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Euro coins and banknotes

Money 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: 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. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar.

The money supply of a country comprises all currency in circulation (banknotes and coins currently issued) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, whose value exists on the books of financial institutions and can be converted into physical notes or used for cashless payment, forms by far the largest part of broad money in developed countries. (Full article...)

A 1926 promissory note from the Imperial Bank of India, Rangoon, Burma for 20,000 rupees plus interest
A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms and conditions. (Full article...)
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The apsar (Abkhaz: аԥсар, āpsār) is a currency of Abkhazia. So far, coins in denominations of 1, 2, 3, 5, 10, 20, 25, 50, and 100 apsars and banknotes in denominations of 10, 25, 100, and 500 apsars have been issued. While the coins and banknotes are legal tender in the Republic of Abkhazia, their usage is very limited, and they are mostly made for collectors. In Abkhazia, the Russian ruble is used in practice. The first apsar coins were introduced in 2008.

The name derives from the Apsars, a tribe mentioned in The Georgian Chronicles who inhabited the region in the Middle Ages and who are believed to be the ancestors of the Abkhaz people. (Full article...)

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In the news

4 July 2024 –
Tunisian opposition leader and founder of the Republican People's Union party Lotfi Mraïhi is arrested on suspicion of money laundering. (Al Jazeera)

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