Date: Nov 13, 2012 11:49 PM
Author: kirby urner
Subject: Re: Marketing + Mathematics = Money! (Are YOU being coined by Devlin?)
On Tue, Nov 13, 2012 at 5:54 PM, Jonathan Crabtree
> It does crazy things to arithmetic.
I could see doing some useful lesson plans around this.
The idea that the constituent metals making up a coin roughly
correspond to their relative value is not one that explains the
relative value of paper bills very well.
In terms of the paper it's printed on, $100 isn't worth much more or
less than $5.
What you want to avoid is a price for the raw metal that considerably
higher, per ounce, than what the coins represent.
In that case, they'll be melted down and sold for content.
However, if coins are rated as higher worth than their constituent
metals (the norm), then preserving them as coins is the better value.
But then most money is not so-called "M1" in physical form anyway.
Bank accounts hold electronic bits. Such money has no specific medium
(not paper, not metal).
The commercial value of these tokens has everything to do with their
being difficult to duplicate easily / inexpensively.
You could use plastic poker chips for money if their circulation could
Money is copy protected and its manufacture is proprietary.