good money

good money definition - business

good money

  1. In commercial banking, federal funds that clear and are available for use on the same day. In contrast, clearinghouse funds that result from the deposit of personal and business checks might not be available for several days.
  2. In economics, money that has the greatest intrinsic value. For example, gold coins have substantial intrinsic value while paper money does not. See also Gresham's Law.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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