Encyclopedia
Definitions written for a first-time reader and a trustee
Each entry answers at four depths: plain language first, then working knowledge, then advanced, then professional practice. Every definition carries its sources, and where economists disagree, the entry names both positions instead of picking one quietly.
Foundations
Money
Money is whatever a community reliably accepts in exchange for goods, uses to price things, and trusts to hold value between the day you earn it and the day you spend it.
Fiat currency
Fiat currency is money that is money because the law says so. It is not redeemable for gold, silver or anything else — its value rests on confidence and on the fact that taxes and debts are settled in it.
Purchasing power
Purchasing power is what your money actually buys. It is the only measure of savings that matters, and it can fall while your account balance stays exactly the same.
Metals markets
Spot price
The spot price is the market price for a standard, immediately deliverable quantity of metal. It is a reference for a specific wholesale contract, not the price you will pay for a coin.
Troy ounce
A troy ounce is the weight unit used for precious metals. It is heavier than the ordinary kitchen ounce — about 31.10 grams against 28.35 — so the two are not interchangeable.
Law and policy
This is the cornerstone set. Entries are added as the Academy curriculum needs them, and each one is reviewed on a fixed cadence rather than left to age quietly. The shorter industry vocabulary lives in the metals glossary.
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