Ma'aunin takarda yana ɗaukar kuɗin takarda a matsayin kayan yawo. Kuɗin takarda magana ce ga takardun ba da lamuni masu yawo da aka bayar don amfanin mai riƙe da su, waɗanda ke wakiltar takamaiman bashi wanda Gwamnati ko hukumar kuɗi da ta ba da su ke tabbatarwa, idan wannan takarda tana maye gurbin zinariya ko azurfa, ko takarda mai tabbaci wadda zinariya ko azurfa ke goyon bayanta.

The paper standard takes paper currency as the tool of circulation. Paper currency is an expression for circulated vouchers issued for the benefit of its bearer, which represent specific debt secured by the State or currency authority that issued it if this paper is a substitute for gold or silver, or secured paper backed by gold or silver.

Ana iya amfani da takardar kuɗi a matsayin madadin zinariya ko azurfar da Gwamnati ta mallaka, ta yadda take wakiltar su gaba ɗaya, watau zinariya ko azurfar da take goyon bayan wannan takardar kuɗin da ke yawo tana wakiltar kashi 100% na darajarta. Saboda haka, mai riƙe da wannan takardar kuɗin da ke wakilta yana da hakkin ya musanya ta zuwa zinariya ko azurfa, bisa ga wannan goyon baya, duk lokacin da ya so ba tare da wani takura ko iyaka ba. Wannan kuɗin wakilta, a zahiri, ana ɗaukarsa a matsayin na tsarin karafa. Abin da kawai ke faruwa shi ne, maimakon zinariya ko azurfar kansu su yi yawo, wannan kuɗin wakilta ne ke maye gurbinsu a yawo, a matsayinsa na wakilinsu.

Paper currency can be a substitute for gold or silver possessed by the State such that it represents it completely i.e. the gold or silver backing this circulating paper represents 100% of this value. So the bearer of this representative paper currency has the right to exchange it into gold or silver, according to this cover, whenever he wants without any restriction or limit. This representative currency is considered, in reality, to be of the metallic system. All that happens is that instead of circulating gold or silver themselves, this representative currency takes their place in circulation in its capacity as their representative.

Hakazalika, wannan takardar kuɗi za a iya rufe wani ɓangare na darajarta da zinariya ko azurfa, a wani ƙayyadadden adadi kuma iyakantacce. Irin wannan takardar kuɗi ana kiranta "kuɗin da aka tabbatar da shi" (secured currency). Duk da haka, ba a rufe ta gaba ɗaya da zinariya da azurfa ba, amincewarta tana samuwa ne daga amincewa da hukumar da ke fitar da ita. Ɓangaren da zinariya ko azurfa ke rufe shi a cikinta shi ne kuɗi mai wakiltar zinariya ko azurfa, yayin da sauran ɓangaren da ba a rufe ba shi ne takardar kuɗi da aka tabbatar da ita, wadda ƙarfin yawo ya dogara ga amincewar mutane ga hukumar da ta fitar da ita.

Also, this paper currency can be covered for a part of its value in gold or silver, in a specific and limited proportion. Such paper currency is known as “secured currency.” Despite this it is not covered completely by gold and silver, its trustworthiness results from the trustworthiness in the authority that issues it. The portion within it covered by gold or silver is currency representative of gold or silver, whereas the remaining not covered portion is secured paper currency whose circulation strength depends upon people’s confidence in the authority that issued it.

Nau'i na uku na takardun kuɗi shi ne takardun kuɗi waɗanda ba su da wani goyon bayan zinariya ko azurfa ko kaɗan, kuma ba sa wakiltar zinariya ko azurfa. Ana kiran wannan "takardun kuɗi na tilas" wanda ba a iya musanya shi da zinariya ko azurfa. Darajarsa ta dogara ne da ƙarfin yardar jama'a na yafe bashi wanda doka ta ba shi. Ba shi da ƙima ta zahiri a kansa; a maimakon haka, darajarsa ta dogara ne da dokar da ke ɗaura masa muhimmanci a matsayin kuɗi na tilas. Idan doka ta soke mu'amala da shi, ko mutane suka rasa amincewa da shi, to zai zama bai da wata daraja.

The third type of paper currency is paper currency without any gold or silver backing at all, nor is it representative of gold or silver. This is known as “compulsory paper currency” that is not exchangeable for gold or silver. Its value depends upon the strength of the public remission of debt which the law grants to it. It has no intrinsic value in itself; rather its value depends upon the law that obliges it, as compulsory currency. If the law were to abolish transactions involving it or people lost confidence in it, then it would become worthless.