What does the term commodity money refer to?

Name: What does the term commodity money refer to?
Brand: Quizplus
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Quizplus · Accepted Answer

Commodity money refers to a type of money that has intrinsic value. This means that the value of the money is based on the value of the commodity that it represents (such as gold or silver), rather than on the value assigned to it by a government or other authority. Commodity money has value even if it is not being used as a medium of exchange, because the commodity it represents has value in and of itself.

What Does the Term Commodity Money Refer To