mint par

• mint par of exchange

A clipped form of mint par of exchange.

mint par (plural mint pars)

1. (historical finance) The monetary unit of a country stated in terms of the monetary unit of a second country which uses the same metallic standard.
   • 1885, Charles Francis Bastable, Encyclopaedia Britannica, 9th ed., Vol. XVI, "Money":

     The difficulties which arise when universal coinage schemes are brought forward ought not to conceal from us the solid advantages which such an institution would confer on the world... The question of mint pars would no longer arise, and the specie points would be stated more simply.

   • 1896, R.H.I. Palgrave, Dictionary of Political Economy, Vol. II, "Mint Par of Exchange":

     The equivalent, in terms of one coinage, of the quantity of pure metal contained in another standard coin, both being of the same metal, and taken at mintage weights... Mint pars are given above for Spain, Italy, Portugal, Brazil, Argentina, and Chili, although at present (1895) their actual exchanges are in terms of more or less inconvertible paper money.

   • 1925, Samuel Evelyn Thomas, chapter XXIX, in Elements of Economics, page 461:

     We find that the rates at which one currency will exchange for another fluctuate between two limits on each side of the Mint Par, marking the points at which it becomes more profitable to send or to receive gold rather than to send or receive a credit instrument. These theoretical limits are known as the gold points.

• mantrip, trampin', tripman