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When was the last time we used coinage that was actually worth its face value? Seems meaningless to me
by thatguy0900 5y ago
When was the last time we used coinage that was actually worth its face value? Seems meaningless to me
- GDC7 5y agoAs I said there is a difference between 1$ and 1 trillion. People don't question the face value of 1$ given the fact that it's cheap change.
- Ancapistani 5y agoOur current coins in regular circulation are basically worthless in terms of metal content. On the other hand, US Mint-produced $50 gold eagles contain ~$1,800 of gold. Political opinions aside, it seems obvious to me that the value of the metal content of US coinage is unrelated to the face value.
- GDC7 5y agoNobody cares about 1$ coins, people would care about a 1T$ coin.
- JadeNB 5y ago> Our current coins in regular circulation are basically worthless in terms of metal content. On the other hand, US Mint-produced $50 gold eagles contain ~$1,800 of gold. That sounded so ludicrous that I thought you must be mistaken or exaggerating, but, as with all things currency-related, I think it's impossible to out-absurd the reality. https://en.wikipedia.org/wiki/American_Gold_Eagle#Value https://en.wikipedia.org/wiki/American_Gold_Eagle#Value