The expression metalism designates the opinion that the value of the money (usually with coins) corresponds to the value of its material and not its nominal value. This plays to today with precious metals a role. The opposite of the metalism is the nominalism.

In the Middle Ages coins were weighed, in order to determine their value. Medieval authorities often increased the money supply, which led to an inflation with shortness of funds. In order to believe in nominal values independently from a concrete medium to, it needs confidence into the publisher of the money and to its falsification safeness. This were the conditions for the acceptance vpn notes since that 19. Century as historical overcoming of the metalism.

See also

Monetary value, right of coining money

Articles in category "Metalism"

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