You can have a system with redeemability or without, with 100% gold reserves or no gold reserves at all, with or without gold coins in circulation.

FORBES: My Thoughts On Lewis Lehrman's Gold Standard

Banks enable people to borrow money, and, today, by operating electronic-transfer systems, they allow commerce to take place without notes and coins changing hands.

NEWYORKER: What Good Is Wall Street?

Booth slapped a few coins on the bar and left without saying a word.

NPR: Excerpt: 'Manhunt'

The theologians carried sandwiches but no coins, and the city of Saint Asaph was without great fascination, so they simply visited the once-Catholic cathedral to see the restoration of the intricately wood-carved choir stalls that Oliver Cromwell tried to destroy by using them as cattle pens.

NPR: Excerpt: 'Exiles'