CURRENCY: Paper usually issued by the national government that are used as money. Metal coins are also frequently included under the generic heading of currency. Currency in the U.S. economy is issued by the Federal Reserve System (paper) and the U.S. Treasury (coins). This constitutes about 30 to 40 percent of the M1 money supply. Most modern currency is fiat money. See also | money | M1 | checkable deposits | money supply | Federal Reserve System | fiat money | Federal Reserve note | gold certificate | silver certificate |
