What is Denomination?
Usually associated with currency, a denomination is the value specified on a monetary instrument.
How Does Denomination Work?
Denomination values are graduated and usually divisible by some common denominator (hence, 'denomination'). For example, in addition to the $1 bill, denominations of U.S. paper money include $5, $10, $20, $50, and $100 notes, all divisible by 5.