What is FRACTIONAL CURRENCY?

Coins or paper currency with value less than one of a basic currency unit. Such coins are pennies, nickels, dimes, quarters and half dollars in the US. Typically, government-minted.

More On This Topic



Link to This Definition
Did you find this definition of FRACTIONAL CURRENCY helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary