Theoutcomeofthefirststageofcirculation,ofthesale,providesmoney,thepointofdepartureofthesecondstage。Thefirstformofthecommodityhasnowbeenreplacedbyitsgoldenequivalent。Thisoutcomemaytobeginwithinvolveapause,sincethecommodityhasnowassumedaspecificdurableform。Thecommoditywhichwasnotause—valueinthehandsofitsownerexistsnowinaforminwhichitisalwaysusefulbecauseitcanalwaysbeexchanged,anditdependsoncircumstanceswhenandatwhichpointintheworldofcommoditiesitwillagainbethrownintocirculation。
Thegoldenchrysalisstateformsanindependentphaseinthelifeofthecommodity,inwhichitcanremainforashorterorlongerperiod。Theseparationandindependenceoftheactsofpurchaseandsaleisageneralfeatureofthelabourwhichcreatesexchange—value,whereasinbartertheexchangeofonediscreteuse—valueisdirectlytiedtotheexchangeofanotherdiscreteuse—value。
Thepurchase,M——C,isthereversemovementtoC——Mandatthesametimethesecondorfinalmetamorphosisofthecommodity。Regardedasgoldorasthegeneralequivalent,thecommoditycanbedirectlyexpressedintermsoftheuse—valuesofallothercommodities,allofwhichthroughtheirpricesseekgoldastheirhereafter,andsimultaneouslytheyindicatethekeynotewhichmustbesoundedsothattheirbodies,theuse—values,shouldchangeovertothemoneyside,whiletheirsoul,theexchange—value,isturnedintogold。Thegeneralresultofthealienationofcommoditiesistheabsolutelyalienatedcommodity。Theconversionofgoldintocommoditieshasnoqualitativelimitbutonlyaquantitativelimit,thefactthattheamountofgold,orthevalueitrepresents,islimited。Everythingcanbeobtainedwithreadymoney。Whereasthecommodityrealisesitsownpriceandtheuse—valueofsomeoneelse\'smoneythroughitsalienationasause—valueinthemovementC——M,itrealisesitsownuse—valueandthepriceoftheothercommoditythroughitsalienationasanexchange—valueinthemovementM——C。Justasbytherealisationofitsprice,thecommoditysimultaneouslyturnsgoldintorealmoney,sobyitsretransformationitconvertsgoldintoits（thecommodity\'s）ownmerelytransitorymoneyform。
Becausecommoditycirculationpresupposesanadvanceddivisionoflabourandthereforealsoadiversityofwantsonthepartoftheindividual,adiversitybearinganinverserelationtothenarrowscopeofhisownproduction,thepurchaseM——Cwillattimesconsistofanequationwithonecommodityastheequivalent,andatothertimesofaseriesofcommodityequivalentsdeterminedbythebuyer\'sneedsandtheamountofmoneyathisdisposal。Justasasalemustatthesametimebeapurchase,sothepurchasemustatthesametimebeasale;M——CissimultaneouslyC——
M,butinthiscasegoldorthepurchasertakestheinitiative。