Money in the broader sense

Money in the broader sense is everything commonly used as money or readily convertible to money at face value. Money in the narrower sense and all money-substitutes, including token money and fiduciary media.

Note: While the term "money in the broader sense" includes both money in the narrower sense and all forms of money-substitutes, the quantity of money in the broader sense excludes any duplication of claims to money in the narrower sense and such money in the narrower sense that is held as a reserve against such claims. Money in the broader sense is the basic economic definition of money, as distinguished from legal definitions. It is the sense in which the term "money" is used in discussions of the problems of catallactics and the money relation.