Abstract: A medium of exchange that is not separated from the backing item of value, has variable value and authentication protections sufficient to retain the trust of consumers is formed as a laminate having a backing layer and a precious metal foil layer. The precious metal foil layer has a predetermined weight and the laminate is dividable into multiple portions each one of which is a determinable fraction of the predetermined weight. An authentication seal is formed in an obverse side of the instrument and each one of the multiple portions contains indicia on a rear side thereof identifying the determinable fraction.