Nope, it's all money. The latter has a promise of convertibility by the issuer, but this promise can fail. The only promise that can't fail is the promise to

Nope, it's all money. The latter has a promise of convertibility by the issuer, but this promise can fail. The only promise that can't fail is the promise to redeem for an alternate form of the same currency (fiat-backed bonds from the issuer, like treasuries e.g.).