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
Siege money (Newark) to introduce a "Newark Siege Pound" as a form of local currency they believe would benefit the local economy. Attribution: Siege money (Newark) Siege money or money of necessity was minted in Newark-on-Trent in 1646 during the third and final siege (1645–1646) — the last year of the First English Civil War. To meet need for money, the besieged Royalists set up a mint that manufactured lozenge-shaped coins — half-crowns, shillings, ninepences, and sixpences. Royalist noblemen and gentlemen freely gave their flagons and drinking cups, and these were fashioned into the lozenge-shaped coins. On some of them it is possible