One reason a government will debase its currency is financial gain for the sovereign at the expense of citizens.By reducing the silver or gold content of a coin, a government can make more coins out of a given amount of specie.It is particularly used in connection with commodity money such as gold or silver coins.

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Debasement is the practice of lowering the value of currency.

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  2. The region is as wreathed in legend as it is in clouds: into nearby Glaslyn Lake, the Welsh believe, a wounded King Arthur had Sir Bedivere throw Excalibur; and beneath the summit of Y Lliwedd, Arthur's knights still sleep in a cave, awaiting their leader's return from the Isle of Avalon.