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Does anyone here use Bitcoins?
tomos:
^ :D you can get drunk on gold too, cant you?
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Precious metals only have an intrinsic value within a system too. They're not directly consumable. They need to be refined, assayed, and agreed upon by whomever. They need both a market and an exchange before they become valued. So I'd like suggest they don't have much 'intrinsic' value outside of the society that assigns such value to them. And once you get outside a technological society, the far more common metals and alloys (iron and steel) are much more valuable (i.e. useful and usable) than the more precious variety which are used in less advanced societies primarily for decoration - if they are used at all.-40hz (October 08, 2012, 06:24 AM)
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I think that's pretty clear.
If precious metals were just valued for their industrial worth, I wonder what they'd be worth (probably impossible to estimate).
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Re the metal in coins, I wonder what it actually costs to make a coins?
I wouldn't be suprised if the smaller nominations cost more than their worth - yup ;) -
As of 2012, it costs the U.S. Mint 2.41 cents to make a cent because of the cost of materials and production.[4]
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http://en.wikipedia.org/wiki/Penny_%28United_States_coin%29
Renegade:
^ :D you can get drunk on gold too, cant you?
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Precious metals only have an intrinsic value within a system too. They're not directly consumable. They need to be refined, assayed, and agreed upon by whomever. They need both a market and an exchange before they become valued. So I'd like suggest they don't have much 'intrinsic' value outside of the society that assigns such value to them. And once you get outside a technological society, the far more common metals and alloys (iron and steel) are much more valuable (i.e. useful and usable) than the more precious variety which are used in less advanced societies primarily for decoration - if they are used at all.-40hz (October 08, 2012, 06:24 AM)
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I think that's pretty clear.
If precious metals were just valued for their industrial worth, I wonder what they'd be worth (probably impossible to estimate).
_______________________________
Re the metal in coins, I wonder what it actually costs to make a coins?
I wouldn't be suprised if the smaller nominations cost more than their worth - yup ;) -
As of 2012, it costs the U.S. Mint 2.41 cents to make a cent because of the cost of materials and production.[4]
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http://en.wikipedia.org/wiki/Penny_%28United_States_coin%29
-tomos (October 08, 2012, 09:17 AM)
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There's about $0.005 worth of materials in a penny. The majority of the cost is production. They're being a bit disingenuous there by calling it "materials and production" as it's almost entirely production costs.
tomos:
^ yes!
I didnt mean to be disingenious there, I should have said that too. Was literally just wondering about the cost of production.
(Obviously if higher value coins were made with valuable metals, that factor would be a relatively small percentage.)
Renegade:
^ yes!
I didnt mean to be disingenious there, I should have said that too. Was literally just wondering about the cost of production.
(Obviously if higher value coins were made with valuable metals, that factor would be a relatively small percentage.)
-tomos (October 08, 2012, 09:34 AM)
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Oh - sorry -- I was pointing the finger there at the Wikipedia article quote. Not you.
And yes -- when minting higher value coins, like silver dollars, the production costs are disproportionately far lower compared to face value and real value.
TaoPhoenix:
I'm with f0dder ...(damn the avoirdupois value)... Where can we go and get screwed out of $2 for one of these cool little trinkets. :D
-Stoic Joker (October 04, 2012, 03:12 PM)
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This is the end of all Marketing threads, anywhere, ever! ;D
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