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# Market Price of Bullion

## Definition

The price at which gold and silver bullion actually trades in the market, which Smith shows fluctuates around the mint price based on supply, demand, and the quality of the coinage.

## Source Chapter

Book I, Chapter 5

## Context

Smith uses the relationship between market price and mint price of bullion to demonstrate how the quality of coinage affects the overall value of money in an economy.

## Economic Domain

Exchange

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