Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Coinless society
>
Reply to Thread
Message:
<p>[QUOTE="physics-fan3.14, post: 3146102, member: 19165"]That is highly unlikely. If we went to a cashless economy, the coins wouldn't have any value anymore. The coins worth 25 cents would now be worth maybe a nickel. It's very similar to what happens in countries that phase out their coinage and replace it with something new - for example, the countries of the European union. The former coins of France are not now worth anything in trade, and you can find many of those in junk bins for extremely cheap. </p><p><br /></p><p>The value of a coin is based on what someone is willing to trade you for it. I can currently trade a dollar coin for a can of Coke. If that is not possible anymore, the only way to trade that dollar coin is to a collector. There are billions of modern coins - only the highest quality examples will have any collector value. </p><p><br /></p><p>As for the value of pre-1964 coins, I don't see those being affected greatly. The value of those coins is purely collector value, and people won't just stop collecting coins. Collecting modern coins is a small segment of the current hobby, and I would argue that a large percentage of serious collectors were not drawn to the hobby by modern coinage. They were drawn by the history, artistry, scarcity, beauty, and value of old coinage - things which cannot be said about the vast majority of modern coinage.[/QUOTE]</p><p><br /></p>
[QUOTE="physics-fan3.14, post: 3146102, member: 19165"]That is highly unlikely. If we went to a cashless economy, the coins wouldn't have any value anymore. The coins worth 25 cents would now be worth maybe a nickel. It's very similar to what happens in countries that phase out their coinage and replace it with something new - for example, the countries of the European union. The former coins of France are not now worth anything in trade, and you can find many of those in junk bins for extremely cheap. The value of a coin is based on what someone is willing to trade you for it. I can currently trade a dollar coin for a can of Coke. If that is not possible anymore, the only way to trade that dollar coin is to a collector. There are billions of modern coins - only the highest quality examples will have any collector value. As for the value of pre-1964 coins, I don't see those being affected greatly. The value of those coins is purely collector value, and people won't just stop collecting coins. Collecting modern coins is a small segment of the current hobby, and I would argue that a large percentage of serious collectors were not drawn to the hobby by modern coinage. They were drawn by the history, artistry, scarcity, beauty, and value of old coinage - things which cannot be said about the vast majority of modern coinage.[/QUOTE]
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
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Coinless society
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...