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Token-Money

Defined in 2 dictionaries — Bouvier (1914), Black's (1910)

Bouvier's Law Dictionary and Concise Encyclopedia

John Bouvier; revised by Francis Rawle · 1914

Originally used to designate the counters issued by traders to meet the lack of small change. Now used by economists to denote the smaller money that circulates at a nominal value higher than its cost. Encycl. Br. See Token.

Black's Law Dictionary

Henry Campbell Black, M.A. · 1910

A conventional medium of exchange consisting of pieces of metal, fashioned in the shape and size of coins, and circulating among private persons, by consent, at a certain value. No longer permitted or recognized as money. 2 Chit. Com. Law, 182.

Defined under Token in Black's Law Dictionary.