As of March 2019, more than half of the money supply (M1) was in the form of

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Checkable deposits are included in M1 as they can be quickly and easily converted into currency. According to the Federal Reserve as of March 2019, checkable deposits made up approximately 52% of M1. Currency was about 43%, and the remaining 5% was made up of other items like traveler's checks. Gold coins and bars and savings deposits are not included in M1.

As of March 2019, More Than Half of the Money