What is a CENT ? It is a french word that in english means HUNDRED.
ONE CENT I was taught was one HUNDREDTH, and ONE HUNDRED CENTS
EQUAL A DOLLAR. BUT IS THIS TRUE? The CENT I knew growing up was defined as such.
Alloy: 98% copper, 0.5% tin and 1.5% zinc | Weight: 2.5 grams
Diameter : 19.1 mm (12 sides) Thickness: 1.45mm
https://www.coinsandcanada.com/coins-prices.php?coin=1-cent-1986&years=
That is not what we have today. In 97-99 they started
using 98.4% zinc, 1.6% copper plating. Then in 2000 they
released the 94% steel, 1.5% nickel, 4.5% copper plating Penny.
Upon further reading, this is what the United States also uses.
Production of the penny ceased in May 2012, and the Royal Canadian Mint ceased distribution of them as of February 4, 2013.
21/02/21 0.00000013 BTC = $0.01 CAD
If our old dimes had 2.5g of 98% copper, our Penny should be worth 0.022287 USD at todays copper price of 4.0436/pound. In Canadian that is $0.028112 which might not seem like much but seems to me to be the equivalent of $100 being worth $281.
http://www.kitcometals.com/charts/copper_historical_large.html
And thats not all.
Our dimes used to have Silver in them as well.
From 1920 - 1967 their composition
was 2.33g 80% silver, 20% copper.
From 2000 to today their composition is
just 1.75g of 92% steel, 5.5% copper, 2.5% nickel.
A pre-1967 dime has 80% silver so 1.864g worth $1.6331 USD or $2.0598 CAD.
Yes, a pre-67 Canadian dime is worth $2. That is like $100 being worth $2,059.80 !
https://www.kitco.com/charts/livesilver.html
The value of Copper and Silver rising
yet our money is not money anymore. It is mostly steel.
Steel is only worth $1.79/kg, making our currency a joke.
Bitcoin might be the one last chance we have
for our generation to have a true store of value.
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Insightful post. Pres 1968 Quarters have 92.5 % silver. Making it worth looking through pocket change for them as they are already worth more then face value at the spot price of sterling silver.
I need to check the dates on my change more often because I have found a few coins with silver during my life! Better yet we should start minting Silver pennies and Gold dimes! Put the value back in our money. We have the resources, we have the technology, yet our politicians have decided that the Loonie is better off backed by NOTHING. I don't particularly agree, and my opinion is that we need to fix the money or little else really matters. It's the only thing holding our social contract together and preventing us from descending into the madness of the jungle.
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I could not agree more. When nothing backs a token the only value is the token weight of metal. Although those plastic bills we use are going to be good as reusable toilet paper. (they are close to being so already) When people panicked and bought shxt tickets I converted large bill into 5$ bills to wipe with and then I really laundered the money. hahah
Plata O Plomo = Backed by work or backed by force.
Spanish or Latin, I'm not sure. Either way, I like that quote. 👍👍
Be careful with coins dated 1968. I think that was a transition year, and that means coins of 2 weights are floating around. You would need a scale or a ruler to differentiate them:
Modern cash is just a token. It seems people use it less anyway, but they still have to make it hard to fake. I have some old British coins with a little silver in them, but they are not worth much.
I'm not convinced just Bitcoin is the answer to all issues. It's largely held by those who were already wealthy and the mining is not sustainable. Digital money of some form will be the future, but we will have to see which ones will last.
Cheers! some some !wine
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Yes we definitely can! Join the discord channel here and we can chat https://discord.gg/g7bTDqN4
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