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seigniorage |
Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia | 0.04 sec. |
seigniorageCharge over and above the expenses of coinage that is deducted from the bullion brought to a mint to be coined. From early times, coinage was the prerogative of kings, who prescribed the amount they were to receive as seigniorage. This was sometimes compensated for by replacing part of the gold or silver with base metal, resulting in debased coinage. In England all such charges were abolished in 1666. Because coins are now issued only as token money, they no longer need to possess a high intrinsic value, and low-standard silver or base-metal alloys are sufficient. The margin between the cost of producing a coin and its currency value is known as seigniorage. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Hence the seigniorage enjoyed by European governments still in monetary union would decrease. Mint reports a 20 percent seigniorage (profit) on minting cents, they will do so well into the future. Ryan's bill provides that if Iraq becomes officially dollarized, the United States could rebate to Iraq most of the seigniorage (profit) from the dollar paper money and coins used to replace Iraqi dinars in circulation. |
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