"Nominal value" Quotes from Famous Books
 ... country is reduced below the bullion which it professes to represent, an agio is payable on the appreciated currency. (c) Lastly, in some states the coinage is so debased, owing to the wear of circulation, that the real is greatly reduced below the nominal value. Supposing that this reduction amounts to 5%, then if 100 sovereigns were offered as payment of a debt in England while such sovereigns were current there at their nominal value, they would be received as just payment; but if they ...
— Project Gutenberg Encyclopedia |
