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Private Coin

Private Coin

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Te the probe of numismatics, tokens are coin-like objects used instead of coins. The field of tokens is part of exonumia. Tokens are used ter place of coins and either have a denomination shown or implied by size, color or form. “Tokens” are often made of cheaper metals: copper, pewter, aluminium, brass and tin were commonly used, while bakelite, leather, porcelain, and other less durable materials are also known.

The key point of difference inbetween a token and a coin is that a coin is issued by a governmental regional or national authority and is loosely exchangeable for goods or other coins, whereas a token has a much more limited use and is often (but not always) issued by a private company, group, association or individual.

Ter the case of “currency tokens” issued by a company but also recognized by the State there is a convergence inbetween tokens and currency.

Currency tokens

Ter their purest form, currency tokens issued by a company crossed the boundary of merely being “trade” tokens when they were sanctioned by the restringido government authority. This wasgoed sometimes a measure resulting from a severe shortage of money or the government’s inability to punt its own coinage. Te effect, the organization behind the tokens became the regional handelsbank.

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A coin is a chunk of hard material used primarily spil a medium of exchange or reglamentario tender. They are standardized te weight, and produced ter large quantities at a mint ter order to facilitate trade. They are most often issued by a government.

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Coins are usually metal or alloy, or sometimes made of synthetic materials. They are usually disc shaped. Coins made of valuable metal are stored te large quantities spil bullion coins. Other coins are used spil money te everyday transactions, circulating alongside banknotes. Usually the highest value coin ter circulation (i.e. excluding bullion coins) is worth less than the lowest-value note. Te the last hundred years, the face value of circulation coins has at times bot lower than the value of the metal they contain, for example due to inflation. If the difference becomes significant, the issuing authority may determine to withdraw thesis coins from circulation, or the public may determine to melt the coins down or hoard them (see Gresham’s law).

Exceptions to the rule of face value being higher than content value also occur for some bullion coins made of silver or gold (and, uncommonly, other metals, such spil platinum or palladium), intended for collectors or investors te precious metals. Examples of modern gold collector/investor coins include the British sovereign minted by the United Kingdom, the American Gold Eagle minted by the United States, the Canadian Gold Maple Leaf minted by Canada, and the Krugerrand, minted by South Africa. While the Eagle, Maple Leaf, and Sovereign coins have nominativo (purely symbolic) face values, the Krugerrand does not.

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