Cold hard money is a term used to describe CASH, which is money in the form of physical currency such as coins and paper bills. It is often contrasted with other forms of payment such as credit cards, checks, or electronic transfers. Cold hard money is preferred by many people because it is tangible and can be used immediately without having to wait for a bank transfer or other form of payment to clear. Additionally, it is not subject to the same fees and interest rates that come with other forms of payment.