Denomination

Business, Legal & Accounting Glossary

Definition: Denomination



What is the dictionary definition of Denomination?

Dictionary Definition


  1. uncountable The act of naming or designating.
  2. countable That by which anything is denominated or styled; an epithet; a name, designation, or title; especially, a general name indicating a class of like individuals; a category; as, the denomination of units, or of thousands, or of fourths, or of shillings, or of tons.
  3. countable A class, or society of individuals, called by the same name; a sect or religious sub-group; as, a religious denomination.

Full Definition of Denomination


The word denomination has three distinct but closely related uses in a financial context. First, in a given currency, the denomination of legal tender specifies the face value of a given coin or note. In the US, there are four different common coins: the penny ($0.01), nickel ($0.05), dime ($0.10), and quarter ($0.25), and each is one denomination. Similarly, the $1, $5, $10, $20, $50, and $100 notes are each another denomination. The second meaning of denomination applies to most securities. For example, a bond’s denomination is its par value, such as $1000. A third use of the word denomination is currency denomination, for a description of situations when the type of currency itself is under consideration. For instance, a company must decide to price goods for export in the denomination of one country or another.


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Denomination. PayrollHeaven.com. Retrieved May 25, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/denomination/

Definition Sources


Definitions for Denomination are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 9th February, 2020 | 3 Views.