bad money

悪貨／ bad-money　—　Phenomena

Money with less inside it, and so of poorer worth.

Sixpence of Elizabeth I — A photograph of the real thing this term names.

Leeuwendaalder (lion daalder) — A photograph of the real thing this term names.

When circulating at the same face value as good money, people will spend the bad money first. This is a matter of course, but when this behavior accumulates, good money disappears from the market.

Related terms

Gresham's law debasement good money

Terms explained using this word

private minting face value melting down bimetallism monetary union disorder frenzy Gresham border

Courses where this term appears

B03 Fineness and Debasement C07 The Rediscovery of the Same Law C13 The Queens E1 Source Criticism E4 Metrology E9 Research Practice

Where this word appears

Overview: 2,700 years of the world　Britain　Gresham's Law
Overview: 2,700 years of the world　Germany　Kipper und Wipper
Greece　Debased Coinage　Theatre at the Lenaia festival
Greece　A Name Revived　A Money Changer in Athens
Portugal　South, and to the sea (2)　A counting table at the market
France　Feudalism and the coin of the Vikings　A money-changer's table at the fair
France　The counterfeiter king and the Temple　Paris
Netherlands　The lion daalder goes out into the world　A harbour in the Low Countries

and 14 more chapters

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