Deprecated: The money type is deprecated. Use numeric or decimal instead, in combination with the to_char function. The money type may become a locale-aware layer over the numeric type in a future release.
The money type stores U.S.-style currency with fixed decimal point representation. If Postgres is compiled with locale support then the money type uses locale-specific output formatting.
Input is accepted in a variety of formats, including integer and floating point literals, as well as "typical" currency formatting, such as '$1,000.00'. Output is in the latter form.
Read the upstream documentation. For corrections, first check the current version.