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Commodity-Backed Currency

You are here: Home / CM Tooltip Glossary Ecommerce / Commodity-Backed Currency

8 October,2017By: Arman Abdul Rahman

A currency whose value is guaranteed by the physical availability of the commodity that backs the currency. The owner of a backed currency can normally ask for delivery of the physical good or service in exchange for the currency. Backed currency is typically issued by whoever owns the product or service accepted as backing (e.g., the 19th century gold standard backed by gold).

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