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The way it's supposed to work is you then fall back on the intrinsic value of the copper. That's the 'coin' part of what the 'Mint' does.
by unyttigfjelltol 5y ago
The way it's supposed to work is you then fall back on the intrinsic value of the copper. That's the 'coin' part of what the 'Mint' does.
- csense 5y agoNah, as soon as inflation makes it profitable to melt coins, they make melting coins illegal. https://en.wikipedia.org/wiki/Penny_(United_States_coin)#Numismatics_and_regulations https://en.wikipedia.org/wiki/Penny_(United_States_coin)#Num...
- recursive 5y agoAnd where do I get a coin made of copper?
- quantified 5y agoOlder US pennies (pre-1982) have copper worth much more than 1 cent now, newer ones are basically zinc. On the flip side, a US mint $50 piece is actually well over $2000 of gold [https://catalog.usmint.gov/american-eagle-2021-one-ounce-gold-uncirculated-coin-21EHN.html https://catalog.usmint.gov/american-eagle-2021-one-ounce-gol...] The imprimature of the US mint is what makes these coins now.