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bimetallism

複本位　—　Institutions

A system making both gold and silver the ground of value.

Croeseid Croeseidc. BC 550 Agnel d'or (the gold lamb) Agnel d'or (the gold lamb)1311 Draped Bust dollar Draped Bust dollarDated 1796
A photograph of the real thing this term names.

The exchange ratio between gold and silver coins is fixed by law. ⚠ However, the market ratio fluctuates. When the legal ratio and the market ratio diverge, the metal that is undervalued by law flows out of the country, leaving only the other. For this reason, bimetallism has collapsed almost without exception.