Coin Devaluation Term

Mark A Mandel mam at THEWORLD.COM
Thu Apr 4 18:30:05 UTC 2002

On Thu, 4 Apr 2002, Grant Barrett wrote:

#I cannot for the life of me remember the phrase we discussed some time ago
#that is used to describe the situation in which the face value of a coin is
#worth less than the metal contained to make the coin, usually resulting in
#the coins disappearing as they are sold for scrap.

(face value) - (specie value) = seigneurage, the sovereign's markup (not
counting costs of labor). So, negative seigneurage? Try an archive
search for "coin" or "face value".

-- Mark A. Mandel
   Linguist at Large

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