Message:

<p>[QUOTE=&quot;mlov43, post: 9403188, member: 16729&quot;]This highlights the problem with making money out of precious metals.</p><p><br /></p><p>The Chinese, for example, did not want money (coin) to be made of precious metals, for the very reason that if coins are made of precious metals, the coins will be shaved, debased, but mostly hoarded because people understand precious metals as a <b>commodity</b>. </p><p><br /></p><p>Hoarding immobilizes &quot;money objects&quot; from circulation. Therefore, to the Chinese of the past, &quot;money items&quot; like coins should be made of only base metals.&nbsp; To them, coins were only a seen as a means of exchange and a measure of value, and NOT a &quot;store of value,&quot; like many Western societies believed. This is why you see that the Chinese coins of the &quot;cast coin&quot; era (the round coins with square holes in their middles) are only made of base metals like copper and tin, etc.[/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