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Form of money that has little intrinsic value compared to its face value
the monetary concept

Token money, or token, is a form of money that has a lesser intrinsic value compared to its face value. Token money is anything that is accepted as money, not due to its intrinsic value but instead because of custom or legal enactment. Token money costs less to produce than its face value. Token money as a system is predominantly used in mobile games, but is also used in the realm of e commerce. The adoption of token money has improved transaction efficiency, as the practicalty of transacting with sums of gold poses a larger security risk. In a commodity economy, money is a measure of the value of goods and services (prices) within a sovereign country or the same economy, as well as a particular commodity to pay off debts. The token is also used as a medium of exchange, as a store of value, and as a unit of account. Digital currencies using decentralized blockchain technology are also a form of token money.

In Ancient Greece and the Roman Empire, copper coins were used for small transactions and were issued a monetary value greater than the value of the metal itself. In Medieval Indian History, Mohammad Bin Tughlaq (c.1290 1351) issued copper currency called Tanka as token money whose value was legally set equal to silver coin, and is considered the world's first truly token currency. In the early nineteenth century, David Ricardo suggested issuing token money as long as it did not affect commodity standard.

Token money has less intrinsic value compared to its face value. If the token money is metallic it is commonly made out of cheaper metals such as copper and nickel. With token money, exchanges are not considered fully complete because the exchange of value is not equivalent. Value is hoped to be rendered at some future time. Examples of this include bills of exchange or negotiable instrument and certificates.