Specie

In finance, "specie" refers to physical money in the form of coins or gold and silver bullion, rather than paper currency or digital funds. Historically, it was used to distinguish tangible, precious metal money from representative or fiat currency, which is backed by trust or government regulation. Specie served as a stable store of value and medium of exchange in trade. Today, the term is less common but still appears in contexts like shipping or historical finance to denote actual coins or precious metals, emphasizing the physical, tangible aspect of money or assets.