Metal As Money
Metallism is a centuries old school of thought which holds that money derives its value from precious metals. In some older monetary system based on metallism, silver, gold or other metals are used as the primary forms of money. Coins made of officially recognised valuable metal will often be the legal tender.
Especially since the 19th century, adherents of metallism tend to accept that the relationship between money and precious metal can be indirect. In the gold standard adopted by much of the world in the late 19th and early 20th century, various paper bank notes could be exchanged for gold at banks.
Read more about Metal As Money: History of Metallic Monetary Systems, Broad Sense of The Term
Famous quotes containing the words metal and/or money:
“And, indeed, is there not something holy about a great kitchen?... The scoured gleam of row upon row of metal vessels dangling from hooks or reposing on their shelves till needed with the air of so many chalices waiting for the celebration of the sacrament of food. And the range like an altar, yes, before which my mother bowed in perpetual homage, a fringe of sweat upon her upper lip and the fire glowing in her cheeks.”
—Angela Carter (1940–1992)
“Having money is just the best thing in the world.”
—Madonna [Madonna Louise Ciccione] (b. 1958)