NO LONGER DIFFERS ISSUING A. GOOD MONEY （62)______FROM BAD MONEY B. MAKE A PROFIT IN COI

NO LONGER DIFFERS ISSUING A. GOOD MONEY (62)______FROM BAD MONEY

B. MAKE A PROFIT IN COINAGE BY (63)______COINS

C. SILVER COINS ARE (64)______IN CIRCULATION LESS THAN 40 YEARS AGO IN THE UNITED STATES, IT WAS COMMON TO CHANGE A ONE-DOLLAR BILL FOR A DOLLAR"S WORTH OF SILVER. THAT IS BECAUSE THE COINS WERE ACTUALLY MADE OF SILVER. BUT THOSE DAYS ARE GON

E. THERE IS NO SILVER IN TODAY" S COINS. WHEN THE PRICE OF THE PRECIOUS METAL RISES ABOVE ITS FACE VALUE AS MONEY, THE METAL WILL BECOME MORE VALUABLE IN OTHER USES. (65)______BECAUSE THE SILVER IN COINS IS WORTH MUCH MORE THAN THEIR FACE VALU

E. A SILVER FIRM COULD FIND THAT IT IS CHEAPER TO OBTAIN SILVER BY MELTING DOWN COINS THAN BY BUYING IT ON THE COMMODITY MARKETS. COINS TODAY ARE MADE OF AN ALLOY OF CHEAPER METALS. GRESHAM" S LAW, NAMED AFTER SIR THOMAS GRESHAM, ARGUES THAT "GOOD MONEY" IS DRIVEN OUT OF CIRCULATION BY "BAD MONEY" . (66)______BECAUSE IT HAS HIGHER COMMODITY VALU

E. GRESHAM LIVED IN THE 16TH CENTURY IN ENGLAND WHERE IT WAS COMMON FOR GOLD AND SILVER COINS TO BE DEBASE

D. GOVERNMENTS DID THIS BY MIXING CHEAPER METALS WITH GOLD AND SILVER. THE GOVERNMENTS COULD THUS (67)______THAT HAD LESS PRECIOUS METAL THAN THE FACE VALUE INDICATE

D. BECAUSE DIFFERENT MIXINGS OF COINS HAD DIFFERENT AMOUNTS OF GOLD AND SILVER, EVEN THOUGH THEY BORE THE SAME FACE VALUE, SOME COINS WERE WORTH MORE THAN OTHERS AS COMMODITIES. PEOPLE WHO DEALT WITH GOLD AND SILVER COULD EASILY SEE THE DIFFERENCE BETWEEN THE " GOOD" AND THE " BAD MONEY. GRESHAM OBSERVED THAT COINS WITH A HIGHER CONTENT OF GOLD AND SILVER WERE KEPT RATHER THAN BEING USED IN EXCHANGE, OR WERE MELTED DOWN FOR THEIR PRECIOUS METAL. IN THE MID-1960S WHEN THE U.S. ISSUED NEW COINS TO REPLACE SILVER COINS, GRESHAM" S LAW WENT RIGHT IN ACTIO

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