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<p>[QUOTE=&quot;Ken Dorney, post: 3198840, member: 76086&quot;]Throughout history and with nearly all cultures currency of better value (often simply perceived) has always been hoarded.&nbsp; Debased coinage would have been used to pay taxes or when/where it didnt matter.&nbsp; Higher content coins like Republican era denarii would have been hoarded or spent when certain merchants were reluctant to accept the debased coinage at &#039;face&#039; value.&nbsp; For example the vast majority of Marc Antony legionary denarii are in fairly poor condition having been circulating for 100 years or more.</p><p><br /></p><p>And the historical record is filled with failed experiments.&nbsp; The Chinese emperor Wang Mang (7-23 AD) instituted many monetary reforms, one of which was to issue a new set of fiat coins in which the metal content was irrelevant to the denomination and metal value.&nbsp; It was wildly unpopular and coins of previous issue were hoarded and used instead of the new.&nbsp; He had to issue a proclamation of death for anyone caught using the old money, but people still wouldnt use his currency.[/QUOTE]</p><p><br /></p>

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