Free Coinage
Summary of Free Coinage
The system under which any individual may take bullion to the mint and have it coined. In the United States free coinage of silver persisted from 1792 to 1873; free coinage of gold was practiced from 1792 to 1933. The government's charge for converting bullion to coin is known as brassage; any premium beyond the brassage is seigniorage. If no charge is imposed, this is called gratuitous coinage.
(Main Author: William J. Miller)
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