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seigniorage |
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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. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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No references found | Speaking at the annual meetings of the International Monetary Fund and World Bank in Istanbul, he said: 'It is timely to emphasize that such a system also creates a more equitable method of sharing the seigniorage derived from providing global liquidity. Speaking at the annual meetings of the International Monetary Fund and World Bank in Istanbul, he said: "It is timely to emphasise that such a system also creates a more equitable method of sharing the seigniorage derived from providing global liquidity. Speaking at the annual meetings of the International Monetary Fund and World Bank in Istanbul, he said: 'It is timely to emphasise that such a system also creates a more equitable method of sharing the seigniorage derived from providing global liquidity. |
seigniorage |
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