Currency
A currency is the unit of exchange for the transfer of goods and services between the people of a country or even between countries. A currency therefore is a form of money used as a medium of exchange because of an agreed standard of value. In other times, barter was used to facilitate the exchange of good and services. Money that has the force of law behind it is called legal tender. This means a person cannot refuse to accept payment for debts when legal tender is used; otherwise, that person’s refusal constitutes “economic sabotage” and will subject him to criminal penalties including jail time. The scientific study of money is called as numismatics and persons fond of collecting coins and paper monies are numismatists. Due to fluctuating values brought about by international trade and a country’s own reserves, values of a currency can decline or rise with time. Currency actually goes into “obsolescence” when its buying power goes down due to inflation.
My collection of money from around the world.