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What is a monetary coin?

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Quick Answer

A monetary coin is a circulated coin that has financial value in a culture. Paper money and coins are standard currencies in most countries. A monetary coin is different from a collectible coin that has no tangible value.

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What is a monetary coin?
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Full Answer

In the United States, depository institutions place coins they receive from Federal Reserve banks into circulation. The standard monetary coins in the U.S. are the penny, nickel, dime, quarter, half-dollar and dollar. These coins are worth 1 cent, 5 cents, 10 cents, 25 cents, 50 cents and 1 dollar, respectively. Coins are used to pay for financial transactions that include fractions of a dollar.

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