Here’s another example of inflation. When the coins are worth more for their metal value than they are worth as money. It’s already happened with the US pennies produced from 1909-1982. They’re made of 95% copper and worth 117% more than “one cent.” Check it out here.
Needless to say, pennies made after 1982 have been made with much less actual copper inside them. The US Mint got smart about that! Time to save our precious metals.
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{ 2 comments… read them below or add one }
Yep- I’ve been saving my loose change for probably 10 years now and at some point I figure I’ll cash it in, but I definitely will hold onto the coins which have a market value higher than the face value.
If I’m not mistaken, nickels are the same way as they contain mostly copper?
Great idea, Blake… well according to the source above, anyway, the nickel’s value as money is still worth more than the amount of metal in it. It’s true that some coins are now alloys (mixes) of different metals, in order to cut on costs.