Is it true or false that commodity monies consist of items of intrinsic value such as paper money?

Commodity money refers to currency that has intrinsic value, meaning the money itself is made up of material that has value beyond being utilized as a medium of exchange. This can include items such as gold, silver, or other precious metals and commodities like grains or livestock. These items can be used directly for trade or have value in their own right.

Paper money, on the other hand, does not possess intrinsic value in the same way that commodity money does. The value of paper currency is primarily based on the trust and confidence people have in the issuing government and the economy, not on the physical currency's material worth. Thus, while it may function as money, it does not qualify as commodity money because it lacks intrinsic value. Therefore, the statement that commodity monies consist of items of intrinsic value such as paper money is false.