Tamil Nadu Board of Secondary EducationSSLC (English Medium) Class 9th
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Why were coins of low value printed in large quantities? - Social Science

Short Note

Why were coins of low value printed in large quantities?

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Solution

  1. There were insufficient reserves of gold and silver.
  2. Mines also had a limited reserve of these metals.
  3. An alternative was found and coins were made using metals with lesser value.
  4. These were used to buy and sell goods of lesser value.
  5. It was used as the money of the poor people.
Concept: Coins
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APPEARS IN

Samacheer Kalvi Social Science Class 9th Tamil Nadu State Board
Chapter 4.03 Money and Credit
Exercise | Q IV. 6 | Page 306
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