The laundry list of money’s material characteristics is huge, as listed by Carl Menger, “On the Origins of Money,” in Economic Journal 2, trans C.A. Foley, 239-255.
Originally published in 1892 (Auburn AL: Ludwig von Mises Institute, 2009), 29-32.
you can pick 4, i went with 7, without a clear purpose of what you’re trying to convey, it could go on and on.
Below is the except from my book:
Just as a steel sword surpasses a bronze one in strength and
endurance, the material characteristics of money dictate its utility and longevity.
Austrian economists refer to this as “salability,” a composite measure of the social circumstances and material characteristics that determine money’s functional potency.
But for our purposes, we need only highlight several key material
characteristics that define its strength and viability:
1) Scarce: The supply of money must be limited; otherwise, its value erodes.
Gold is scarce; pebbles not so much.
2) Portable: Money must be easy to transport. Gold coins fit in your pocket; cows do not.
3) Divisible: Money must be easily divided into smaller, standardized units.
Diamonds resist division without loss of value; gold coins split cleanly and
consistently.
4) Durable: Money must withstand the test of time and the elements. Paper
deteriorates; gold endures.
5) Fungible: Each unit must be interchangeable, holding the same value. A one-ounce gold coin equals another of identical weight and purity; unique items, like artwork or rare gems, fail this test.
6) Possessable: Individuals must be able to control, own, and transfer money without interference. Gold can be held in hand or secured in vaults; land and livestock, by contrast, are far harder to transport or conceal.
7) Acceptable: Money must be recognized and used as a trusted medium of exchange. Gold was accepted across empires; a seashell holds little weight in most markets today.
