what are coinage metals and what this term coinage means?
Share
what are coinage metals and what this term coinage means?
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Answer:
The coinage metals comprise, at a minimum, those metallic chemical elements which have historically been used as components in alloys used to mint coins.
Explanation:
Coinage refers to metal money, or coins. A numismatist — that's the technical term for a coin collector — is interested in coinage. Coinage is also the process of coming up with a new word
Verified answer
Coinage metals, also known as noble metals, refer to a group of metals that have been traditionally used to mint coins due to their desirable characteristics. The term "coinage" in this context relates to their historical and current use in the production of coins.The coinage metals typically include three metals: copper (Cu), silver (Ag), and gold (Au). These metals have been prized for coinage for several reasons:
1. Durability: Coinage metals are resistant to corrosion and tarnishing, which ensures that the coins made from these metals remain in good condition over time.
2. Malleability: They are highly malleable, which means they can be easily shaped into coins with intricate designs and details.
3. Conductivity: Copper, in particular, is known for its excellent electrical and thermal conductivity. It's not just used in coins but also in various electrical applications.
4. Intrinsic value: Silver and gold have intrinsic value beyond their use in coins. They have been historically valued as precious metals for their rarity and beauty, making them ideal for monetary systems.
The use of these coinage metals dates back to ancient times when they were chosen for their practicality and attractiveness. While modern currencies have shifted away from using precious metals in coins, these metals still hold significance in the world of finance, art, and jewelry due to their enduring value and unique properties.