Noun
bad money (countable and uncountable, plural bad moneys)
(banking, finance) Any money of coinage or currency that is depreciated, mutilated, or debased.
Astute English merchants and even ordinary subjects would save the good shillings from pure silver and circulate the bad ones; hence, the bad money would be used whenever possible, and the good coinage would be saved and disappear from circulation. Source: Internet
In Gresham's day, bad money included any coin that had been debased. Source: Internet
Gresham also made his comparison of good and bad money where the precious metal in the money was the same metal, but of different weight. Source: Internet
Other examples of bad money include counterfeit coins made from base metal. Source: Internet
However, if not given the choice, and required to accept all money, good and bad, they will tend to keep the money of greater perceived value in their possession, and pass on the bad money to someone else. Source: Internet
On the other hand, bad money is money that has a commodity value considerably lower than its face value and is in circulation along with good money, where both forms are required to be accepted at equal value as legal tender. Source: Internet