Noun
circulating medium (plural circulating mediums or circulating media)
(economics) Forms of money that pass from hand to hand, such as coins and banknotes.
However, the collapse of the Near Eastern trading system pointed to a flaw: in an era where there was no place that was safe to store value, the value of a circulating medium could only be as sound as the forces that defended that store. Source: Internet
In this view, the increase in the circulating medium is the result of the government attempting to buy time without coming to terms with the root cause of the lack of confidence itself. Source: Internet
Silver was typically the main circulating medium, with gold as the monetary reserve. Source: Internet