Extrinsic value is value which arises because of an agreement: Although the intrinsic value of a €100 note is not much more than the value of any similar piece of paper with a comparable graphic on it, it has a practical value (an extrinsic value) of €100. This type of value is regularly associated with Representative money. If its issuing authority were to fail to honor the note's value, it would soon become nearly worthless.
Famous quotes containing the word extrinsic:
“Authors communicate with the people by some special extrinsic mark; I am the first to do so by my entire being, as Michel de Montaigne.”
—Michel de Montaigne (1533–1592)