statutory

法定　—　Institutions

Laid down by law.

Zhongtong Yuanbao Jiaochao noteYuan, Zhongtong era (from 1260) Wampum (belt of shell beads)17th century (the age of trade money) Pennsylvania note printed by Franklin18 June 1764 (as printed)

The legal value and the actual circulating value often diverge. This very divergence is what makes monetary history interesting.