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# Precious Metals Consumption

## Definition

The use of gold and silver in various forms including coin, plate, jewelry, and industrial applications. This consumption creates ongoing demand for newly mined precious metals to replace losses from wear, damage, and industrial use.

## Source Chapter

Book I, Chapter 11

## Context

Smith discusses how the consumption of precious metals in various forms creates a continuous demand that must be met by new production, affecting their long-term value and availability.

## Economic Domain

Consumption

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