What Are The Characteristics Of Coinage Money?

It has become a convenient commodity as a medium of exchange and comparing of values.  By milling the edges and stamping the face value of coins the chances of clipping or tempering with the metallic currency or issuing of counterfeit coins has been greatly reduced. The stamped coins become the historical documents of the state. There are three types of coinage money one of them is free and limited coinage. Second is gratuitous coinage and non gratuitous coinage and the third one is brass age, seignior age and the debasement of coins.

Coinage is said to be free of the people are allowed to take metals to the mint for being converted into standard coins without limit. Before 1933 in America, United Kingdom and Japan there was the system of free coinage prevalent in the economy. In undivided India before 1893 people could take silver to the mint and have it converted into standard coins without any limit.  Coinage is said to be limited when the metal is converted into coins at the option of the state. The government judging the currency requirements of the country and freely slows the standard money metal to be converted into coins but limit is imposed on free coinage of other metals.