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# Silver Price Variation

## Definition

The changes over time in the value of silver relative to other commodities, particularly corn. These variations reflect changes in the supply of silver from mines and changes in the demand for silver as commerce and wealth increase.

## Source Chapter

Book I, Chapter 11

## Context

Smith provides a detailed analysis of how the value of silver has changed relative to corn over the past four centuries, using this as evidence for his theories about the relationship between wealth, commerce, and the value of precious metals.

## Economic Domain

Exchange

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