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<p>[QUOTE="dougsmit, post: 3016045, member: 19463"]I think we modern types miss out on how important people of the past considered the value of their money. Late Romans expected there to be the advertised trace of silver in their coins. Earlier Romans saw SC noted on their minor coinage assuring that the Senate had decreed this to be a worthy coin. Note (not always positive) was taken when standards changed and coinage reforms made new norms replace the good old accepted ones. This lasted a long time. On 19th century US silver coins we see arrows and rays recording changes in the intrinsic value of fractional coinage. When I was a boy, we knew that those blue seal silver certificates could be exchanged for a real silver bearing silver dollar. After that went away all we had left was trust. Today we hear radio ads assuring us that gold will always be worth having but we also hear people fearful that drinkable water might be more important in the future. What will be the currency of the future? Trust is difficult to mint.[/QUOTE]</p><p><br /></p>
[QUOTE="dougsmit, post: 3016045, member: 19463"]I think we modern types miss out on how important people of the past considered the value of their money. Late Romans expected there to be the advertised trace of silver in their coins. Earlier Romans saw SC noted on their minor coinage assuring that the Senate had decreed this to be a worthy coin. Note (not always positive) was taken when standards changed and coinage reforms made new norms replace the good old accepted ones. This lasted a long time. On 19th century US silver coins we see arrows and rays recording changes in the intrinsic value of fractional coinage. When I was a boy, we knew that those blue seal silver certificates could be exchanged for a real silver bearing silver dollar. After that went away all we had left was trust. Today we hear radio ads assuring us that gold will always be worth having but we also hear people fearful that drinkable water might be more important in the future. What will be the currency of the future? Trust is difficult to mint.[/QUOTE]
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