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<p>[QUOTE="Conder101, post: 1913772, member: 66"]And the simple was to do that is the NEW cent, nickel, dime etc have the purchasing power of 10 times the old coins (same for paper money). The old coins still have their same purchasing power. Of course this would mean the new coins would also have to be a different size so no one could pass off old coins as new ones.</p><p><br /></p><p>In effect what this would be would be a revaluing of the dollar, something that has been done in MANY countries around the world. It doesn't really accomplish anything economically, but it does allow for smaller denomination coins to remain in circulation, reduced production requirements for the coins, and everyone gets to deal with smaller numbers. I've recommended a 100 to 1 exchange though instead of 10 to one. Silver would be around 20 cents and oz and gold around $13 an oz. it would actually be possible to have silver and gold circulating coins again. (Maybe not practical, but possible.) A silver dime has $1.41 in Old Dollars bullion value. In New Dollar that would be 1.4 New Cents in a coin with a face value of ten New Cents. and it would have the purchasing power of a current ten dollar bill. Would it circulate? Why not? It has a face value six times higher than its intrinsic value. Some people might say they would hoard it anyway because it's silver! Sure but in effect you would be paying $10 for $1.41 worth of silver.</p><p><br /></p><p>How about a new double eagle with half an oz of gold in it? gold would have to reach the equivalent of $4,000 an oz in current dollars before the coin would contain its face value in gold. In other words gold would have to more than triple in value to break even hoarding the new gold coins.[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 1913772, member: 66"]And the simple was to do that is the NEW cent, nickel, dime etc have the purchasing power of 10 times the old coins (same for paper money). The old coins still have their same purchasing power. Of course this would mean the new coins would also have to be a different size so no one could pass off old coins as new ones. In effect what this would be would be a revaluing of the dollar, something that has been done in MANY countries around the world. It doesn't really accomplish anything economically, but it does allow for smaller denomination coins to remain in circulation, reduced production requirements for the coins, and everyone gets to deal with smaller numbers. I've recommended a 100 to 1 exchange though instead of 10 to one. Silver would be around 20 cents and oz and gold around $13 an oz. it would actually be possible to have silver and gold circulating coins again. (Maybe not practical, but possible.) A silver dime has $1.41 in Old Dollars bullion value. In New Dollar that would be 1.4 New Cents in a coin with a face value of ten New Cents. and it would have the purchasing power of a current ten dollar bill. Would it circulate? Why not? It has a face value six times higher than its intrinsic value. Some people might say they would hoard it anyway because it's silver! Sure but in effect you would be paying $10 for $1.41 worth of silver. How about a new double eagle with half an oz of gold in it? gold would have to reach the equivalent of $4,000 an oz in current dollars before the coin would contain its face value in gold. In other words gold would have to more than triple in value to break even hoarding the new gold coins.[/QUOTE]
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