Full-bodied money is money whose value as a commodity for non-monetary purposes (i.e, the value of metal coined it) is as great as its value as money. The main full-bodied monies in modern economies have been the coins of standard metals like Gold and Silver. Representative Full-bodied money is usually made of Paper. It is equivalent to a circulating warehouse receipt for full-bodied coins or their equivalent in bullion. The paper money itself has no value as a commodity, but it represents in circulation an amount of money with a commodity value equal to the value of money.
