 Take the example of money (see Searle 1995: 1): there is an enormous practical difference between a blank piece of paper and a five-dollar bill, but what does this difference consist in? To this some authors, including Searle (1995, 2010) and Tuomela (2002), have replied that the existence of money depends at least partly on collective intentional attitudes, or on a shared practice of treating certain pieces of paper, and not others, as money. This mechanism, which according to Searle (2010) involves the imposition of status functions and specific deontic structures, generalizes to the way communities create and maintain social institutions, to public offices, conventions and cultural sites (such as the Taj Mahal); collective attitudes such as collective acceptance seem to play an ineliminable role in the constitution of such social and institutional facts. The precise structure of collective acceptance, however, is not all that clear. While it is meant to play the role of both creating and maintaining institutional facts—it is by way of collective acceptance that we say that such-and-such is (or counts as) money and it is by way of collective acceptance that we acknowledge of such-and-such that it is (or counts as) money—, it is not easy to see how an attitude, whether collective or not, can fulfill these two functions with opposing directions-of-fit (see Laitinen 2014).