How To Make Silver Coins Essay

Plautus once said “You have to spend money to make money,” a quote made painfully true by the penny, a coin worth 1/100th of a dollar. The penny’s story starts in 1792 with the first U.S. Mint which produced the dime, quarter, nickel, penny and half penny which we will get back to later. Pennies were originally made of 100% copper, however, as prices of copper rose they soon started to make pennies out of 95% zinc and 3% copper, which is how they are made today. Soon after this, the raw material of pennies began to cost more than the penny itself was worth, therefore people began to melt them down and sell the material for profit. When this occurred, instead of the government getting rid of the pennies all together and being happy citizens where removing them from circulation they made melting the currency down illegal and continued producing 4 billion pennies a year! You can find these tiny useless coins anywhere from in your couch cushion to on the sidewalk. The reason we should stop minting pennies is that they cost money, waste time, are bad for the environment, and they are useless.

However the less privileged people such as the poor couldn't afford to pay that amount of silver. This led in social anarchy. This caused for negative social effects, this made people go/take extreme measures.

(documents 2, 3, and 5). Another effect that the flow of the silver bullion has

President Lincoln who is a great model of the USA, " would be ashamed to have his face on this specious specie"(Source C). Why would they put the face of a great president who did good things in the US on a piece of copper that has no value what so ever. He will feel no gratitude toward the country by repaying his hard work in a non-valuable piece of copper that should be helping but its really not. As years pass by, the economy is changing by how much money is worth by stating that, " you can't buy anything with a penny any more"(Source C). The penny was worth more back then but now you can't even buy a piece of gum with it. If the penny can't even buy a product why keep it around, its not like its being used. It can also be said that, " Two-thirds of them immediately drop out of circulation" (Source C). Meaning to say that approximately sixty-six percent of pennies disappear or just end up in a place where it will eventually be

When walking through the streets, have you noticed penny coins on the ground? If you did, did you wonder why? People today don’t find value in pennies, so when dropped, they don’t bother to pick them up. They degrade penny coins and want to eliminate the coins. Penny coins shouldn’t be eliminated because it has history and is valuable.

First, the U.S. Mint spends twice as much money than they really need to, to create the penny. To validate, the penny production is worth around decuple times more than the actual penny itself. As articulated by “Livingston”, “According to the 2014 Annual Report from the U.S. Mint, it now costs $0.017 - or 1.7 cents - to make one cent. That means whenever the Mint produces a penny and sends it out to a bank, it is actually losing money on the deal.” Second, the overall total the government spends on pennies is over millions of dollars. In particular, the U.S. Mint produces eight billion pennies in one year, and the prices of the coin add up in an overall total of millions of dollars. As stated by “Browning”, “Eight billion pennies still add up to eighty million in pennies the government spends 134 million

In fact, after the passing of the Coinage Act, these coins were never again seen until 1914 at the American Numismatic Society

Offered in 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz denominations, these coins are guaranteed by the U.S. government to contain the stated amount of actual gold weight in troy ounces. By law, the gold must come from sources in America, alloyed with silver and copper to produce a more wear-resistant coin.

The gold sovereign consequently turned into the most astounding unit of quality, over the previous sterling cash. This change was joined by two further advancements. Initially, the supply of silver significantly expanded with the disclosure of huge stores of silver-bearing minerals in North America and Australia and the recharging of movement and fare of silver from since a long time ago settled mine operations in Mexico, South America, Germany, Spain, and Austria. Second, there was a huge extension of the white collar class in Europe, America, and Britain

Numismatic comes from the Latin word, numisma, which means “coin.” These old coins are ones that hold more value than the material they are made of—such as gold coins—and collectors have the most interest in them. This type of coin doesn’t have to be rare; typically,

From 2005 to 2009, Palladium Maple Leaf coins were offered. Platinum Maple Leaf coins were struck in various weights between 1988 through 199 and again in 2009. Special issue sets have also been minted.

Many American bullion buyers seem to prefer US Mint bullion coinage as the foundation of their bullion stack (American Eagle & Buffalo coins) given that they are indeed legal tender in the USA (see 31 U.S. Code § 5103).

The task of actually hiding and safely storing one’s physical silver bullion close to hand (outside of the financial system) is not very difficult. A key to successful high value silver storage is often found in a person’s creativity and ability to outwit a would-be criminal.

A lot of collectors buy silver bullion coins for their collectible value. These coins are quite valuable and often very rare. The modern silver bullion coins like the American Silver Eagle are also very beautiful coins. They hold their value because they are 99.9% pure silver. The coins are almost always worth much more than their face value. They are also a smart investment if the purchase price does not far outstrip the value of the precious metal of the coin.

Gold was used for many different things and it was valued very much during the past and even now it is valued. A common use of gold was when it had been turned into