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Topic: Half-cent coin (Read 171 times) previous topic - next topic
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Re: Half-cent coin

Reply #1
https://www.damninteresting.com/curio/half-a-thought/
The coin contained 5.44 grams of 100% copper, worth about 3 cents in today's copper prices. The article says it is worth 15 cents in today's dollars, but there is no date for the article that I saw. In round numbers, the dollar has lost 99% of its purchasing power since birth of the fed; therefore the coin would be worth about fifty cents today but the numismatic value is certainly much higher.

Today's penny is mostly zinc to cut cost of manufacture and still the country loses money minting them. The big question never publicly asked is what is the root cause for coins and currency becoming essentially worthless over time when a characteristic of money is store of value? Why are silver coins now only clad with silver and called political sandwiches? It is abject failure by our politicians, democratically elected stewards of our republic, to mange the country prudently. What they have done instead is buy votes and lined their pockets. There is a quote at the bottom of 321gold.com that sums it up; "This is the Golden Age of fraud, an era of general willingness to ignore and justify the wrongdoings of the rich and powerful, which makes every lie bigger and widens its destructive path."
Reed Albergotti

 

Re: Half-cent coin

Reply #2
https://www.damninteresting.com/curio/half-a-thought/
The coin contained 5.44 grams of 100% copper, worth about 3 cents in today's copper prices. The article says it is worth 15 cents in today's dollars, but there is no date for the article that I saw. In round numbers, the dollar has lost 99% of its purchasing power since birth of the fed; therefore the coin would be worth about fifty cents today but the numismatic value is certainly much higher.

Today's penny is mostly zinc to cut cost of manufacture and still the country loses money minting them. The big question never publicly asked is what is the root cause for coins and currency becoming essentially worthless over time when a characteristic of money is store of value? Why are silver coins now only clad with silver and called political sandwiches? It is abject failure by our politicians, democratically elected stewards of our republic, to mange the country prudently. What they have done instead is buy votes and lined their pockets. There is a quote at the bottom of 321gold.com that sums it up; "This is the Golden Age of fraud, an era of general willingness to ignore and justify the wrongdoings of the rich and powerful, which makes every lie bigger and widens its destructive path."
Reed Albergotti
I havbe a quote too. Learned it from my father.

It goes like this:

The Politicians Oath.
 I'm on my honor to do my best,
to help myself,
and cheat the rest.