1. What is a milled edge?

2. Why do coins have them?

3. What is a piece of eight?
4. What organization produces the money for the UK Economy
5. What does the term “debasing” mean?
6. Name some famous banks and bankers

1.) A milled-edge are coins which are produced by some form of machine, rather than by
manually hammering coin blanks between two dies or casting coins from dies.

2.) Before the 18th-century was out, the U.S. Mint began adding ridges to the coins’ edges, a
process called “reeding,” in order to make it impossible to shave them down without the
result being obvious. As a side benefit, the reeded edges also made coin design more
intricate and counterfeiting more difficult.

3.) The Real de a Ocho, also known as the Spanish dollar, the Eight Royals Coin, or the Piece
of Eight, is a silver coin, of approximately 38 mm diameter, worth eight Spanish reales,
that was minted in the Spanish Empire after 1598.

4.) The Bank of England. It is the central bank of the United Kingdom and the model on
which most modern central banks have been based.

5.) Debasement is the practice of lowering the value of currency. It is particularly used in
connection with commodity money such as gold or silver coins. A coin is said to
be debased if the quantity of gold, silver, copper or nickel is reduced.

6.) Famous Banks: JP Morgan Chase, Goldman Sachs, Citi Bank, HSBC, Bank of America

Famous Bankers: Nathan Mayer Rothschild, John Pierpont Morgan, Amadeo P.

Giannini, Charles Merrill,