medium of exchange

American  

noun

1. anything generally accepted as representing a standard of value and exchangeable for goods or services.

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medium of exchange British  

noun

1. anything acceptable as a measure of value and a standard of exchange for goods and services in a particular country, region, etc

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Etymology

Origin of medium of exchange

First recorded in 1730–40

Example Sentences

Metal coins may be just about the oldest medium of exchange still in use today, but ensuring their worth requires some of the most state-of-the-art technology available.

From Science Daily • May 14, 2024

For most of crypto’s existence, we’ve been debating just what sort of financial product it is: a medium of exchange, like the dollar, or a store of value, like gold or stock certificates.

From Washington Post • Dec. 11, 2022

It is frequently mentioned as a measure and medium of exchange in Icelandic legal texts, as well as sales accounts, church inventories and farm registers, from the 1100s into the 17th century.

From Scientific American • Sep. 15, 2022

A currency, as economists understand it, must fulfill three functions: It must be a relatively stable store of value, a commonly understood unit of account, and a widely accepted medium of exchange.

From Slate • May 18, 2022

Cotton was both needed and easily stored, which made it useful as a medium of exchange or status.

From "1491" by Charles C. Mann