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The Money Portal

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...)

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The 2007–2008 financial crisis, or the global financial crisis (GFC), was the most severe worldwide economic crisis since the Great Depression. Predatory lending in the form of subprime mortgages targeting low-income homebuyers, excessive risk-taking by global financial institutions, a continuous buildup of toxic assets within banks, and the bursting of the United States housing bubble culminated in a "perfect storm", which led to the Great Recession.

Mortgage-backed securities (MBS) tied to American real estate, as well as a vast web of derivatives linked to those MBS, collapsed in value. Financial institutions worldwide suffered severe damage, reaching a climax with the bankruptcy of Lehman Brothers on September 15, 2008, and a subsequent international banking crisis. (Full article...)

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The hryvnia (/(hə)ˈrɪvniə/ (hə-)RIV-nee-ə; Ukrainian: гривня [ˈɦrɪu̯nʲɐ] , abbr. : грн hrn; sign: ₴; code: UAH) has been the national currency of Ukraine since 2 September 1996. The hryvnia is divided into 100 kopiyok. It is named after a measure of weight used in Kievan Rus'. (Full article...)

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... that in the span of three days, a Florida man was approved by bankruptcy courts to buy TV stations in Roanoke and Lynchburg, Virginia, and then arrested on charges of laundering millions in drug money?
... that a Virginia radio station built a house to raise money for operations?
... that barley was once used as a form of money?
... that the Gould Memorial Library once hosted pie-throwing contests to raise money?
... that Russian money, known as qiang tie by locals, was used as legal currency in some regions of China for decades?
... that a special legislative session to deal with the Real Estate Bank of Arkansas was not called because a third of the legislature owed money to the bank?
... that Starbucks raised money for HIV/AIDS research using their red holiday cups?
... that Prince Charles donated money to help repair the Cambus O' May bridge after it was badly damaged by Storm Frank in 2015?

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The following are images from various currency-related articles on Wikipedia.

Image 1Tibetan kong par tangka, dated 13-45 (= AD 1791),reverse (from Tibetan tangka)
Image 2Banknotes and coins (from Money)
Image 3Banknotes of different currencies with a face value of 5000 (from Money)
Image 4A check, used as a means of converting funds in a demand deposit to cash (from Money)
Image 5Tibetan silver tangka with Ranjana (Lantsa) script, dated 15-28 (= AD 1894), reverse (from Tibetan tangka)
Image 6Paper money from different countries (from Money)
Image 7"Bent bar" minted under Achaemenid administration, Gandhara, c.350 BC. (from Punch-marked coins)
Image 8Tibetan kong par tangka, dated 13-45 (= AD 1791),obverse (from Tibetan tangka)
Image 9Huizi currency, issued in 1160 (from Money)
Image 10Tibetan "gaden" Tangka, undated (ca. AD 1840), obverse (from Tibetan tangka)
Image 11Tibetan "gaden" Tangka, undated (ca. AD 1840), reverse (from Tibetan tangka)
Image 12Money Base, M1 and M2 in the U.S. from 1981 to 2012 (from Money)
Image 13Gold coins are an example of legal tender that are traded for their intrinsic value, rather than their face value. (from Money)
Image 14A 640 BC one-third stater electrum coin from Lydia. According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins. It is thought by modern scholars that these first stamped coins were minted around 650 to 600 BC. (from Money)
Image 15Sino Tibetan silver tangka, dated 58th year of Qian Long era, reverse. Weight 5.57 g. Diameter: 30 mm (from Tibetan tangka)
Image 16Athens coin (c. 500/490-485 BC) discovered in Pushkalavati. This coin is the earliest known example of its type to be found so far east. (from Punch-marked coins)
Image 17Tenga of Muhammad Khudayar Khan, struck at the Kokand mint, dated 1862–1863 (from Kokand tenga)
Image 18Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,obverse (from Tibetan tangka)
Image 19Tibetan undated silver tangka, struck in 1953/54, reverse. (from Tibetan tangka)
Image 20Undated Kelzang tangka (1910), obverse (from Tibetan tangka)
Image 21Tibetan undated silver tangka (2nd half of 18th century) with eight times the syllable "dza" in vartula script,reverse (from Tibetan tangka)
Image 22Song Dynasty Jiaozi, the world's earliest paper money (from Money)
Image 23Tibetan undated silver tangka, struck in 1953/54, obverse. (from Tibetan tangka)
Image 24Tibetan silver tangka with Ranjana (Lantsa) script, dated 15-28 (= AD 1894), obverse (from Tibetan tangka)
Image 25A hoard of mostly Mauryan punch-marked coins (from Punch-marked coins)
Image 26President J. K. Paasikivi illustrated in a former Finnish 10 mark banknote from 1980 (from Money)
Image 27Printing paper money at a printing press in Perm (from Money)
Image 28Punch-marked coins discovered from Chandraketugarh. (from Punch-marked coins)
Image 29US dollar banknotes (from Money)
Image 30Undated Kelzang tangka (1910), reverse (from Tibetan tangka)
Image 31A 1914 British gold sovereign (from Money)
Image 32A person counts a bundle of different Swedish banknotes. (from Money)
Image 33Sino Tibetan silver tangka, dated 58th year of Qian Long era, obverse. Weight 5.57 g. Diameter: 30 mm (from Tibetan tangka)

In the news

10 May 2024 – Arrest of Arvind Kejriwal, 2024 Indian general election: The Supreme Court of India grants Delhi Chief Minister Arvind Kejriwal interim bail for 21 days in connection with the Delhi liquor policy money laundering case, thereby permitting Kejriwal to campaign in the ongoing general election. (The Hindustan Times)
8 May 2024 –: Two Cambodian and Chinese people are deported from Singapore after being convicted of laundering over S$3 billion (US$2.2 billion), Singapore's largest ever money laundering case. (VnExpress)
30 April 2024 –: The founder of the cryptocurrency exchange service Binance, Changpeng Zhao, is sentenced to four months in prison for money laundering. (Reuters)
31 March 2024 –: In the largest heist in city history, $30 million is stolen from a GardaWorld money storage facility in Sylmar, Los Angeles, California, United States. (Los Angeles Times) (KABC-TV) (CNN)