If a coin is token money, its face value is greater than its intrinsic value.

Name: If a coin is token money, its face value is greater than its intrinsic value.
Brand: Quizplus
Rating: 4.9 (37 reviews)

Question

Quizplus · Accepted Answer

This statement is true. Token money, such as coins, derive their value from being deemed acceptable as a means of exchange, rather than their actual worth as a physical object. Therefore, their face value is typically higher than their intrinsic value, which is the value of the metal or material they are made from.

If a Coin Is Token Money, Its Face Value Is