Portal:Money

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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A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance; i.e., legal tender laws may require a particular unit of account for payments to government agencies.

Other definitions of the term currency appear in the respective synonymous articles: banknote, coin, and money. This article uses the definition which focuses on the currency systems of countries. (Full article...)

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The Latvian lats (plural: lati, plural genitive: latu, second Latvian lats ISO 4217 currency code: LVL) was the currency of Latvia from 1922 until 1940 and from 1993 until it was replaced by the euro on 1 January 2014. A two-week transition period during which the lats was in circulation alongside the euro ended on 14 January 2014. The lats is abbreviated as Ls and was subdivided into 100 santīmi (singular: santīms; from French centime), abbreviated as an s after the santīm amount.

The Latvian lats has been recognized as one of the 99 entries of the Latvian Culture Canon. (Full article...)

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Did you know -

... that Russian indie artist polnalyubvi bought her first guitar with money earned from busking with her violin?
... that Adam Kincaid of the National Republican Redistricting Trust defended lowered competition in US House elections, arguing that the changes would save the party money?
... that the dark-money American Accountability Foundation aims to "take a big handful of sand and throw it in the gears of the Biden administration"?
... that Neha Pendse, the lead actress of the Marathi film June, contributed some of her own money towards its production?
... that after Ted Turner asked for viewers' money to keep WRET-TV afloat, he was able to repay thousands of lenders four years later—with interest?
... that Johnny Peirson signed with the Boston Bruins to earn some extra money for his education at McGill University?
... that Frankie Saluto was a member of the Ringling Giants, a dwarf baseball team that raised money for charity?
... that people are robbing Lebanese banks to get their own money back?

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General images -

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

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

In the news

22 December 2023 –: China passes a series of regulations aimed at limiting video game microtransactions. The new rules include banning rewards for logging on for multiple consecutive days and banning rewards for players if they spend money in a game for the first time. (Reuters)
15 December 2023 –: State prosecutors in Thailand indict a member of the country’s Senate, Upakit Pachariyangkun, on six charges involving narcotics trafficking, money laundering and association with a transnational criminal organization. (AP); Chile's police arrest at least 55 people in one of the country's largest fiscal fraud cases, amounting to about $275 million and implicating small- and mid-sized companies in different parts of the country. The suspects will stand trial for tax crimes, criminal association, money laundering, customs fraud and making false declarations. (AP)
14 December 2023 –: Ex-FBI agent Charles McGonigal is sentenced to over four years in prison for violating U.S. sanctions on Russia, including laundering money for oligarch Oleg Deripaska. (BBC News)
1 December 2023 – 118th United States Congress: George Santos is expelled from the United States House of Representatives over criminal corruption charges and accusations of misspending campaign money. (Reuters)

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