Shinplaster: Difference between revisions

'''Shinplaster''' was [[paper money]] of low denomination, typically less than one dollar, [[List of circulating currencies|circulating]] widely in the economies of the 19th century where there was a shortage of circulating coinage.{{clarify|date=March 2015}} The shortage of circulating coins was primarily due to the [[Intrinsic value (numismatics)|intrinsic value]] of metal rising above the value of the coin itself. People became incentivized to take coins out of circulation and melt them for the true intrinsic value. This left no [[medium of exchange]] for the purchase of [[Fast-moving consumer goods|basic consumer goods]] such as milk and newspapers. To fill this gap, banks issued low-denomination paper currency.