Gresham's law
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In economics, Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two coins in circulation containing metal of different value, which are accepted
Sir Thomas Gresham
A stack of twenty Walking Liberty half dollars (left), which contain 90% silver. In an example of Gresham's law, these coins were quickly hoarded by the public after the Coinage Act of 1965 debased half dollars to contain only 40% silver, and then were debased entirely in 1971 to base cupronickel (right).
Reeding
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Reeding or milling is a technique wherein a number of narrow ridges called "reeds" are carved or milled into a surface with a Castaing machine.
Gresham's law
…a base metal. The public could also debase coins, usually by clipping or scraping off small portions of the precious metal, also known as "stemming" (reeded edges on coins were intended to make clipping evident). Other examples of bad money include counterfeit coins made from base metal. Today, virtually all…
Milled edge of a 1951 Hong Kong 50¢ coin
A cabinet with reeded doors