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 Replies: 9 / Views: 1,661 |
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Moderator
 Australia
16837 Posts |
I'm just curious. All my old reference books, which I bought back when I was more into collecting notes than I am now, call them either "paper money", "banknotes" or simply "notes". Now, I realize "banknotes" isn't quite technically correct in many cases, specifically when a note is issued by a government department, private individual or corporation rather than a bank. But it's what I've always used, and seems to be the normal term to use here in Oz; case in point - the full title of the "Maccas Guide" is "The Pocket Guide to Australian Coins and Banknotes". You can also see the trend on eBay Australia's coin page. The equivalent American site uses the tern "paper money". "Currency", as I understand it, has the broader definition of any form of money currently in circulation at the time - notes, coins, bottles of rum, seashells, elephant's tails or what have you. I Googled "define: currency" and most of the definitions it gives seem to agree with this. Thus a "currency collector" would be a collector of coins, notes and anything else used as money. Yet I find on the numismatic Internet forums (such as this one) that "currency" seems to mean only "paper money". Is this another example of numismatic jargon, where an ordinary word is annexed and had it's meaning changed (in the same way that "good" means "quite awful" in numismatics)? It seems to be purely an American use of the word. When did this transition come about, and why? Who started it? My guess is it's simply grown out of the insistence of some parts of the note collecting community not to call them "banknotes", and the convenience of the alliteration - "Coins and Currency". Does anyone know the full story, here? Inquiring minds (well, one inquiring mind, at least) want to know. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Formerly nancyc
Australia
5385 Posts |
There's another inquiring mind here that would also like to know the answer to this question. To me 'currency' means, as Sap says, anything used as money. A very common term is 'currency of the day', if are we meant to read this as 'paper money' of the day, it just doesn't make sense.
If a country decided to use beer bottle tops as money, it would become their 'currency'.
I collect decimal currency & I don't collect notes, so what does that make all my coins, worthless junk?. I don't think so.
There are simply too many inconsistencies in collecting terms.
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Pillar of the Community
Australia
9415 Posts |
Make that three. I was wondering the same thing too. Steve  |
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Pillar of the Community
United States
4589 Posts |
I agree that currency is any type of money
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Pillar of the Community
United States
882 Posts |
I think that collectors such as you, me, and everyone else on the forum have the proper knowledge to know the difference from currency, paper money, bank notes, etc... We can understand what we are talking about. But when you explain to a stranger what your hobbies are, and you collect paper money, I guess you may just say currency instead since the non-numismatics savy person will know currency most likely means paper money. I actually don't stick to one term. Some days I'll say currency, then other days I'll say paper money. Most seem to get the idea...
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Valued Member
United States
287 Posts |
quote:
I agree that currency is any type of money
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Formerly nancyc
Australia
5385 Posts |
quote:
Originally posted by Tykimeister
I think that collectors such as you, me, and everyone else on the forum have the proper knowledge to know the difference from currency, paper money, bank notes, etc... We can understand what we are talking about. But when you explain to a stranger what your hobbies are, and you collect paper money, I guess you may just say currency instead since the non-numismatics savy person will know currency most likely means paper money. I actually don't stick to one term. Some days I'll say currency, then other days I'll say paper money. Most seem to get the idea...
Sorry Tykimeister, but I have to disagree here. The only time I've read/heard Paper Money referred to as 'currency' is on a numismatic forum or by other collectors. As far as the the general public are concerned, all money is currency. If I collected notes, which I don't, and I was explaining my hobby to a non-collector, I would NOT tell them I collected "currency" because I'd simply be telling them I collect money.  |
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Moderator
 Australia
16837 Posts |
For the general public in Australia, the only time "currency" equates to "paper money" in my experience is in the phrases "foreign currency" or "currency exchange" - everyone knows you're only talking about paper money, because the moneychangers refuse to deal with fiddly small change (i.e. coins).
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Bedrock of the Community
United States
17884 Posts |
Part of the reason for the distinction is probably from its use in the written laws.
At least in the US, the written laws dealing with coins always refers to them as coins but if they use the term currency they are only refering to the paper money and they keep the two sections of the law seperate. They use the term currency in the second case so they don't have to keep specifying all the different types of paper money, less they forget to list one.
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Pillar of the Community
Australia
1091 Posts |
Perhaps we use the term "Currency" for lack of a better word. The problem with the term "Banknotes" is some are not issued by Banks. The problem with the term "paper money" is some are not made of paper. Australian modern notes are all "polymer" The problem with "notes" is some people may believe you collect old shopping lists, etc. LOL.  While "currency" can discribe all "paper or polymer" money, all "bank or government" notes, and discribes the "type of notes" that you collect...the type you spend. Currency does include coins but everyone knows what coins are, regardless of what they are made of or who produced them. If you collect coins you would say "coins" and the meaning is clear. What single word better discribes "Currency" when meaning... paper banknotes or polymer government notes? Edited by toast
01/30/2007 8:02 pm
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Replies: 9 / Views: 1,661 |
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Posted 12/27/2006 06:31 am
