You can have a system with redeemability or without, with 100% gold reserves or no gold reserves at all, with or without gold coins in circulation.

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Critics might fret that the recent slowdown in the growth in Japan's monetary base (banks' reserves at the central bank plus notes and coins in circulation) suggests that the Bank of Japan has tightened policy.

ECONOMIST: Taking the porridge test

This was inevitable: airlines have been issuing so many miles (for spending on the ground as well as in the air) that the total stock is worth more than all the dollar notes and coins in circulation.

ECONOMIST: The devaluation of everything

Minting the coins is under way, as a far greater number of coins than notes will be needed: some 76 billion coins are in circulation in the euro countries.

ECONOMIST: Unready for blast-off | The

The new coins, which come into circulation in the next few months, are being introduced because of the rising cost of copper.

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The Irish punt will continue to exist in dual circulation with the new notes and coins until 9 February.

BBC: 'Smooth' changeover to euro

To produce coins which, strictly speaking, it would be illegal to release for circulation in the United States.

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Controlling the rate at which coins were created, he said, meant there would never be a surge or shortfall in the number of bitcoins in circulation, either one of which could rapidly change the value of each coin.

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