What is a Coin?
Piece of metal that are minted by an authority and are intended for use as legal tender. Coins made of precious metal can also be traded as bullion. The authority, a government or a bank, guarantees the coin’s weight as well as purity. When minted the coin is stamped with inscriptions indicating the authority who issued it and, frequently, the exact monetary value assigned to the coin. The value of the coin rarely reflects the value of the metals that compose it. The authority who mints the coin is the legal owner of the metals that compose it.
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