"Debasement" Is Sometimes Used to Refer to the Tendency of Silver

Essay

"Debasement" is sometimes used to refer to the tendency of silver or gold coins to be "shaved", that is, to have small amounts shaved off the edges of the coins by government, thereby reducing the actual silver content of the coin. Compare and contrast this practice with the definition provided by the textbook authors of the word debasement which is "the decrease in the value of money that occurs when its supply is increased rapidly."