Difference between Currency & Money

[Stephen]

Currency is simply paper. This paper money is a tool for trading your time.
Currency has no intrinsic value!. One of the biggest problems with currency is that the governments can print more and more of it whenever they want or need to. Historically there have been thousands of fiat currencies (which are not backed by gold and silver) have gone to ZERO! That’s a 100% failure rate for fiat currencies!

Money is a store of value and maintains its purchasing power over a long period of time. Silver and gold is the optimum form of money because of its properties. You can store a large amount of value in a very small area. Only silver and gold have maintained their purchasing power over the last 5000 years! This is because silver and gold are limited in quantity – there is only a finite amount of silver and gold on planet earth!

‘Gold Silver’ website explains that the most significant difference between money and currency is that currency does not have a consistent value. Currency is used as a physical representation of value that changes over time and varies from one country to the next. Gold and silver are the only items that have served as money and represented fixed value throughout human history.


Characteristics of Currency
- Medium of Exchange: The buyer will exchange with a seller to purchase goods or services
- Unit of Account: It’s got numbers on it. Used to value goods and services,
- Portable: Can be carried easily
- Durable: The money doesn't wear out, rot, or otherwise expire.
- Divisible: Can be broken down into smaller denominations. Can make change from it
- Fungible: They are identical to each other therefore are interchangeable. If items are sold by weight or number, they are fungible items.


Characteristics of Money
- Medium of Exchange: The buyer will exchange with a seller to purchase goods or services
- Unit of Account: It’s got numbers on it. Used to value goods and services,
- Portable: Can be carried easily
- Durable: The money doesn't wear out, rot, or otherwise expire.
- Divisible: Can be broken down into smaller denominations. Can make change from it
- Fungible: They are identical to each other therefore are interchangeable. If items are sold by weight or number, they are fungible items.
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- Store of Value: Maintains its purchasing power over a long period of time.