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Why did most ancient civilizations debase their currency over the centuries?
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<p>[QUOTE="hotwheelsearl, post: 7689594, member: 75143"]USD was metal backed until 1971 when the silver standard was abolished. However, nobody I know of cared at the time. One day coins were mostly silver and the next they were mostly not silver. Some folks stacked silver, sure, but by and large the average consumer didn’t know and if they did, they didn’t care.</p><p><br /></p><p>buying power was not decreased when silver disappeared.</p><p><br /></p><p>In the context of ancients, as long as the buying power of a bronze coin with silver wash was the same as a silver coin, then they would not have really cared so much and just gone on with their day.</p><p><br /></p><p>let me ask you - if the US coinage went from being a majority copper to a majority tin (a much cheaper metal), would you care? Would you HOARD the older ones? Maybe a bit, but overall your tin quarter still buys the same gumball as the copper quarter. Life keeps on keeping on[/QUOTE]</p><p><br /></p>
[QUOTE="hotwheelsearl, post: 7689594, member: 75143"]USD was metal backed until 1971 when the silver standard was abolished. However, nobody I know of cared at the time. One day coins were mostly silver and the next they were mostly not silver. Some folks stacked silver, sure, but by and large the average consumer didn’t know and if they did, they didn’t care. buying power was not decreased when silver disappeared. In the context of ancients, as long as the buying power of a bronze coin with silver wash was the same as a silver coin, then they would not have really cared so much and just gone on with their day. let me ask you - if the US coinage went from being a majority copper to a majority tin (a much cheaper metal), would you care? Would you HOARD the older ones? Maybe a bit, but overall your tin quarter still buys the same gumball as the copper quarter. Life keeps on keeping on[/QUOTE]
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