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TeachMeFinance.com - explain currency currency -- coins and paper money, which circulate as a legal medium of exchange. historic definition... Currency -- That which is in general use and circulation as money; see Money. Currency, however, is commonly construed as paper money, whether United States notes (greenbacks), gold certificates, silver certificates, Treasury notes (silver-purchase notes) or bank notes. Coins of a denomination less than $1 are designated as fractional currency. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.