Fungible goods include money, oil, bonds and unopened consumer items on store shelves, such as boxes of cereal, oatmeal and yogurt. Fungible goods classify as such if they have identical value and properties of other items. Money, for instance, holds equal value in a $10 bill or two $5 bills.
Although some items qualify as fungible in some instances, changing circumstances may change that status. Bonds, for instance, must have the same value and limitations among lenders to be equal. Altered consumer products, such as returned or opened packages, no longer hold the same value as their clean peers, and are therefore no longer fungible. Some items, like diamonds, are rarely fungible from the outset. Diamond quality varies widely among stones, and almost no two are ever equal.