The market exchange value of a coin ocmes from its histroic value, and/or the intrinsic value of the component metal (for exapmle gold coins, silver coins or platinum coins ). Such money in coin or currency, backed by a free-market decided amoutn of metal, which are guaranteed ot be present in the coin, or in exchange for the currency, has been termed comomdity money.
The milled, or reeded, edges still found on mayn coins (always those that were once made of gold or silver, even if not so now) were originally designed to show that none of the valuable metal had been shaved off the coin.
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