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6 7. During the 1800's, due to a shortage of coinage, the US economy used both US and Spanish minted coins. As it happens, Spanish

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7. During the 1800's, due to a shortage of coinage, the US economy used both US and Spanish minted coins. As it happens, Spanish silver dollars contained from 2% to 5% more silver than the US ones did. yet had the same accepted nominal value in trade - one dollar. Interestingly, fractional Spanish silver coins - things like half dollars, quarters, and dimes - contained less silver than their US counterparts. Using Gresham's law, what do you think happened to the types of coins that eventually circulated in the US

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