Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar.
A money-back guarantee, also known as a satisfaction guarantee, is essentially a simple guarantee that, if a buyer is not satisfied with a product or service, a refund will be made.
The 18th century entrepreneur Josiah Wedgwood pioneered many of the marketing strategies used today, including the satisfaction-or-money-back guarantee on the entire range of his pottery products. He took advantage of his guarantee offer to send his products to rich clientele across Europe unsolicited. The money-back guarantee was also a major tool of early U.S. mail order sales pioneers in the United States such as Richard Sears and Powel Crosley Jr. to win the confidence of consumers. (Full article...)
... that the first women's dormitory built at Hampton University was partially paid for with money collected by the school's choir in tours led by Thomas P. Fenner?
... that Colin Stubs spent the prize money from his first international tennis title on an old Volkswagen to travel around Europe?
Image 19Sino Tibetan silver tangka, dated 58th year of Qian Long era, reverse. Weight 5.57 g. Diameter: 30 mm (from Tibetan tangka)
Image 20Gold coins are an example of legal tender that are traded for their intrinsic value, rather than their face value. (from Money)
Image 21Tibetan kong par tangka, dated 13-45 (= AD 1791), reverse (from Tibetan tangka)
Image 22"Bent bar" of the Gandhara Janapda unearthed with Achaemenid and Greek coins, Gandhara, c.350 BC. (from Punch-marked coins)
Image 23A person counts a bundle of different Swedish banknotes. (from Money)
Image 24A 640 BC one-third staterelectrum coin from Lydia. According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins. It is thought by modern scholars that these first stamped coins were minted around 650 to 600 BC. (from Money)