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<p>[QUOTE=&quot;Blaubart, post: 1990895, member: 37498&quot;]The value is not &quot;in the object&quot;, but rather it is a valuation of the components of said object.&nbsp; There is nothing in the definition that says intrinsic value can&#039;t change.&nbsp; If the price of silver dropped to the same level as copper, silver coins would still have an intrinsic value.&nbsp; It would not be the same as it is today, but it would still be possible to assign a dollar value based on that future price of silver.</p><p><br /></p><p>I would even be willing to go so far as to say if the price of silver somehow dropped to zero, objects containing silver would still have an intrinsic value.&nbsp; That value would be zero, and of course objects with no value are pretty insignificant, but zero is still a value.&nbsp; You would say &quot;The intrinsic value of this coin is $0.&quot;&nbsp; In which case the face value or the numismatic value would be more relevant.</p><p><br /></p><p><br /></p><p>Zero is still a value, so the intrinsic value never actually &quot;disappears&quot;.&nbsp; This makes a lot more sense once you understand that the dollar value assigned as intrinsic value is nothing more than a snapshot based on current market conditions.</p><p><br /></p><p><br /></p><p>Of course the valuation of what is inside an object comes from humans outside the object, but that is not the point.&nbsp; What is important, is that intrinsic value, regardless of who determines that value and any permanence or lack thereof, is based upon the element(s) of an object, not the object itself.</p><p><br /></p><p>In the case of a coin, it&#039;s based on the value of the metal.&nbsp; In the case of a diamond ring, it&#039;s usually based on the value of the diamond and any precious metals in the ring.&nbsp; In the case of a corporation, it&#039;s based on the individual assets of the company.</p><p><br /></p><p>As we all know, a beat up silver coin that nobody wants to &quot;collect&quot;, is still worth a few bucks based on the silver.&nbsp; An unfashionably ugly diamond ring is probably worth a decent amount based on the value of the diamond and the precious metals.&nbsp; A company that has been ran into the ground likely still has assets that are worth something to someone.</p><p><br /></p><p>The values we place on those components can change over time.&nbsp; The intrinsic value determined today of the diamond ring might be $1000 for the diamond and $500 for the gold.&nbsp; Something could happen in the near future that makes diamonds completely unfashionable, so the dollar value assigned to the components in the future might be $20 for the diamond for industrial use, and $400 for the gold.&nbsp; That does not mean an intrinsic value doesn&#039;t exist today, or that it disappeared in such a future, only that said valuation changed over time.</p><p><br /></p><p>Yet another way to look at it: Cars.&nbsp; Let&#039;s say you have a car that, if it were running, would have a Blue Book value of $1000.&nbsp; But it isn&#039;t running and it will take $1500 to get it running.&nbsp; Does that mean it&#039;s <i>only</i> value comes from being a functional machine, which would mean it&#039;s value is -$500?&nbsp; Of course not, because it also has intrinsic value.&nbsp; Either in the form of salvageable parts or in the metals that can be sold as scrap.</p><p><br /></p><p>The same thing is true right now with circulated pre-65 silver coins.&nbsp; They are worth more for their scrap value than they are worth if you were to use them for commerce as intended.&nbsp; Hence, their intrinsic value is currently more relevant.&nbsp; That is not to say it will never change, or that the numismatic value doesn&#039;t exceed it&#039;s intrinsic value, but it&#039;s something to consider.[/QUOTE]</p><p><br /></p>

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