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TeachMeFinance.com - explain Representative money historic definition... Representative money -- Representative money is anything promising to pay money which circulates as a medium of exchange. It is usually made of paper, but sometimes of a cheap metal. In the case of paper money the promise to pay is printed on it ; in the case of metal money the promise to pay is expressed in the laws. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 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.