Foundation
Social Science Foundation
Money and Credit
Question
Token coins are coins whose face value is greater than their intrinsic value.
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Solution
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Token coins are suchcoins whose face value is greater than is commodity value. In other words, its face value is greater than its intrinsic(commodity) value. For example- the tenrupee coin in India has a very low commodity value as compared to its facevalue which is 10 rupees.
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