money of account

American  

noun

1. a monetary denomination used in reckoning, especially one not issued as a coin, as the U.S. mill.

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money of account British  

noun

1. another name (esp US and Canadian) for unit of account

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Etymology

Origin of money of account

First recorded in 1685–95

Example Sentences

The money of account is dollars and cents, but, with the exception of the notes of the two local banks, the currency is British sterling.

From Encyclopaedia Britannica, 11th Edition, Volume 12, Slice 6 "Groups, Theory of" to "Gwyniad" by Various

Sester′tium, a money of account equal to 1000 sestertii.

From Chambers's Twentieth Century Dictionary (part 4 of 4: S-Z and supplements) by Various

An East Indian money of account, the sixteenth of a rupee, or about 2? cents.

From Webster's Unabridged Dictionary by Webster, Noah

The motley jumble of coins in use were rated in Halifax currency, a mere money of account or bookkeeping standard, with no actual coins to correspond, adapted to both English and United States currency systems.

From The Canadian Dominion; a chronicle of our northern neighbor by Skelton, Oscar Douglas

Hitherto there were four sorts of colonial money of account all differing from sterling, while Mexican dollars and numberless other forms of foreign money were in actual circulation.

From History of the United States, Volume 2 by Andrews, Elisha Benjamin