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Message: <blockquote data-quote="JDJblatherings" data-source="post: 3627330" data-attributes="member: 52044">A coin is a token of value ...it is money. The description for coins in this model is the description for money.Maybe something more along the lines of-Barter:  I will swap you a valuable item I have that you need (food say) for a valuable item that you have that I need (some cloth say). The problem with a barter economy is that it isn't very liquid in that it relies of me finding someone who has what I need who also happens to need what I've got.Metal: I will swap you a specific portion/quantity of a commonly recognized valuable item I have for a valuable item that you have so you may use it later in another transaction for something you may need. The problem with this system is a set of measuring devices is always required in transactions and purities of materials can vary widely. Coin: I will swap you a commonly recognized valuable item that has had it's purity confirmed by the state for a valuable item that you have. The state has control over the purity of the materials in a coin so the value of coins differs greatly from state to state.  Coins are trusted becasue the authorityy of the state backs the value in additon to the traditionaly recognized value of the materials in the coin. Note: I will swap you certificate that guarantees a specific quanity of goods, metals or coins a valuable item that you have. This form of money is still tied to "real" goods controlled by the state (or other note giving body). Collecting those real goods can be tricky and one must trust the state actually has the quantity of goods it claims to have.Notes can still be coins but the coins have values tied to the authority of the state and little to do with the value of the actual materials the coin is manufactured from. Changes in values of materials notes are tied to can impact the value of notes.Credit:  money no longer has a value fixed to a specific good or material but goods can be exchanged in a market that commonly recognize a specific kind(s) of credits  (such as dollars, euros, etc..). The value of those credits can shift wildly with economic conditions but a powerful and stable state can reliably control the value of it's money.</blockquote>

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