Investing · Western classics
Adam Smith:The Wealth of Nations, Book IV, Chapter III, Paragraph 1109
Adam Smith《The Wealth of Nations》· Book IV, Chapter III · Investing
Deposits of bullion are most commonly made when the price is somewhat lower than ordinary, and they are taken out again when it happens to rise. In Holland the market price of bullion is generally above the mint price, for the same reason that it was so in England before the late reformation of the gold coin. The difference is said to be commonly from about six to sixteen stivers upon the mark, or eight ounces of silver, of eleven parts of fine and one part alloy. The bank price, or the credit which the bank gives for the deposits of such silver (when made in foreign coin, of which the fineness is well known and ascertained, such as Mexico dollars), is twenty-two guilders the mark: the mint price is about twenty-three guilders, and the market price is from twenty-three guilders six, to twenty-three guilders sixteen stivers, or from two to three per cent. above the mint price.
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https://www.gutenberg.org/ebooks/3300
Locator:Book IV, Chapter III, paragraph 1109 · Verified:2026-10-19 · Verification:Exact match
This is a direct reading: the original and source are kept; commentary will be added later.
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