Representative money alternatively called representative full-bodied money can be defined as the money that represent the commodity money to solve the non-portable problem of the commodity money to solve the non-portable problem of the commodity money, in fact it is usually made of paper, is in effect a circulating warehousing receipt for commodity money or full-bodied coins or there equivalent bullion. The representative full-bodied money itself has no significant value as a commodity, but it represent amount of metal with a commodity value equal to the value of money.
Definition