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1792 Coppersa for recod sums
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<p>[QUOTE="Conder101, post: 1424337, member: 66"]The silver was not added to raise the weight, and it was not added to raise the intrinsic value, it was added to KEEP the intrinsic value at one cent while LOWERING the weight. The cent as originally authorized already had a full cent intrinsic value, but it was going to weigh 264 grains (17.6 grams or about twice as much as the post 1795 large cents or 50% more than the current half dollar.) By adding the silver center they keep the intrinsic value at one cent but were able to lower the weight to 69 grains (4.5 grams or a little less than the current nickel) They decided it was too much trouble though and they just decided to lower the weight and produce the coin with an intrinsic value less than face and use the resulting seneiorage profits from the copper coinage to pay for the expenses of the mint and allow for free coinage of gold and silver.[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 1424337, member: 66"]The silver was not added to raise the weight, and it was not added to raise the intrinsic value, it was added to KEEP the intrinsic value at one cent while LOWERING the weight. The cent as originally authorized already had a full cent intrinsic value, but it was going to weigh 264 grains (17.6 grams or about twice as much as the post 1795 large cents or 50% more than the current half dollar.) By adding the silver center they keep the intrinsic value at one cent but were able to lower the weight to 69 grains (4.5 grams or a little less than the current nickel) They decided it was too much trouble though and they just decided to lower the weight and produce the coin with an intrinsic value less than face and use the resulting seneiorage profits from the copper coinage to pay for the expenses of the mint and allow for free coinage of gold and silver.[/QUOTE]
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1792 Coppersa for recod sums
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