In the context of intrinsic value, intrinsic value refers to the inherent worth of a good or asset based on its fundamental qualities, as opposed to its value as determined by external factors like market demand.
- Paper currency: No intrinsic value, as it is essentially just paper and has value because of government backing and societal agreement to accept it as a medium of exchange.
- Coins: Some coins (like those made from precious metals) may have intrinsic value based on the metal content, but modern coins made from base metals would have little to no intrinsic value.
- Checkable deposits: No intrinsic value. They represent a claim to currency but have no intrinsic value themselves.
- Gold and silver: Have intrinsic value due to their physical properties, rarity, and historical use as money.
Based on this analysis, paper currency, checkable deposits, and in many cases coins (depending on their metal content) can be considered to have no intrinsic value.