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Old 07-08-2008, 08:56 AM
 
Location: The Woods
17,199 posts, read 22,939,721 times
Reputation: 9645

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Yep, pennies before 1982 (it changed in 1982 but it's not worth the effort trying to sort out the copper 1982's and the zinc ones) and any nickel (wartime silver ones from 1943, 44 and 45 are worth more money) are worth more than face. I'm saving them. It was illegal to melt silver coins for a while 30-40 years ago, but that ended because the govt. couldn't stop it especially with the dollar getting so inflated. I'm just holding onto mine for now...it's kind of fun going to a bank, getting a roll of coins, and knowing you made money just by doing that.
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Old 07-08-2008, 08:58 AM
 
Location: In The Outland
6,023 posts, read 12,227,278 times
Reputation: 3535
Metal coins are in essence bullion. Paper money are trust notes. Maybe we should make our coins trust tokens and make them out of recycled plastic !
There is some small island nation that uses plastic coins. Fake scrimshaw coins. I think it's The Turks and Caicos.
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Old 07-08-2008, 09:09 AM
 
Location: The Woods
17,199 posts, read 22,939,721 times
Reputation: 9645
Quote:
Originally Posted by rickers View Post
Metal coins are in essence bullion. Paper money are trust notes. Maybe we should make our coins trust tokens and make them out of recycled plastic !
There is some small island nation that uses plastic coins. Fake scrimshaw coins. I think it's The Turks and Caicos.
THat would tell a lot about how far we've slidden economically. Just 45 years ago we still used silver coins and the dollar was backed by gold. Now we're considering plastic coins. We did it quicker than it took the ancient Romans. LOL
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Old 07-08-2008, 09:47 AM
 
Location: In The Outland
6,023 posts, read 12,227,278 times
Reputation: 3535
Yes and there was a post on us converting to the metric system. It's already happening under our noses !
Screw it ! I'm getting to old for serious discussions any more. I'm going fishing today and I hope I get bug bit and sunburned ! It's gotta be more pleasant than worrying about our money or the price of gas and food !!!
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Old 07-08-2008, 11:16 PM
 
1 posts, read 1,705 times
Reputation: 10
Yes,

Very much interesting, thanks a tonne for sharing...
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Old 07-09-2008, 05:07 AM
 
Location: Backwoods of Maine
7,250 posts, read 8,563,981 times
Reputation: 19624
Quote:
Originally Posted by arctichomesteader View Post
THat would tell a lot about how far we've slidden economically. Just 45 years ago we still used silver coins and the dollar was backed by gold. Now we're considering plastic coins. We did it quicker than it took the ancient Romans. LOL
Every currency in the world is now pure fiat - paper debt-based garbage backed by nothing, and printed excessively by the central banks. All these currencies "float" in regard to each other. So, when they say that the dollar is "up" or "down", that is in relation to other paper currencies on the world Forex market. It is not in relation to gold, or anything tangible.

Just a couple of months ago, Congress voted to change the composition of both the penny and the nickel. Within another year, the new STEEL pennies (with a light coating of copper) and "nickels" will be put into circulation. Since the nickel (now) is worth about 7.7 cents, it is the better deal of the two (penny worth about 1.6 cents), to go to the bank and just buys rolls of nickels. Every payday I buy $20 worth at the bank (ten rolls of nickels). The worst that could happen is that they would be worth just what I paid for them.

The real screw job was back in 1964 when they took the silver out of our coinage. I'm not so concerned about nickel or copper. I want my silver back! And my gold! So that is what I "buy". I don't "invest" in the precious metals - I exchange worthless paper for real money. And for those who say "it isn't real money", I say, it has been for 6,000 years and that's good enough for me! It will be again, and the way the economy is going, that day may come sooner rather than later!
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Old 07-09-2008, 08:50 AM
 
55,027 posts, read 43,874,554 times
Reputation: 34430
Quote:
Originally Posted by TexianPatriot View Post
so it's perfectly legit for the federal reserve to destroy money, but we the people cannot? There's nothing like waking up to the illusion of freedom but finding yourself living in chains to the federal bureaucracy. Wake up sheeple.
Wow, you are really smart. I'm glad you enlightened all of us on this topic with the intelligent and well presented argument that you constructed. I truly look forward to searching and reading your other posts for more pearls of wisdom.
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Old 07-09-2008, 10:47 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,156,712 times
Reputation: 6374
Quote:
Originally Posted by Nor'Eastah View Post
Every currency in the world is now pure fiat -


Sorry...couldn't resist.....

There is one more thing you can do with nickels....by the way....

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Old 07-12-2008, 12:55 PM
 
Location: In The Outland
6,023 posts, read 12,227,278 times
Reputation: 3535
Remember the "Golden Rule";

He who has the gold,
makes the rules !
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Old 08-09-2012, 10:30 PM
 
1 posts, read 779 times
Reputation: 10
Default Federal Reserve

Just FYI, the U.S. government has never manufactured any kind of currency. It gets its money from the same place the rest of us do: the Federal Reserve, which is no more federal than FedEx. Look on the bills. It says right on them: "Federal Reserve Note". The government borrows money from the Fed and it charges interest like a bank. Who runs the Fed? A group of very powerful, very wealthy, unelected white guys. As for melting down pennies, why not? It removes money from circulation, increasing the value of what's left.
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