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<p>[QUOTE=&quot;Onofrio Bacigalupo, post: 2604407, member: 67122&quot;]So you sold them for $5.00 a piece.&nbsp; Yes, I should have thought of that when I&nbsp; was a child.&nbsp; I couldn&#039;t foresee what Johnson and Nixon would do with our American coins.&nbsp; </p><p>Gresham&#039;s law is a monetary principle stating that &quot;bad money drives out good.&quot; In currency <a href="http://www.investopedia.com/terms/v/valuation.asp" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.investopedia.com/terms/v/valuation.asp" rel="nofollow">valuation</a>, Gresham&#039;s Law states that if a new coin (&quot;bad money&quot;) is assigned the same <a href="http://www.investopedia.com/terms/f/facevalue.asp" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.investopedia.com/terms/f/facevalue.asp" rel="nofollow">face value</a> as an older coin containing a higher amount of precious metal (&quot;good money&quot;), then the new coin will be used in circulation while the old coin will be hoarded and will disappear from circulation.</p><p><br /></p><p><font size="5"><b>BREAKING DOWN &#039;Gresham&#039;s Law&#039;</b></font></p><p>Coins were first made with gold, silver and other precious metals, which gave them their value. Over time, the amount of <a href="http://www.investopedia.com/terms/p/preciousmetal.asp" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.investopedia.com/terms/p/preciousmetal.asp" rel="nofollow">precious metals</a> used to make the coin decreased because the metals were worth more on their own than when minted into the coin itself. If the value of the metal in the old coins was higher than the coin&#039;s face value, people would melt the coins down and sell the metal. Similarly, if a low quality good is passed off as a high quality good, then the market will drive down prices because consumers won&#039;t be able to determine the good&#039;s <a href="http://www.investopedia.com/terms/r/real-value.asp" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.investopedia.com/terms/r/real-value.asp" rel="nofollow">real value</a>.[/QUOTE]</p><p><br /></p>

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