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To: Moltke
They could rename it to something with a bit more clout.

If you look into the derivation of so many currencies, modern and ancient, you see that the come from a designation of weight. The British 'Pound', the Italian Lira, the Biblical Talent as well as the Peso all started with a concept of a weight of precious metal. Then along come governments who inflate and devalue the concept into meaninglessness!

An interesting factoid for non-numismatists, the reeded edges of US Coins greater than the Nickel, were an anti-devaluation guard against 'shaving' of silver & gold coins. Prior to this minting technique, a bit of money could be 'made' by shaving (lightening) a large number of bullion coins. With the reeding, the marred coin is obvious and unacceptable.

46 posted on 09/16/2016 7:31:56 AM PDT by SES1066 (Quality, Speed or Economical - Any 2 of 3 except in government - 1 at best but never #3!)
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To: SES1066
an anti-devaluation guard against 'shaving' of silver & gold coins. Prior to this minting technique, a bit of money could be 'made' by shaving (lightening) a large number of bullion coins.

I had an Indian friend that told me they use a leather bag now and just shake gold coins in it wearing the coins down then exchange them for new ones and recover the gold that is captured in the leather bag.

As an aside I was stationed outside Ft. Sherridan in Illinois and often had to go into Chicago where I picked up some lead quarters and dimes. That was in 57. Gold was still $35.00 and Silver was $1 dollar an ounce. Prices did not constantly go up every month.

69 posted on 09/16/2016 8:22:17 AM PDT by itsahoot (GOP says, Vote Trump. But if your principles won't let you, Hillary is OK.)
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To: SES1066

Cool, thanks. The first I was aware of, the second was new to me!


77 posted on 09/16/2016 9:23:21 AM PDT by Moltke (Reasoning with a liberal is like watering a rock in the hope to grow a building)
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