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Debasement |
Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia, Hutchinson | 0.03 sec. |
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Debasement The act of lowering the value of something, especially a coin. In the past, a government would melt coins down and mix them with a metal of lower value in order to create more coins of the same denomination. This inevitably caused inflation, though it is unclear how well these governments understood that. Because few currencies are now based on a precious metal, debasement it rare. 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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