BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is money in the form of gold or silver coins?
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fiat money
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commodity money
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specie money
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bitcoin
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Explanation:
Detailed explanation-1: -What is a Specie? money in the form of coins made from silver or gold.
Detailed explanation-2: -Coins or other metal money in mass circulation. Bullion coins.
Detailed explanation-3: -Specie, noun : money in coin The new currency was universally in the form of coins, with the larger denominations ($10 “eagle” / $5 “half eagle” / $2.50 “quarter eagle") struck in gold.
Detailed explanation-4: -Currency is the coin, note, object, etc. that is presented in the form of money. The basic form of money is numbers; currently, the basic form of currency is paper notes, coins, or plastic cards (e.g., credit or debit cards).
There is 1 question to complete.