For money to able to perform the four major functions previously discussed, it is necessary that the materials used to represent such money must posses a number of essential attribute.
At the outset, money must posses general acceptability.
Obviously, materials having economic values, like utility, among others, will command general acceptability among the people aside from their real and intrinsic value.
The general acceptability of a commodity used as money is likewise influenced, if not actually determined, by its stability of value, that is, its purchasing power is not widely susceptible to wide and violent fluctuations.
Otherwise, such kind of money will fail in the discharge of its role as a standard means of deferred payment.
Money should likewise possess the attribute of portability, which means that it should not only be easy to carry but should, moreover, command great values contained in small bulk.
Imagine if money is very bulky as well as very heavy! Such a circumstance will slow down if not actually hinder exchange transaction.
Thus, in addition to metallic money, there is in circulation paper money of various denominations for such purpose.
The standard money must be capable of easy recognition or what is known as the attribute of cognizability.
This will help minimize counterfeiting and eliminate confusion.
This is the purpose behind the minting of coins into desired sizes and weights with marks of sovereignty of the imposing country duly stamped on them.
In fact, no other prerogative is more zealously guarded by the government than that of coinage for indeed, the existence of spurious coins and fake bills can definitely result in the loss of confidence on the part of the public and thus usher their loss of general acceptability.
In the Philippines, the minting of coins and printing of paper notes is protected by our laws.