商品货币即使没有被用作货币也是有价值的货币。 （这通常被称为具有内在价值。）许多人将黄金作为商品货币的一个例子，因为他们断言黄金除了货币属性外还具有内在价值。虽然这在某种程度上是正确的;事实上，黄金确实有很多用途，值得注意的是，最经常引用的黄金用于制作金钱和珠宝而不是用于制作非装饰性物品。菲亚特货币是没有内在价值的货币，但它具有货币价值，因为政府下令它具有为此目的的价值。虽然有点违反直觉，但使用法定货币的货币制度当然是可行的，事实上，今天大多数国家都在使用。菲亚特的资金是可能的，因为只要社会中的所有人都承认法定货币是有效的货币形式，货币的三种功能 – 交换媒介，账户单位和价值储存 – 就能实现。 。商品支持的货币对商品货币略有不同。虽然商品货币直接使用商品本身作为货币，但商品支持货币是可以根据特定商品的需求进行交换的货币。黄金标准是使用商品支持货币的一个很好的例子 – 在黄金标准下，人们并没有真正随身携带黄金作为现金并直接为商品和服务交易黄金，但该系统的运作使得货币持有人可以进行交易他们的货币为指定数量的黄金。许多政治讨论围绕着商品（或更确切地说，商品支持的）货币与法定货币的问题，但实际上，两者之间的区别并不像人们想象的那么大，原因有两个。首先，对法定货币的一个反对意见是缺乏内在价值，而法定货币的反对者经常声称使用法定货币的制度本质上是脆弱的，因为法定货币没有非货币价值。虽然这是一个有效的问题，但人们必须想知道由黄金支持的货币体系如何显着不同。鉴于世界上只有一小部分黄金供应用于非装饰性物业，黄金是否具有价值主要是因为人们认为它具有价值，就像法定货币一样？其次，法定货币的反对者声称，政府无需用特定商品支持印钞票的能力就具有潜在的危险性。这在某种程度上也是一个有效的问题，但是商品支持的货币体系并没有完全阻止这种关注，因为政府当然有可能收获更多的商品以赚取更多的钱或通过以下方式重新评估货币。改变其以旧换新价值。
Commodity money is money that would have value even if it were not being used as money. (This is usually referred to as having intrinsic value.) Many people cite gold as an example of commodity money since they assert that gold has intrinsic value aside from its monetary properties. While this is true to some degree; gold does, in fact, have a number of uses, it’s worth noting that the most often-cited uses of gold are for making money and jewelry rather than for making non-ornamental items. Fiat money is money that has no intrinsic value but that has value as money because a government decreed that it has value for that purpose. While somewhat counterintuitive, a monetary system using fiat money is certainly feasible and is, in fact, used by most countries today. Fiat money is possible because the three functions of money — a medium of exchange, a unit of account, and a store of value — are fulfilled as long as all people in a society acknowledge that the fiat money is a valid form of currency. Commodity-backed money is a slight variation on commodity money. While commodity money uses the commodity itself as currency directly, commodity-backed money is money that can be exchanged on demand for a specific commodity. The gold standard is a good example of the use of commodity-backed money- under the gold standard, people were not literally carrying around gold as cash and trading gold directly for goods and services, but the system worked such that currency holders could trade in their currency for a specified amount of gold. Much political discussion centers around the issue of commodity (or, more precisely, commodity-backed) money versus fiat money, but, in reality, the distinction between the two isn’t quite as large as people seem to think, for two reasons. First, one objection to fiat money is the lack of intrinsic value, and opponents of fiat money often claim that a system using fiat money is inherently fragile because fiat money doesn’t have a non-money value. While this is a valid concern, one must then wonder how a monetary system backed by gold is significantly different. Given that only a small fraction of the world’s gold supply is used for non-ornamental properties, isn’t it the case that gold has value mostly because people believe it has value, much like fiat money? Second, opponents of fiat money claim that the ability for a government to print money without having to back it up with a specific commodity is potentially dangerous. This is also a valid concern to some degree, but one that is not entirely prevented by a commodity-backed money system, since it’s certainly possible for the government to harvest more of the commodity in order to generate more money or to revalue the currency by changing its trade-in value.