TIL about “coin clipping”, a process that was used to shave precious metal from the edge of silver and gold coins. It was used to extract value from a

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Coin debasement is the act of decreasing the amount of precious metal in a coin, while continuing to circulate it at face value. This was frequently done by governments in order to inflate the amount of currency in circulation; typically, some of the precious metal was replaced by a cheaper metal…

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