are denominated.
Song dynasty : A Chinese imperial dynasty that ruled from 960 to 1279 and saw major commercial and technological growth. Its expanding trade and state institutions formed the setting for early paper currency.
Currency : A system of money used within an economy, including its units, notes, coins, and rules. Paper notes are physical units within a broader currency system.
Coin : A small, usually metal, piece of currency issued with a denomination by an authority. Coins serve many of the same payment functions but differ in material, durability, and denominations.
Banknote : A negotiable monetary instrument issued by a bank or monetary authority, usually printed on paper or polymer. Banknotes are the standard physical form of paper money.
Ming dynasty paper currency : Paper currency issued by the Ming dynasty, including the Great Ming Treasure Note. Ming issues show how a state currency could lose purchasing power through excessive issuance.
Show all 21