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What is hacksilver?

What is hacksilver? Here are some definitions.

Noun
  1. (usually historical) Silver objects that have been cup up or otherwise defaced, circulated as currency, and especially in archaeological contexts.
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Examples
A unique concentration in Phoenicia of silver hoards dated between 1200 and 800 BC, however, contains hacksilver with lead isotope ratios matching ores in Sardinia and Spain.
The very large hoard of late Roman hacksilver found at Traprain Law may have originated in either way.

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