“It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments.”
Gold stater ca. 560–546 B.C.
Foto by Met Museum
Foreparts of lion and bull confronted
Foto by Met Museum
Sound money is defined as money not liable to sudden appreciation or depreciation in value. In other words: sound money is stable money. The term “sound money” describes the characteristic metallic ring of a gold or silver coin dropped on any hard surface. Sound money first occurred around 550 BC when the first gold coins were struck on the order of king Croesus of Lydia which today is part of Turkey.
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