How are coins and banknotes different?

Coins and banknotes are different types of money if we consider their physical component. Coins are usually made from a metal alloy, while banknotes are made from special paper. The difference also usually lies in how long a coin or banknote can last. Coins tend to be much more durable. as a rule, banknotes are issued of much larger denominations than coins. Coins are used as a change, in such cases when it is unprofitable to issue banknotes, as they will quickly deteriorate.