If a government says it no longer has value, how would that increase its value?
It doesn't matter if the government says an asset has value or not.
The asset has value if people agree that it has value.
If the government destroys 99% of all cash but only removes 98% of the demand: the value of cash doubles.
It's still an asset that's hard to counterfeit that everyone has already agreed has value.
You can't un-brainwash the population and tell them cash has no value.
That takes generations. The timelines don't add up.
Creating a black market for an asset will always increase its value.
Maybe numismatists would consider it to have some value (much like some Confederate money does), but I doubt that anyone bought and sold anything for Confederate currency in 1866.
This is my favorite coin.
Liberty Silver Dollar.
I have many of them.
1 Ounce 90% pure junk silver.
I bought them at $6-$9.
They are now worth $30.
Yeah, and I also like the walking Liberty half dollars, fairly common in circulation when I was a kid. At least as far as half dollars go, never a particularly popular denomination. Because cash registers never had a place for them? Chicken/egg?