Metallism

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Metallism is a type of monetary system in which silver, gold or other metals are used as money.

Usually, that word refers to a system where that kind of money is a legal tender.

Contradistinctions

Metallism versus fiat monetary systems

Metallism is opposed to the use of fiat money, i.e. governmentally-issued money with no intrinsic value.

Monometallism versus bimetallism

A smaller disagreement which takes place relating to metallism is whether one metal should be used as currency (as in monometallism), or should there be two or more metals for that purpose (as in bimetallism).

Historically, silver has been the main kind of money around the world, circulating bimetallically with gold. In many languages, the words for "money" and "silver" are identical. In the final era of global metal-based money, i.e. the first quarter of the 20th century, monometallic gold use has been the standard.

See also

• Metal as money
• Monetary policy
• Precious metals

References

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