MoneyMoney is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value.
Gold standardA gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold, effectively ending the Bretton Woods system. Many states nonetheless hold substantial gold reserves.
BanknoteA banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the market served by the issuing bank.
Pound sterlingSterling (ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound (sign: £) is the main unit of sterling, and the word "pound" is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling. In British English, its most common nickname is "quid." Sterling is the world's oldest currency that is still in use and that has been in continuous use since its inception.
Precious metalPrecious metals are rare, naturally occurring metallic chemical elements of high economic value. Chemically, the precious metals tend to be less reactive than most elements (see noble metal). They are usually ductile and have a high lustre. Historically, precious metals were important as currency but are now regarded mainly as investment and industrial raw materials. Gold, silver, platinum, and palladium each have an ISO 4217 currency code. The best known precious metals are the coinage metals, which are gold and silver.
NumismaticsNumismatics is the study or collection of currency, including coins, tokens, paper money, medals and related objects. Specialists, known as numismatists, are often characterized as students or collectors of coins, but the discipline also includes the broader study of money and other means of payment used to resolve debts and exchange goods. The earliest forms of money used by people are categorised by collectors as "odd and curious", but the use of other goods in barter exchange is excluded, even where used as a circulating currency (e.
ScythiansThe Scythians (ˈsɪθiən or ˈsɪðiən) or Scyths (ˈsɪθ, but note Scytho- (ˈsaɪθʊ) in composition) and sometimes also referred to as the Pontic Scythians, were an ancient Eastern Iranic equestrian nomadic people who had migrated during the 9th to 8th centuries BC from Central Asia to the Pontic Steppe in modern-day Ukraine and Southern Russia, where they remained established from the 7th century BC until the 3rd century BC. Skilled in mounted warfare, the Scythians replaced the Agathyrsi and the Cimmerians as the dominant power on the western Eurasian Steppe in the 8th century BC.
AeginaAegina (ɪ'dʒaɪnə; Αίγινα, Aígina; Αἴγῑνα) is one of the Saronic Islands of Greece in the Saronic Gulf, from Athens. Tradition derives the name from Aegina, the mother of the hero Aeacus, who was born on the island and became its king. The municipality of Aegina consists of the island of Aegina and a few offshore islets. It is part of the Islands regional unit, Attica region. The municipality is subdivided into the following five communities (population in 2011 in parentheses ): Kypseli (2,124) Mesagros (1,361) Perdika (8,236) Vathy (1,495) The regional capital is the town of Aegina, situated at the northwestern end of the island.
LydiaLydia (Lydian: 𐤮𐤱𐤠𐤭𐤣𐤠, Śfarda; Aramaic: Lydia; Λυδία, Lȳdíā; Lidya) was an Iron Age kingdom of western Asia Minor located generally east of ancient Ionia in the modern western Turkish provinces of Uşak, Manisa and inland Izmir. The ethnic group inhabiting this kingdom are known as the Lydians, and their language, known as Lydian, was a member of the Anatolian branch of the Indo-European language family. The capital of Lydia was Sardis. The Kingdom of Lydia existed from about 1200 BC to 546 BC.
Obverse and reverseObverse and its opposite, reverse, refer to the two flat faces of coins and some other two-sided objects, including paper money, flags, seals, medals, drawings, old master prints and other works of art, and printed fabrics. In this usage, obverse means the front face of the object and reverse means the back face. The obverse of a coin is commonly called heads, because it often depicts the head of a prominent person, and the reverse tails. In numismatics, the abbreviation obv. is used for obverse, while , )( and rev.
