I will pay for the following essay Discussing the benefits and costs of such a metallic monetary system for an aspiring new country. The essay is to be 2 pages with three to five sources, with in-text citations and a reference page.
In as much as metallic money has its advantages, it also has its dark sides. For metallic money to be effective in any country, it requires a large amount of gold and silver (Poor, 121). Since gold and silver are highly valued metals, there are used in place of monetary value. This can, however, be an expensive the metallic monetary system, for a young nation. The initial cost of producing metallic money is also expensive because of the machinery and equipment used, and the high labor cost required. This can be a burden to the country’s resources. Due to the expensive nature of gold and silver used in production of metallic money, their circulation in the economy can be limited. A new nation cannot afford to purchase a large number of these metals. It is hard to make metallic money distinctive enough so that large denomination of money can be produced (Poor, 127). There are few metals used to make money and so a limited color choice. Metallic money is, therefore, not desirable to make large denomination of money. .