Once the economy collapses

[Usc96]

Once the economy collapses, will non-precious metal coins be worth anything? Think about all of the modern coin collectors out there? NGC and PCGS have plenty of collectors paying big bucks for high grade (MS70) modern coins for their registry sets.

Has there ever been a time in history where the government debased the coinage like today's governments have done with modern coinage since 1965? If so, what happened to that pretender coinage? Do people still collect it, or do people stick to gold, silver and copper?

Thanks.

[TimoneX]

Once the economy collapses, will non-precious metal coins be worth anything? Think about all of the modern coin collectors out there? NGC and PCGS have plenty of collectors paying big bucks for high grade (MS70) modern coins for their registry sets.

Has there ever been a time in history where the government debased the coinage like today's governments have done with modern coinage since 1965? If so, what happened to that pretender coinage? Do people still collect it, or do people stick to gold, silver and copper?

Thanks.

Good question. Rome? Remember most of those clad coins are primarily copper. Tough to see zinc pennies as ever being worth much, but with the way they disolve into nothingness who knows.

[GOLD DUCK]

QWAK,I had about 20 of the old Roman clad copper coins that an uncle had brought back after ww2 --- I went to a coin dealer thinking because they were so old they must have high value --- he showed me trays full of them and back in 86 only offered about $1.00 for each!

There are lots of them out there, they are sort of a novilty and some companies sell them and some fools buy them for about $20.00 each but they have no real intrinsic or collector value.

Even the SILVER coins don't have high value as over the years they put more tin in the mix and went from almost pure SILVER to less than 20%.

I actualy gave away several SILVER Roman coins but I dbout the people I gave them to apreciated what they were -- just looked like very worn modern beet up -- SILVER dimes.

Just BULLION --- that is all that will matter!

the DUCK

[Gcubed]

Once the economy collapses, will non-precious metal coins be worth anything? Think about all of the modern coin collectors out there? NGC and PCGS have plenty of collectors paying big bucks for high grade (MS70) modern coins for their registry sets.

Has there ever been a time in history where the government debased the coinage like today's governments have done with modern coinage since 1965? If so, what happened to that pretender coinage? Do people still collect it, or do people stick to gold, silver and copper?

Thanks.

Mexico in the early 90's. Google "Nuevo Peso" and you should get an education. "Old" Peso coinage met its way to the furnace for base metal values.

[Usc96]

Mexico in the early 90's. Google "Nuevo Peso" and you should get an education. "Old" Peso coinage met its way to the furnace for base metal values.

I remember those days. I remember going to a Japanese Steak House in Cancun and the bill coming in at 150,000 pesos. We felt like hot shots spending money like that. A few years later they moved the decimal point over and issued the Nuevo Peso.

[glockngold]

Mexico in the early 90's. Google "Nuevo Peso" and you should get an education. "Old" Peso coinage met its way to the furnace for base metal values.

"New Dollar" has a kind of sexy ring to it!

Nuevo peso

As noted above, the nuevo peso (new peso) was the result of hyperinflation in Mexico. In 1993, Presidente Carlos Salinas de Gortari stripped three zeros from the peso, creating a parity of $1 New Peso for $1000 of the old ones.

[Mr Paradise]

The guy that throws a Molotov cocktail through your window won't care what grade your NGC coins are.

[917601]

Point? people still as a whole still used money,even if badly inflated deflated.Sorry, the economy may tank,but the dollar will still be around.As said before,study Argentina and their running collapse, still using pesos.The dollar,euro,and pesos will still be used for some time.

[Hope+Change]

No.

And I'd bet those old roman copper coins are common due to hundreds of years of counterfeiting?

[Oldmansmith]

Point? people still as a whole still used money,even if badly inflated deflated.Sorry, the economy may tank,but the dollar will still be around.As said before,study Argentina and their running collapse, still using pesos.The dollar,euro,and pesos will still be used for some time.

Yeah Argentina is still using the peso, but it isn't worth crap. When I was there in the 80's I got one million pesos in change (I still have one!). At first I thought I had gotten lucky, but someone pointed out in Spanish that it was after they had changed the currency, and an old bill with commas was worth much less. You needed to take so many zeros off, so it was worth 1,000 pesos, or about 5 bucks at the time.

Still, I am definitely a millionaire in peos.

[Kingfisher]

As far as collecting goes, people collect stuff. Look at stamps. Not much usage value there but people "collect" them even though they are not stacking them. At least I don't think they are.

[JoBob]

Point? people still as a whole still used money,even if badly inflated deflated.Sorry, the economy may tank,but the dollar will still be around.

Still around but worth nothing as a monetary unit. Remember the photos of people burning inflated Marks during Germany's hyperinflationary episode because the paper was worth virtually nothing? The Dollar is fiat. Don't count on it.

[latemetal]

What size washer do you need?, what size drill bit do you have? I used a lot of pennies as washers over the years and if I had a choice of stopping a job to run down to the hardware store or drilling a quarter, guess what I'm doing?

[JoBob]

What size washer do you need?

I think they may have a few of those fuses in a museum somewhere

[Ragnarok]

Penny diameter = .75 inch
10 ga bore diameter = .77 inch

R.

[GOLD DUCK]

Penny diameter = .75 inch
10 ga bore diameter = .77 inch

R.

QWAK,Billy the Kid once killed a Depuity with a 12 gage double barrel shot gun and the shells were hand loaded by the Deputy with 10 SILVER DIMES in each shell!

The Deputy had been taunting him about the load in the shot gun and when the Kid sliped his hand cuffs and got hold of the shot gun -- left just out of reach by the Deputy -- the Kid gave him $2.00 in SILVER dimes and damn near cut him in half!

And escaped after the shooting from the jail!

the DUCK

[aybesee123]

The guy that throws a Molotov cocktail through your window won't care what grade your NGC coins are.

What fantasy scenario do you imagine where someone throws a moltov cocktail through your window for no reason?

[Mr Paradise]

I call it, the future.

[AguA]

What fantasy scenario do you imagine where someone throws a moltov cocktail through your window for no reason?

I've been stationed in enough sh*tholes in this world that were collapsing to see that happen and worse. The reason? Usually just because their religion or color or ethnic background or (fill in the blank) was different.

The trouble between the Serbs, Croats, and the Muslims in the FRY is one very easy example. I've got others. Once beautiful places turned upside down through collapse of their norm.

You don't think that could happen here? There are plenty of reasons it could, but I just pray it doesn't ever get that bad. It isn't pretty, even if it's regional only.