A token money is that unit of currency __________.which is out of circulationthe face value of which is much than its intrinsic valuethe face value of which is than its intrinsic valuewhich is privately printed and circulated to take care of temporary cri (2024)

FAQs

What is the meaning of token money? ›

Token money, or token, is a form of money that has a lesser intrinsic value compared to its face value. Token money is anything that is accepted as money, not due to its intrinsic value but instead because of custom or legal enactment. Token money costs less to produce than its face value.

Token money refers to that money whose face value is greater than its commodity value. In other words, the value of such money is higher than the value of commodity used to make it. For example- the five hundred rupee note in India has a very low commodity value as compared to its face value which is Rs. 500.

Muhammad bin Tughluq was the Sultan of Delhi from 1325 to 1351. In 1330, after his failed expedition to Deogiri, he issued token currency, that is coins of brass and copper were minted whose value was equal to that of gold and silver coins.

He developed a Token Theory of Money, a nominalistic monetary theory with an endogenous quantity of money but warns of the danger of misuse. Only therefore, he combines his understanding of money as a right—as a legal claim on goods and services—with a metallistic conception of gold money.

The terms “coin” and “token” are often used interchangeably in crypto, but they are not the same. Coins function as a form of money, while tokens can be used for a variety of purposes. A coin is native to its Layer-1 blockchain, whereas tokens are created on top of existing chains.

A given or granted item of value only to the recipient with no other appreciable economic value. Examples are trophies, certificates or other customized symbols of appreciation, recognition or courtesy; free promotional items such as advertisers' calendars, pens, notepads, etc.

Intrinsic value is the anticipated or calculated value of a company, stock, currency or product determined through fundamental analysis. It includes tangible and intangible factors. Intrinsic value is also called the real value and may or may not be the same as the current market value.

Face value represents the nominal value of an asset. For example, the face value of money is set by the federal government and printed directly on it, so it's easy to identify. In the investment industry, face value typically involves the value of securities, such as stocks and bonds.

Face value is the assigned monetary worth of a coin for legal tender purposes, while intrinsic value is derived from the metal content of the coin. Intrinsic value reflects the actual worth of the metal contained in the coin, such as gold, silver, or copper.

Question: To say that coins are "token money" means that: their face value is less than their intrinsic value.

What is used token currency? ›

The correct answer is Cheap Metals. Muhammad Bin Tuglaq maintained a large standing army. He used 'token currency' made out of cheap metals to pay his soldiers and not made out of gold or other precious metals.

plural token coins. : a coin having an intrinsic value less than its face value compare standard coin. … if the metal content of a quarter is worth less than its face value of 25 cents, the quarter is a token coin. Money and Banking, 1985.

notes or coins for which the value written on them is greater than the value of the materials they are made from. (Definition of token money from the Cambridge Business English Dictionary © Cambridge University Press)

Token economy is a reinforcement strategy where generalized reinforcers (tokens) are exchanged for backup reinforcers (something the learner wants).

“CashTokens” means an electronic commodity given as a gift to a consumer by CCP, which qualify the Participants/recipient/consumer to guaranteed instant cash and a chance to win in the Weekly National Consumer Draw.

The security token always generates a random code for every transaction thereby making it impossible for another person to carry out online transactions from your account. There is no need to visit a branch. With a security token you can carry out online transactions anywhere in the world.

Standard is made of high quality materials such as gold or silver, while token is made up of little less standard material and includes only coins. Standard is often considered as short term, while token is long term. Standard is the unit of account against which all other currencies in the country are measured.

token noun [C] (SYMBOL)

something that you do, or a thing that you give someone, that expresses your feelings or intentions, although it might have little practical effect: As a token of our gratitude for all that you have done, we would like you to accept this small gift.

In many cases, Token money is paid at the time of execution of the Sale Agreement. Based on the same, the buyer applies for a Home Loan. Usually a Sale Agreement is executed on stamp papers equivalent to 0.1% of a Sale Agreement Value.