SEIGNIORAGE

seigniorage

(noun) charged by a government for coining bullion

Source: WordNet® 3.1

Etymology

Noun

seigniorage (plural seigniorages)

(historical) All the revenue obtained by a feudal lord from his vassals.

The revenue obtained directly by minting coin (difference between face value and cost of metal).

(finance) The revenue obtained by the difference between interest earned on securities acquired in exchange for bank notes and the costs of producing and distributing those notes.

Source: Wiktionary

Seign"ior*age, n. Etym: [F. seigneuriage, OF. seignorage.]

1. Something claimed or taken by virtue of sovereign prerogative; specifically, a charge or toll deducted from bullion brought to a mint to be coined; the difference between the cost of a mass of bullion and the value as money of the pieces coined from it. If government, however, throws the expense of coinage, as is reasonable, upon the holders, by making a charge to cover the expense (which is done by giving back rather less in coin than has been received in bullion, and is called "levying a seigniorage"), the coin will rise to the extent of the seigniorage above the value of the bullion. J. S. Mill.

2. A share of the receipts of a business taken in payment for the use of a right, as a copyright or a patent.

Source: Webster’s Unabridged Dictionary 1913 Edition

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