Message:

<p>[QUOTE=&quot;kaparthy, post: 672400, member: 57463&quot;]<b>Logic is non-contradictory thinking.</b></p><p><br /></p><p><br /></p><p><br /></p><p>The key concept there is <b>sell.</b>&nbsp; You said that it is the business of the bank to <b>sell</b> coinage. At what price?&nbsp; Do you mean sell for zero price?</p><p><br /></p><p>It is true that Francoise Velde, himself both a numismatist and an economist for the Federal Reserve wrote in <i>The Big Problem of Small Change</i> that our wonderful, modern system lets you exchange four quarters for one dollar at no cost to you.&nbsp; And back again at no cost, if you want, and again and again.&nbsp; In most of history, especially during the commercial revolution of the Middle Ages, four pennies were not equal to a groat.&nbsp; One had more utility than the other, and so carried a different market price.</p><p><br /></p><p>I am constantly disappointed in the lacunae within the knowledge bases of numismatists.&nbsp; In our hobby, we buy and sell money, yet anti-capitalist errors persist.[/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