02.04.2013 11:44 AM

A penny for your Googled thoughts

3 Comments


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    Michael says:

    It should now be a nickel for your thoughts.


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      Paul says:

      An interesting story: a “nickel” hasn’t been a real nickel since 1981. In ’82 they switched from 99% nickel to an 80/20 nickel/copper alloy and then in 2000 it became mild steel with a thin plating just like all the worthless fiat coins we have today. The penny remained mostly copper until it, too succumbed to the Mint’s “revolutionary” new coin-making process in 1996 or so.

      A 1981 nickel is worth 8.33 cents in melt value at current spot nickel prices, which will only continue to rise with inflation. Stick a 2013 nickel in your drawer and in 30 years it’ll be worth… five cents (which due to inflation would buy far less than a penny would today), since there is next to no intrinsic metal value in the coin itself. This is how they have debased the value of our currency. In fact, it is the very definition of the word. Our money is no longed “based” on anything but BS.

      http://www.coinflation.com/canada/

      Don’t even get me started on the fact that Canadian coinage used to contain 80% silver up until about the mid-1960s! If only I had a time machine…


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    Ronald O'Dowd says:

    Warren,
    Michael,

    If my name was Emperor of Canada, it would be a quarter for your thoughts. I would ditch the rest, pronto.

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