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Copernicus Law
In economics, Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value, the more valuable commodity will gradually disappear from circulation. The law was named in 1857 by economist Henry Dunning Macleod after Sir Thomas Gresham (1519–1579), an English financier during the Tudor dynasty. Gresham had urged Queen Elizabeth to restore confidence in then- debased English currency. The concept was thoroughly defined in Renaissance Europe by Nicolaus Copernicus and known centuries earlier in classical Antiquity, the Near East, and China. "Good money" and "bad money" Under Gresham's law, "good money" is money that shows little difference between its nominal value (the face value of the coin) and its commodity value (the value of the metal of which it is made, often precious metals, such as gold or silver). The price spread betwe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coin
A coin is a small object, usually round and flat, used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Coins often have images, numerals, or text on them. The faces of coins or medals are sometimes called the ''obverse'' and the ''reverse'', referring to the front and back sides, respectively. The obverse of a coin is commonly called ''heads'', because it often depicts the head of a prominent person, and the reverse is known as ''tails''. The first metal coins – invented in the ancient Greek world and disseminated during the Hellenistic period – were precious metal–based, and were invented in order to simplify and regularize the task of measuring and weighing bullion (bulk metal) carried around for the purpose of transactions. They carried their value within the coins themselves, but the stampings also induced manip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fineness
The fineness of a precious metal object (coin, bar, jewelry, etc.) represents the weight of ''fine metal'' therein, in proportion to the total weight which includes alloying base metals and any impurities. Alloy metals are added to increase hardness and durability of coins and jewelry, alter colors, decrease the cost per weight, or avoid the cost of high-purity refinement. For example, copper is added to the precious metal silver to make a more durable alloy for use in coins, housewares and jewelry. Coin silver, which was used for making silver coins in the past, contains 90% silver and 10% copper, by mass. Sterling silver contains 92.5% silver and 7.5% of other metals, usually copper, by mass. Various ways of expressing fineness have been used and two remain in common use: ''millesimal fineness'' expressed in units of parts per 1,000 and '' karats'' or ''carats'' used only for gold. Karats measure the parts per 24, so that 18 karat = = 75% gold and 24 karat gold is considered ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Half-dollar Coin
The half dollar, sometimes referred to as the half for short or 50-cent piece, is a United States coin worth 50 cents, or one half of a dollar. In both size and weight, it is the largest circulating coin currently minted in the United States, being in diameter and in thickness, and is twice the weight of the quarter. The coin's design has undergone a number of changes throughout its history. Since 1964, the half dollar depicts the profile of President John F. Kennedy on the obverse and the seal of the president of the United States on the reverse. Although seldom used today, half-dollar coins were once common in circulation and saw regular use alongside other denominations of US coinage, but have become uncommon in general circulation for several reasons. Half-dollars were produced in fairly large quantities until the year 2002, when the U.S. Mint reduced production of the coin and ceased minting them for regular circulation. As a result of its decreasing usage, many pre-200 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Two Stacks Of Half Dollars, One Silver, One Clad - Effects Of The Coinage Act 1965
2 (two) is a number, numeral and digit. It is the natural number following 1 and preceding 3. It is the smallest and the only even prime number. Because it forms the basis of a duality, it has religious and spiritual significance in many cultures. Mathematics The number 2 is the second natural number after 1. Each natural number, including 2, is constructed by succession, that is, by adding 1 to the previous natural number. 2 is the smallest and the only even prime number, and the first Ramanujan prime. It is also the first superior highly composite number, and the first colossally abundant number. An integer is determined to be even if it is divisible by two. When written in base 10, all multiples of 2 will end in 0, 2, 4, 6, or 8; more generally, in any even base, even numbers will end with an even digit. A digon is a polygon with two sides (or edges) and two vertices. Two distinct points in a plane are always sufficient to define a unique line in a non ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Penny (English Coin)
The English penny (plural "pence"), originally a coin of pure silver, was introduced by King Offa of Mercia. These coins were similar in size and weight to the continental ''denier (coin), deniers'' of the period and to the Anglo-Saxon sceats which had preceded it. Throughout the period of the Kingdom of England, from its beginnings in the 9th century, the penny was produced in silver. Pennies of the same nominal value, of a pound sterling, were in circulation continuously until the creation of the Kingdom of Great Britain in 1707. Etymology The name "penny" comes from the Old English ''pennige'' (), sharing the same root as the German language, German ''Pfennig''. Its abbreviation d. comes from the Roman ''denarius'' and was used until Decimal Day, decimalisation in 1971. Idioms Due to their ubiquity pennies have accumulated a great number of idioms to their name usually recognizing them for their commonality and minuscule value. These might include: *cut (one) off with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sixpence (British Coin)
The United Kingdom, British sixpence () coin, sometimes known as a tanner, was a denomination (currency), denomination of Coins of the United Kingdom, sterling coinage worth of a Pound (currency), pound or half a Shilling (British coin), shilling. It was first minted in 1551, during the reign of Edward VI of England, Edward VI, and circulated until 1980. The coin was made from silver from its introduction in 1551 until 1947, and thereafter in cupronickel. Before Decimal Day in 1971, sterling used the Carolingian monetary system (£sd), under which the largest unit was a pound (£), divisible into 20 shillings (s), each worth 12 pence (d), the value of two pre-decimal sixpence coins. Following decimalisation, the old sixpence had a value of Penny (British decimal coin), new pence (£0.025). In 2016, new decimal sixpences (face value £0.06) began being minted by the Royal Mint as commemorative issues; these coins have been produced for each year since then, and are minted in s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nickel (United States Coin)
A nickel is a five-cent (currency), cent coin struck by the United States Mint. Composed of cupronickel (75% copper and 25% nickel), the piece has been issued since 1866. Its diameter is 0.835 inches (21.21 mm) and its thickness is 0.077 inches (1.95 mm). The silver half dime, equal to five cents, was issued from 1792 to 1873 before today's cupronickel version. The American Civil War caused economic hardship, driving gold and silver from circulation; in response, in place of low-value coins, the government at first issued paper currency. In 1865, Congress abolished the five-cent fractional currency note after Spencer M. Clark, head of the Currency Bureau (today the Bureau of Engraving and Printing), placed his own portrait on the denomination. After the successful introduction of two-cent piece (United States coin), two-cent and three-cent nickel, three-cent pieces without precious metal, Congress also authorized a five-cent piece consisting of base metal; ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiat Money
Fiat money is a type of government-issued currency that is not backed by a precious metal, such as gold or silver, nor by any other tangible asset or commodity. Fiat currency is typically designated by the issuing government to be legal tender, and is authorized by government regulation. Since the end of the Bretton Woods system in 1976 by the Jamaica Accords, the major currencies in the world are fiat money. Fiat money generally does not have intrinsic value and does not have use value. It has value only because the individuals who use it as a unit of account or, in the case of currency, a medium of exchange agree on its value. They trust that it will be accepted by merchants and other people as a means of payment for liabilities. Fiat money is an alternative to commodity money, which is a currency that has intrinsic value because it contains, for example, a precious metal such as gold or silver which is embedded in the coin. Fiat also differs from representative mone ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Counterfeit
A counterfeit is a fake or unauthorized replica of a genuine product, such as money, documents, designer items, or other valuable goods. Counterfeiting generally involves creating an imitation of a genuine item that closely resembles the original to deceive others into believing it is authentic. Counterfeit products are often made to take advantage of the higher value of the original product, typically using lower-quality materials or production methods. Counterfeit food, drinks, medicines, and personal care products can contain harmful or inactive ingredients, causing anything from mild issues to serious, life-threatening ones. Counterfeit footwear, clothing, and accessories have been found to contain high levels of lead, arsenic, and phthalates. Forgery of money or government bonds Counterfeit money is currency that is produced without the legal sanction of the state or government; this is a crime in all jurisdictions of the world. The United States Secret Service, mostly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reeding
Reeding or milling is a technique wherein a number of narrow ridges called "reeds" are carved or milled into a surface with a Castaing machine. Numismatics In numismatics, reeded edges are often referred to as "ridged" or "grooved" (American usage), or "milled" (British usage). Some coins, such as United States quarters and dimes, 1 euro, Australian 5, 10, 20 cents, 1 and 2 dollars, as well many other current coins, have reeded edges. One reason for having reeded edges was to prevent counterfeiting. Some gold and silver coins were reeded to discourage clipping, i.e. scraping off the precious metals from the edge of the coin, to maintain its stated value in precious metal. This practice was made more difficult through the implementation of reeding by Isaac Newton in 1698, during his time as warden of the Royal Mint. Another benefit of certain coins having reeded edges is that it helps the visually impaired identify different coin denominations by sense of touch alone. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coin Clipping
A coin is a small object, usually round and flat, used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Coins often have images, numerals, or text on them. The faces of coins or medals are sometimes called the ''obverse'' and the ''reverse'', referring to the front and back sides, respectively. The obverse of a coin is commonly called ''heads'', because it often depicts the head of a prominent person, and the reverse is known as ''tails''. The first metal coins – invented in the ancient Greek world and disseminated during the Hellenistic period – were precious metal–based, and were invented in order to simplify and regularize the task of measuring and weighing bullion (bulk metal) carried around for the purpose of transactions. They carried their value within the coins themselves, but the stampings also induced manipulat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
