any coin or note passing, without endorsement, as a medium of exchange.
such coins or notes collectively.
Origin of circulating medium
First recorded in 1790–1800
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
Examples from the Web for circulating medium
You smile; but admit that our paper is worth nothing,—it answers as a circulating-medium; and we hold it all ourselves.
British Dictionary definitions for circulating medium
finance currency serving as a medium of exchange
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012