Definition, Meaning & Synonyms

bimetallism

noun

/ˌbaɪˈmɛtəlˌɪzəm/

Definition

A monetary system in which the value of currency is linked to both gold and silver, allowing them to be used interchangeably as legal tender.

Examples

The United States experimented with bimetallism in the 19th century.
Proponents of bimetallism argued that it would stabilize the economy and prevent inflation.

Meaning

Bimetallism refers to a system where two metals, typically gold and silver, are used to back a country’s currency, contributing to its value and circulation.