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<p>[QUOTE=&quot;medoraman, post: 14214030, member: 26302&quot;]The reason we always had paper money more in circulation is people simply prefer it. Silver dollars were minted to back silver certificates, no one wanted the physical coin. Same with gold to a large extent as well. </p><p><br /></p><p>Given how modern economies work for more than a century, PM coinage will never work. The real &quot;dollar&quot; in circulation around the world are US Treasury notes. Given they bear interest, there will always be inflation. Given inflation, at some point the metal contained in the coins will someday be worth more than face value. Its inevitable. Its like saying someday silver will be $100 an ounce. Of course it will, but WHEN is unknown, and that does not make silver a good investment necessarily. Once you lock into the fact the USD is really interest bearing notes and not the currency in your wallet, it makes more sense. The stuff in your wallet is an interest free loan the the US government. </p><p><br /></p><p>I buy coins, US, world, ancients, as a hobby. I own US junk silver coins as a sideline to that hobby and a little of a contra asset, (insurance policy if SHTF scenarios), but never as a main investment. </p><p><br /></p><p>Romans didn&#039;t have the ability to print money so they debased and forced acceptance at the point of a sword. Why late Roman coins were bronze for local use and gold for foreign payments is more complex. The Silk Road mainly only wanted silver, so all silver in the Roman empire was sucked out of it to pay for the luxuries from the silk road imports. That is why silver coins from the 4th and 5th century are rare, almost all silver went to Persia and eventually China to pay for imports. If you notice, Parthian and Sasanian coins are almost all silver with local coppers. Gold coins were only for ceremonies. Persian silver was the official currency of the Silk Road because the Persian received them back in tolls, so had to keep their silver coins good silver, which also lead to Chinese merchants freely accepting them.[/QUOTE]</p><p><br /></p>

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