Noun
(economics) the principle that when two kinds of money having the same denominational value are in circulation the intrinsically more valuable money will be hoarded and the money of lower intrinsic value will circulate more freely until the intrinsically more valuable money is driven out of circulation; bad money drives out good; credited to Sir Thomas Gresham
Source: WordNetGresham's law may be generally applied to any circumstance in which the true value of something is markedly different from the value people are required to accept, due to factors such as lack of information or governmental decree. Source: Internet
Gresham's law -- Britannica Online Encyclopedia, observation in economics that “bad drives out good.” Source: Internet
Gresham's law has been cited as "Silver currency will inevitably force gold currency out of circulation" (L. Source: Internet