bimetallism
noun[U]
finance & economicsspecializeduk/ˌbaɪˈmet.əl.ɪ.zəm/us/ˌbaɪˈmet̬.əl.ɪ.zəm/the use of twometals, forexamplegoldandsilver, as thestandardagainst which thevalueof acurrency(= themoneyused in aparticularcountry)iscalculated:
Themonetarysystemof theUnitedStateswasbasedon bimetallism for most of the 19thcentury.
Compare
monometallism
- Whengovernmentsused bothgoldandsilverstandardsthis wasknownas bimetallism.
- The Gold StandardActof theUnitedStatesestablishedgoldas the onlystandardforredeemingpapermoney,endingbimetallism.
Currencies
- Altcoin
- ariary
- bitcoin
- CDN
- colon
- crypto
- denomination
- escudo
- franc
- krone
- lira
- pieces of eight
- quetzal
- renminbi
- repeg
- ringgit
- rouble
- Schilling
- shekel
- shilling