money of account

American  

noun

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

---

money of account British  

noun

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

---

Etymology

Origin of money of account

First recorded in 1685–95

Example Sentences

Dollars, and decimals of dollars, were adopted as the money of account by universal consent, as may be inferred from the unanimity exhibited by the states in following the example of congress.

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

Having possession of the mints, the right of coinage vesting in the lord, the rulers of previous centuries have covered the pages of history with the records of successive debasements of the money of account.

From Readings in Money and Banking Selected and Adapted by Phillips, Chester Arthur

Page 157 1 The peso was a money of account, commonly supposed to be worth fifteen reals vellón.

From The Philippine Islands, 1493-1803 — Volume 03 of 55 1569-1576 Explorations by Early Navigators, Descriptions of the Islands and Their Peoples, Their History and Records of the Catholic Missions, as Related in Contemporaneous Books and Manuscripts, Showing the Political, Economic, Commercial and Religious Conditions of Those Islands from Their Earliest Relations with European Nations to the Beginning of the Nineteenth Century by Blair, Emma Helen

The denominations of the colonial money of account were also still in daily use, and, indeed, might be heard so late as the Civil War.

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

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