That explains why we use electronic and paper money now. They've already melted most of these.
The actual value of the material should never be higher than the face value of the coin, otherwise the ris is that the currency will disappear / will be converted to a melted material.
If this is the current value of silver - think how profitable it was 20-50 years ago. Over these years:
dollar was losing the value
silver price was increasing
Option 1: They have 5x $0.25 years ago and lose the value over years cause the inflation.
Option 2: Have the same amount of silver which increases the value.
I know it's illegal to physically destroy the currency. Criminals don't think this way.
Assuming there is a new coin - it should have a face value $5 so 5 of them would be $25, melt value $23, so no incentive to destroy it, so the currency can be in the circulation. It should be actually worth more because it should include the production cost of the coin, which can be "included" by reducing the weight.
Exactly. One of the first lessons I teach my kids is about real money and why fiat will fail. My grandfather taught me about precious metals and I am grateful
That explains why we use electronic and paper money now. They've already melted most of these.
The actual value of the material should never be higher than the face value of the coin, otherwise the ris is that the currency will disappear / will be converted to a melted material.
If this is the current value of silver - think how profitable it was 20-50 years ago. Over these years:
dollar was losing the value
silver price was increasing
Option 1: They have 5x $0.25 years ago and lose the value over years cause the inflation. Option 2: Have the same amount of silver which increases the value.
I know it's illegal to physically destroy the currency. Criminals don't think this way.
Assuming there is a new coin - it should have a face value $5 so 5 of them would be $25, melt value $23, so no incentive to destroy it, so the currency can be in the circulation. It should be actually worth more because it should include the production cost of the coin, which can be "included" by reducing the weight.
The buying power of silver is about the same
People are brainwashed to think in terms of dollars.
Exactly. One of the first lessons I teach my kids is about real money and why fiat will fail. My grandfather taught me about precious metals and I am grateful
We need a c/WallStreetSilver !
Nevermind it exists!
THIS IS THE WAY!