The characteristics of money that the coin meets are:
The coin is durable. The $1 silver eagle lasts for an extended period.
The coin is portable. The $1 silver eagle can easily be carried from one place to another place.
The coin is uniform. The $1 silver eagle are all the same. They are identical.
The coin is acceptable. The $1 silver eagle is accepted by the general public as a means of carrying out transactions.
The coin is divisible. The $1 silver eagle can easily be divided into smaller units.
The coin is limited in supply. The $1 silver eagle's supply in the economy is determined by the Central Bank.
The $1 silver eagle has intrinsic value. This is because it is made of 99.99% pure silver. The $1 silver eagle coin is a fiat currency.
<h3>What is money?</h3>
Money is anything that is generally accepted as a means of payment for goods and services and for repayment of debt. Fiat money is currency whose value is not backed up by any asset.
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