A monetary system is the set of institutions by which a government provides money in a country’s economy. Modern monetary systems usually consist of the national treasury, the mint, the central banks and commercial banks.
Commodity money system
A commodity money system is a monetary system in which a commodity such as gold or silver is made the unit of value and physically used as money. The money retains its value
because of its physical properties. In some cases, a government may stamp a metal coin with a face, value or mark that indicates its weight or asserts its purity, but the value remains the same even if the coin is melted down.
One step away from commodity