Currency Valuation

CURRENCY VALUATION

Perhaps one of the greatest differences between macro- and micronational currencies is the actual value they claim to possess - often assessed based on their extent of circulation as well as their convertibility into hard currencies (or sometimes previous metals). Unlike regular currencies, few micronational currencies ever pretend to be a formal, legal tender medium of exchange - Rather, they often serve for symbolic purposes only. That is, they are often created to be proof of micronational sovereignty, whereas physical forms of currency (coins or banknotes), should they ever be minted, also tend to be kept within the micronational territory or sold solely as non-negotiable souvenirs. While some micronational currencies may claim to have a nominal value, it often functions more as an arbitrary price tag for collectors rather than an indicator of freely exchangeable currencies based on their actual monetary value.

In this brief article, I shall categorize and examine physical currencies issued by micronations based on the aforementioned criteria, namely whether they are used in local circulation as a medium of exchange, and whether they can be exchanged for hard currencies and precious metals. It then renders us four groups of micronational currencies: I) circulating and convertible, II) circulating but non-convertible, III) non-circulating but convertible, and finally IV) neither circulating nor convertible. Any information gathered on their status of circulation and their convertibility is based on existing accounts reported prior to the completion of this analysis so as to ensure its correctness and neutrality.

I. Circulating, convertible

Raam of the Global Country of World Peace (GCP1)

N/A

II. Circulating, non-convertible

Cosmo of the Republic of Niko Niko (NIK1)

N/A

III. Non-circulating, convertible

Imperial Solidus of the Empire of Atlantium (ATL2)

N/A

IV. Non-circulating, non-convertible

Mark of the Commonwealth of Dracul (DRA45)

N/A