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Gresham's Law

Gresham's Law, economic principle (attributed to Sir Thomas Gresham) that “bad money drives out good.” This means that when coins of the same face value but of different market value circulate together, the coins of higher market value will disappear from circulation to be hoarded or used as an open-market commodity.

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21st Century Webster's Family Encyclopedia21st Century Webster's Family Encyclopedia - Grand Rapids to Hadron