money of account


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Related to money of account: Unit of account

money of account

n.
A monetary unit in which accounts are kept and that may or may not correspond to actual current denominations.

money of account

n
(Economics) another name (esp US and Canadian) for unit of account

mon′ey of account′


n.
a monetary denomination used in reckoning, esp. one not issued as a coin, as the U.S. mill.
[1685–95]
References in classic literature ?
* Before the Revolution, each province had its own money of account though neither coined any but copper pieces.
From the time of Charlemagne to about 1250, there was only one minted coin struck in Europe, the silver denarius, and only one money of account, the pound of 240 denarii.