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What is a medium of exchange?

What is a medium of exchange? Here are some definitions.

Noun
  1. An intermediary used in trade to avoid the inconveniences of a pure barter system, such as money.
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Accordingly, money is brought forth into society to be used as a medium of exchange to facilitate the trade of goods of all kinds.
If a certain type of good is employed as a medium of exchange, one speaks of money.
Given a medium of exchange, people can trade even if their wants and needs don't directly coincide.
But with personal property creatable on demand from sunlight and dirt, it's not clear what the medium of exchange would be.
He then shifts to the use of gold in Greece, Rome, and Byzantium, initially as adornment but later as a medium of exchange.
The same qualities that made gold a desirable medium of exchange in the ancient world make orichalc useful to mages.

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