Gresham's law

noun
Gresh·​am's law | \ ˈgre-shəmz- How to pronounce Gresham's law (audio) \

Definition of Gresham's law

: an observation in economics: when two coins are equal in debt-paying value but unequal in intrinsic value, the one having the lesser intrinsic value tends to remain in circulation and the other to be hoarded or exported as bullion broadly : any process by which inferior products or practices drive out superior ones

First Known Use of Gresham's law

1858, in the meaning defined above

History and Etymology for Gresham's law

Sir Thomas Gresham

Keep scrolling for more

Learn More about Gresham's law

Time Traveler for Gresham's law

Time Traveler

The first known use of Gresham's law was in 1858

See more words from the same year

Statistics for Gresham's law

Cite this Entry

“Gresham's law.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/Gresham%27s%20law. Accessed 30 Sep. 2020.

Comments on Gresham's law

What made you want to look up Gresham's law? Please tell us where you read or heard it (including the quote, if possible).

WORD OF THE DAY

Test Your Vocabulary

Challenging Vocabulary Quiz Returns!

  • stylized drawing of woman pole vaulting across gap to get trophy
  • Which is a synonym of fuliginous?
Spell It

Can you spell these 10 commonly misspelled words?

TAKE THE QUIZ
Syn City

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!