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
Aksumite currency Aksumite currency Aksumite currency was coinage produced and used within the Kingdom of Aksum (or Axum) centered in present-day Eritrea and the Tigray Region of Ethiopia. Its mints were issued and circulated from the reign of King Endubis around AD 270 until it began its decline in the first half of the 7th century. During the succeeding medieval period, Mogadishu currency, minted by the Sultanate of Mogadishu, was the most widely circulated currency in the Horn of Africa. Aksum's currency served as a vessel of propaganda demonstrating the kingdom's wealth and promoting the national religion (first polytheistic and later Oriental