Get managed metadata using Powershell

Question

I want to copy the single managed metadata Field [Base currency] Value.

$newItem["Base Currency"] = $item["Base currency"] it's wrong because it's a managed metadata.. we don't get the value of managed metadata as a single line of text

$snapin = Get-PSSnapin | Where-Object {$_.Name -eq 
 'Microsoft.SharePoint.Powershell'}
if ($snapin -eq $null) { Add-PSSnapin Microsoft.SharePoint.Powershell }

$web = Get-SPWeb http://intranet/
$listProspect = $web.Lists["Prospects"]


$Fund = Get-SPWeb http://intranet/cccc
$listFunds = $Fund.Lists["New Fund"]


foreach($item in $listProspect.Items | Where {$_["Approved"] -eq 
"string;#Approved"}) 
#Approved is a calculated Column so it's input have the value string;#..

{
    $newItem = $listFunds.Items.Add();

    $newItem["Title"] = $item["Client's Name"]
    **$newItem["Base Currency"] = $item["Base currency"]**

    $newItem.Update()

}

Answer 1

This is the solution :

$snapin = Get-PSSnapin | Where-Object {$_.Name -eq 
'Microsoft.SharePoint.Powershell'}
if ($snapin -eq $null) { Add-PSSnapin Microsoft.SharePoint.Powershell }

$web = Get-SPWeb http://intranet/
$listProspect = $web.Lists["Prospects"]


$Fund = Get-SPWeb http://intranet/cccc
$listFunds = $Fund.Lists["New Fund"]


foreach($item in $listProspect.Items | Where {$_["Approved"] -eq 
"string;#Approved"}) 
#Approved is a calculated Column so it's input have the value string;#..

{
$newItem = $listFunds.Items.Add();

$newItem["Title"] = $item["Client's Name"]


        $CurrencyFieldValue = $item["Base currency"] -as 
        [Microsoft.SharePoint.Taxonomy.TaxonomyFieldValue];            

    $CurrencyFieldValue.TermGuid; 

    $newItem["Base Currency"] = $CurrencyFieldValue.TermGuid;

$newItem.Update()

}