Money, money circulation and credit - стр. 16
The full-bodied (real) money is money the nominal (designated on it) value of which corresponds to its real value, i.e. to the value of metal of which it is produced (an obverse of a coin – adverse, a reverse of a coin – reverse, a ridge – edge).
The first coins appeared in about the XII>th century B.C.E. in China and in the VII>th century B.C.E. in the ancient Lydian State (the Asia Minor). The oldest money which were discovered on the territory of Kazakhstan are the ancient coins found during the diggings of such towns as Otrar, Taraz, Turkestan, Balasagun, Suyab. The earliest are dated from the VI>th century. Before the XXII>nd century they were produced manually from copper, bronze, gold. As a rule the coins had the images of a family coat of arms – tamga and indicated the title of the main sovereign ruler – kagan. At that times each of them issued their own coins with their title that’s why they greatly differed from each other not only by the images but also by their thickness and form.
Later in the middle centuries in Kypchakiya the territory of which marched with the territory of modern Kazakhstan a silver tanga and a copper poul circulated. The copper coins usually were used for everyday buyings and silver for the foreign trade operations.
After Kazakhstan joint to Russia in the beginning of the XVIII>th century little by little the Russian coins and monetary units began to circulate in our country. In the pre-revolution Kazakhstan during the monetary reform of 1895-1897 the system of gold monometallism was established with the gold-coin circulation.
The gold, silver and copper coins were used in circulation. The basic type of the monetary units was the State Bank credit notes which on 92 % were ensured by gold. The basic part of the monetary stock consisted of the nominal instruments of circulation which could be freely exchanged on the full-bodied money – gold coins and thus they had the population’s credibility.
Having an inmost value the full-bodied money depends on neither the other types of wealths nor the market conditions in which it circulates. All the types of commodity money belong to the full-bodied money – gold and silver coins.
The token money (the substitute of real money) is money the nominal value of which is higher than real, i.e. its purchasing power exceeds the intrinsic value of the commodity which plays role of the monetary relations bearer. The purchasing power of this money is determined by the market conditions exceptionally whereby the inmost value of token money doesn’t influence on it. The token money includes all the types of paper money, credit notes and metal symbols of value (billion coins – small coins manufactured from copper and aluminum).