circulating medium

American  

noun

1. any coin or note passing, without endorsement, as a medium of exchange.

2. such coins or notes collectively.

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circulating medium British  

noun

1. finance currency serving as a medium of exchange

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Etymology

Origin of circulating medium

First recorded in 1790–1800

Example Sentences

The currency of the State banks, fairly worthless, was nearly the only circulating medium.

From Lincoln, the Politician by Levy, T. Aaron

If the object were to furnish a circulating medium, the legal tender treasury notes would have been a preferable currency.

From Monopolies and the People by Cloud, D. C.

The circulating medium was brought to a sound basis.

From The South American Republics Part I of II by Dawson, Thomas C.

It was this picture that gave occasion for one of John Van Buren's noted sayings that were once a circulating medium in the lawyers' offices of New York.

From Caricature and Other Comic Art in all Times and many Lands. by Parton, James

These coupons were of no value as a circulating medium, and consequently would deprive the State of all means of carrying on the government if they were successful.

From Life Gleanings by Macon, T. J.