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Thread: more thoughts on cashless society and loss of dropped coins.

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  1. #16
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    Seriously?

    Mar 2008
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    Quote Originally Posted by Swaveab View Post
    Pulltabfelix This is a great possibility of happening as it boils down to a game of numbers. Without the coinage being a precious metal that is all it can be is a numbers game as only precious metals will retain any worthiness or value and inflation acting upon the coinage shall make the coins too expensive for the government to mint at that face value of the coin.
    But what determines the worth of precious metal? It's largely public perception...the same thing that determines the worth of a dollar bill.

    Yes, humans have placed value in gold and silver across many cultures and time periods, but we've also used fiat currency across many cultures and time periods as well; even cultures that didn't have metal sometimes (often?) figured out a currency system of some sort beyond simple barter. A dollar bill's inherent worth is only as a scratch pad or perhaps fuel for a fire, but what's the inherent value of gold or silver to the average human being? You can't eat it. You can't make good tools out of it. There are some industrial uses for both, but not the sort that an average person could take advantage of. To the average person, it's only valuable because other people consider it valuable, and those other people may have something that the first person would be willing to exchange for it.

    In the end, when one considers that currency of any sort is merely a convenient method for storing and trading labor (which does have inherent value, usually), it doesn't really matter what we're using as money, just as long as we all agree on it. Either the person on the other end of the trade considers your currency valuable, or they do not. Many societies now consider 1's and 0's to be functionally equivalent to pieces of paper with numbers and pictures of dead people on them, but both of them are essentially worthless...except that we've all agreed that they're worth something, so they are worth something, and that alone is the reason - our belief in them. Both are essentially Monopoly money, and neither is more valid than the other.

    The same applies to coins. As you know, a few of our coins are worth the metal that they're made of (or close to it), but most are not. This is why if the US Mint started releasing quarters in plastic instead of copper, they'd still be worth $0.25 a piece. The actual material does not matter beyond physical practicality, which is why we don't see coins made of cardboard these days, and why the US government would like us to stop using paper dollars.

    The reason that you won't see countries returning to some sort of a precious metal standard is the same reason they all got off those in the first place: it's a pain in the rear end and introduces a number of uncontrollable variables into a nation's economy. Most modern countries figured this out during the Great Depression, which is how most countries got out of it more quickly than the US did.
    Escape and Hillbilly Prince like this.
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  2. #17
    us
    Jul 2015
    Southwest PA
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    Coins and valuable metals
    Dave, you could be right, but I see too many problems going money free. Banks basically are just exchanging numbers rather than money and one wrong glitch and it could be very devastating not only to the economy, but to individuals as well so the glitches can be large or small. How does one hold onto numbers like i can hold onto cash?

  3. #18
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    Quote Originally Posted by chub View Post
    The only thing I dont like about cash....is getting coins in change. They are annoying and worthless where I live. I think Euro coins and the Aussie $1 and $2 coins have some value....but how much is a can of coke ?$1.50?

    Chub
    I only use cash, one of the reasons is all of the old coins I get back in change. This year I received 2 silver quarters, one silver dime and a half-dozen wheats.
    Megalodon likes this.
    When I listen to LED ZEPPELIN...so do my neighbors

  4. #19

    Oct 2018
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    All Types Of Treasure Hunting
    DON'T TAKE THE MARK OF THE BEAST!

    seriously tho... no turning back after that folks.
    gold boy likes this.

  5. #20
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    Quote Originally Posted by macronova View Post
    DON'T TAKE THE MARK OF THE BEAST!

    seriously tho... no turning back after that folks.
    Millions of cell phone and credit card holders are wrong?
    When I listen to LED ZEPPELIN...so do my neighbors

  6. #21

    Oct 2018
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    70 times
    All Types Of Treasure Hunting
    Quote Originally Posted by fistfulladirt View Post
    Millions of cell phone and credit card holders are wrong?
    Nah, I'm talking about the RFID chip.
    gold boy likes this.

  7. #22
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    Quote Originally Posted by fistfulladirt View Post
    I only use cash, one of the reasons is all of the old coins I get back in change. This year I received 2 silver quarters, one silver dime and a half-dozen wheats.
    I love getting change back too. The only reason I use credit cards is for the rebates (2% at least, sometimes 5%), but I pay the credit card bills in full and avoid any interest.
    ticndig likes this.

  8. #23
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    Quote Originally Posted by Ammoman View Post
    When it comes to metal detecting, let cashless come now! I'm tired of digging clad. The coins i am looking for are mostly dated before 1964 and before the 1980 when it comes to pennies. As i see it, less clad means more opportunity for jewelry.
    I'll hunt a spot longer if I'm finding older style pull tabs than if I'm finding deep clad targets. I consider the older pull tabs to be a better indicator of silver.
    cactusman likes this.

  9. #24
    Charter Member
    us
    Classic car lover

    Jul 2017
    some where in the great state of Texas
    Teknectics eurotek pro bounty hunter time ranger bounty hunter quick draw 2 used a teroso compadre. Carry a 22 cal. six-shooter.
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    Quote Originally Posted by macronova View Post
    DON'T TAKE THE MARK OF THE BEAST!

    seriously tho... no turning back after that folks.
    i'm with you i ain't going to take it

  10. #25
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    Quote Originally Posted by macronova View Post
    Nah, I'm talking about the RFID chip.
    So was I.
    When I listen to LED ZEPPELIN...so do my neighbors

  11. #26
    Charter Member
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    Seriously?

    Mar 2008
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    This thread just keeps delivering.
    Avatar taken from "The Biting Pear of Salamanca." See the original here: http://ursulav.deviantart.com/art/Th...manca-29677500

  12. #27
    us
    WolfPack member

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    The Truth
    I guess somebody here is looking forward to a cashless societyCertain info is verboten.
    YOU KNOW MY STANCE,LIVE FREE OR DIE

    Liberals,too stupid to know that they are really communists.

    ďA manís rights rest in three boxes: the ballot box, the jury box, and the cartridge box.Ē


    During times of universal deceit, telling the truth
    becomes a revolutionary act. -- George Orwell


  13. #28
    Charter Member
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    Jul 2006
    Orlando, Fl
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    Quote Originally Posted by Red James Cash View Post
    I guess somebody here is looking forward to a cashless societyCertain info is verboten.


    Any more politics posted and thread will be locked and disappear.
    PLEASE READ OUR RULES. CLICK HERE TO READ ------> TreasureNet.com Rules

    2nd Amendment
    "A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed"

    Si vis pacem, para bellum "If you want peace, prepare for war!

    USAF 1967-1971

    I do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic..."

    No Expiration Date!

  14. #29
    us
    WolfPack member

    Aug 2009
    New Hampshire
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    The Truth
    There wasn't any politics
    YOU KNOW MY STANCE,LIVE FREE OR DIE

    Liberals,too stupid to know that they are really communists.

    ďA manís rights rest in three boxes: the ballot box, the jury box, and the cartridge box.Ē


    During times of universal deceit, telling the truth
    becomes a revolutionary act. -- George Orwell


  15. #30
    Charter Member
    us
    Jul 2006
    Orlando, Fl
    Minelab_Equinox_ 800 Minelab_CTX-3030 Minelab_Excal_1000 Minelab_Sovereign_GT Minelab_Safari Minelab_ETrac Whites_Beach_Hunter_ID Fisher_1235_X
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    Quote Originally Posted by Red James Cash View Post
    There wasn't any politics
    Red you know our rules, it also isn't open for further debate or discussion.
    PLEASE READ OUR RULES. CLICK HERE TO READ ------> TreasureNet.com Rules

    2nd Amendment
    "A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed"

    Si vis pacem, para bellum "If you want peace, prepare for war!

    USAF 1967-1971

    I do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic..."

    No Expiration Date!

 

 
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