6 ms·

I wouldn't say it's an edge case; it eventually will happen to any perpetuity.

• ghshephard 11y ago
  Well, if the payment is specified in gold, it will be a very long time before that medium is not available.
  • exelius 11y ago
    Then it's just a futures contract; and nobody in their right mind would sell a futures contract on a perpetuity. Currency is a useful abstraction for a lot of reasons.
    • murbard2 11y ago
      No, it's absolutely not a futures contract: you collect coupons over time.
• tome 11y ago
  Yes, but also the issuer of any perpetuity will go out of existence.
  • exelius 11y ago
    Not if they're the Dutch government, apparently.