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Free coinage

自由鋳造 ／ free coinage　—　Institutions

A system where the mint strikes brought-in bullion into coin.

Morgan dollar Morgan dollar1879
A photograph of what this word names.

A system of striking any brought-in bullion into coin for anyone, according to a set standard. It was the backbone of the silver standard, but was ended in various countries as the price of silver fell (India in 1893).

⚠ The sound of the door to free coinage closing is the sound of a country leaving the age of silver.