17 Dec
2003
17 Dec
'03
11:17 p.m.
Incidently.... James Gleick writes:
Seignorage is neither of these things. It is the difference between the cost of producing a currency token (like a quarter or a dollar bill) and the face value of the token. In essense, its the profit margin on printing or minting money.
You're giving a definition straight from a dictionary--an old one. Welcome to the modern world.
The definition I use is *still* totally current. One concern when doing things like switching from dollar bills to dollar coins or altering printing processes in paper money is a change in seignorage because of a change in production cost of the currency tokens. Perry