![]() ![]() In the absence of legal-tender laws, metal coin money will freely exchange at somewhat above bullion market value. Under Gresham's Law, "good money" is money that shows little difference between its nominal value (the face value of the coin) and its commodity value (the value of the metal of which it is made, often precious metals, nickel, or copper). 5 Reverse of Gresham's law (Thiers' law).
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