ABSTRACT
Coin struck from precious metals such as gold or silver was the earliest form of organised money. Only much later was this to be supplemented or replaced by bank notes, bank deposits and other means of payment or stores of value. Part I of this book discusses the history of coin, and shows how many apparently modern problems of monetary theory have their roots in a simple coinage system. This chapter discusses the specific analytical points, which are then illustrated in later chapters in Part I.
