Definition, Meaning & Synonyms

free-coinage

noun

/ˈfriː ˈkɔɪnɪdʒ/

Definition

The unrestricted production of coins in a certain metal, allowing anyone to bring bullion to the mint and have it turned into coins without any limit or charge.

Examples

Under the free-coinage system, anyone could take their silver to the mint and receive coins in exchange.
The policy of free-coinage was a significant part of the debate about monetary policy in the late 19th century.
Countries that adopted free-coinage aimed to stabilize their economies by controlling the supply of coins.

Meaning

Free-coinage refers to a monetary system in which coins can be minted freely by anyone who owns the metal, at no cost. This means that there are no fees to convert metal into currency, promoting the idea of a monetary standard based on specific metals like gold or silver.