Message:

<p>[QUOTE=&quot;cladking, post: 126714, member: 68&quot;]I suppose this thread will be locked now, too.&nbsp; </p><p><br /></p><p>During much of the time silver was circulating, coins were worth much less than their face value.&nbsp; During the depression coins were worth only one quarter of face yet people still tried to acquire them.&nbsp; Gold was sometimes worth less than face and would have been more often but the government manipulated the gold price.&nbsp; </p><p><br /></p><p>Even the zinc cents now contain more than 3/4c worth of metal.&nbsp; The clad quarters are worth nearly as much of face as silver quarters were in the depression. The costs of mint employee health benefits and wages and the rapid deterioration of dies used to make steel coins make this an unacceptable replacement.&nbsp; Probably NO material can be coined for less than one cent unless its size is dramatically reduced.&nbsp; Steel itself is no longer the cheap metal it once was and many specialty steels would cost well in excess of 1/2 cent in metal for a one cent sized disc.&nbsp; Indeed, even scrap steel can cost more than zinc did when the mint claimed it was making a tiny profit on pennies.&nbsp; And a pound of steel doesn&#039;t go as far and wears the dies quickly.&nbsp; </p><p><br /></p><p>The simple fact is that the problem remains inflation caused by government spending not an intrinsic problem with our currency.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in