Intrinsic

This week's numismatic term 'Intrinsic'. The actual metal value of the coin. In the past the intrinsic or metal value was very close to the face value of the coin. It had to be that way otherwise no one would accept the coins in payment. Today we are told that the piece of metal has a face value of £5 and we accept it although the intrinsic value might well be only a few pence.