Search results for: “precious metal”
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Unparted Bullion
A bar of precious metal containing base metal impurities….
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Standard Bullion
Gold or silver in bars of the same composition as gold or silver coins. Since gold and silver coins consist of 90 precent precious metal and 10 percent base metal (usually copper), standard bullion would consist of a like mixture of precious and base metals. In effect, the bullion is suitable for im…
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Paper Basis
A system in which the national currency is not based upon precious metal….
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Monetary Reserves
Precious metal, or foreign currencies convertible into metal, held by a national treasury or central bank as security for money in circulation….
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Mint Par Of Exchange
The relationship, in terms of precious metal value, of two nations' currencies, derived by dividing the gold or silver content, by weight, of one nation's currency unit by the comparable metal content of another nation's currency unit….
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Full-Bodied Coinage
Coins containing precious metal with a market value at least equal to the face value….
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Double Standard
A program of precious metal coinage in which the nation employs two standards of value, usually gold and silver, each having a fixed ratio of value (the mint ratio). Under this system, either metal, in coined form, stands as legal tender. The double standard differs from bimetallism, with which it i…
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Debasement
The reduction, by governmental authority, of the amount of precious metal in the coinage below the conventional level. Debasement results in diluting the precious metal content of the coinage, usually to increase the supply of money for government purposes. The effect of such dilution is often a los…
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Commercial Bar
A bar of precious metal formed for use by jewelers, artists, or industry, rather than for monetary purposes….