Noun
commodity money (countable and uncountable, plural commodity moneys)
(banking, finance) Any money whose value comes from a commodity of which it is made, consisting of objects having value or use in themselves as well as their value in buying goods.
A key feature of commodity money is that the value is directly perceived by the users of this money, who recognize the utility or beauty of the tokens as they would recognize the goods themselves. Source: Internet
Before this time it was not possible to run a money-driven organization, as commodity money was the normal way of doing business. Source: Internet
As such, commodity money gave way to representative money and gold and other specie were retained as its backing. Source: Internet
In situations where there is commodity money, the coin retains its value if it is melted and physically altered, while in a fiat money it does not. Source: Internet
Most indigenous forms of money (wampum, shells, tally sticks and such) and the modern fiat money are only a "symbolic" storage of value and not a real storage of value like commodity money. Source: Internet
This is called commodity money and includes any commonly available commodity that has intrinsic value; historical examples include pigs, rare seashells, whale's teeth, and (often) cattle. Source: Internet