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Gresham's law - Wikipedia

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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.[1][2] The law was named in 1857 by economist Henry Dunning Macleod after Sir Thomas Gresham (1519–1579), an English financier during the Tudor dynasty.[3] 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. 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).[4] The price spread between face value and commodity value wh

Gresham's law - Wikipedia Jump to content From Wikipedia, the free encyclopedia Monetary principle "Good money" redirects here. For the banking platform, see Good Money . Sir Thomas Gresham In economics , Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two coins in circulation containing metal of different value, which are accepted by law as having similar face value , the more valuable coin based on the inherent value of its component metals will gradually disappear from circulation. [ 1 ] [ 2 ] The law was named in 1857 by economist H

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