Metallic money issued by public authority.
2. This term is used in contradistinction to paper money, which in some
countries is emitted by the government, and is a mere engagement which
repre-sents specie. Bank paper in the United States is also called paper money.
Specie is the only constitutional money in this country. See 4 Monr. 483.
Source: Bouviers Law Dictionary 1856 Edition