Face value

According to DIN 40200, a denomination, a suitable rounded value of a quantity to describe or identify a device or system. Such values ​​are usually referred to a word combination of " nominal " and the size meant, for example, is called the nominal voltage nominal voltage.

Means of payment

The par value or nominal value is a combination of a numerical value and a unit of currency, which have legal value, cash a currency according to their denomination. It is determined by the issuing institution, usually the National Bank. Typically, it is printed on the cash or embossed into this. However, there was in the past, coins, in which no nominal value was marked, as in ancient coins, pennies of the Middle Ages or even in many modern ducats, but which nevertheless have a nominal value or denomination.

Collector coins (especially commemorative coins and old and rare coins) can have a collector's value, which is often much higher than the face value. For coins made ​​of precious metals often exceeds the value of the metal ( eigenvalue of the material) the nominal value, see bullion coins.

If the issuing authority a cash redeem limited, does not guarantee the general circulation ability or even declared to be invalid, the actual value may be lower than the nominal value. The value to which a means of payment in a transaction is actually accepted, ie market value. In stable and regulated currency proportions of the face value and the market value are identical; this is the case in most industrialized nations.

Nominal value of securities

The nominal value is also the case of securities.

With a zero coupon bond in the classical sense is called the payoff than face value.

For bonds in general, the percent notation is common: The bond has a fixed nominal value and its current price is specified relative to the nominal value. A 50 - euro bond at a price of 1000% ie costs 500 euros.

This used to be common even in shares. Until a few years ago found at the Munich Stock Exchange a few percent listed small companies. For decades, however, the indication of share price has prevailed in itself, since the late 1990s, the par-value shares (no-par share), which corresponds to only one of the current total number of shares proportionate share of the capital stock. The nominal value should not be confused with the issue price, this is determined in the capital market through supply and demand.

• N: nominal value of a share
• G: share capital of the joint-stock company
• A: Number of shares

Used to have the shares in Germany to a nominal value are ( § 6 AktG old version ), with a minimum principal amount of initially 50 and later DM DM 5 per share pursuant to § 8 paragraph 1 sentence 1 AktG old version was prescribed. Although the shares could have different denominations, but were determined by the stated minimum nominal amounts.