Token money / mettalic coins

Token money on the other hand ,has no commodity value whatsoever. Its value is derived wholly from the fact that it is accepted as the means of payment for the purchase and sale of goods and services in the economy. Metallic coins of small value whose real worth is less than their money value for which they circulate as medium of exchange are also example of token money.
Token money, in other words is generally fiat money since without government fiat few people, if any, would have accepted it as the means of payment generally. image source
image source