Well, if you widen your definition of commerce enough: yes.

But to be honest, money that changes hands often looks a lot more 'commerce-y' to me than money that just sits in a drawer until it is redeemed once.

From a global perspective maybe, from the spender's perspective any currency can only be spent once.

Whether you obtain a car by spending your bill or obtain gold by redeeming your bill... you gave your bill in exchange for the good.

That's an interesting perspective to consider.

From an individuals perspective, there's a difference between letting my money sit under my mattress or letting it accumulate interest in an account.

I can only spend it once in the end, but the money did different things for me while I was still waiting and deciding.