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# Penelope's Web Metaphor

## Definition

Smith's metaphor comparing the mint's coinage operations to Penelope's weaving in the Odyssey, where work done during the day is undone at night. This illustrates how the mint's efforts to add new coins are constantly undermined by their removal through melting and exportation.

## Source Chapter

Book IV, Chapter 6

## Context

Smith uses this metaphor to vividly illustrate the futility of coinage operations when there is no seignorage and currency is degraded. The constant cycle of adding and removing coins demonstrates the need for monetary policy reforms to break this inefficient pattern.

## Economic Domain

Regulation

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