Debasement the intrinsic value of the coinage and so more coins can be made with the same quantity of precious metal. If done too frequently, debasement may lead to a new coin being adopted as a standard currency, as when the Ottoman Akçe was replaced by the kuruş (1 kuru = 120 akçe), with the para (1/40 kuruş) as a subunit. The kuruş in turn later became a subdivision of the lira. Debasement Debasement is the practice of lowering the value of currency. It is particularly used in connection with commodity money such as gold or silver coins. A coin is
Lithuanian long currency the subject. The currency is known by a great variety of terms and there is no clear consensus among researchers which of them is most appropriate: A silver-based economy developed in the 9th century. Lacking minted coins, Vikings developed bullion-based trading, using hacksilver and ingots. The earliest silver ingots that were used as currency were forged ("kaltiniai lydiniai"). They circulated from the 10th to the early 12th centuries and are very rare in Lithuania. As of 1981, forged ingots were found only seven times within the territory of Lithuania. Archaeologist Duksa identified three sub-types: spiral bracelet, ribbon ingot, and band