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From: "Dr. Terry S. Walker" <>
Subject: Re: [CHS] Ancient Inventory (1611) - Lesson 2 = Money
Date: Wed, 30 Nov 2005 08:55:30 -0500
References: <29a.9a01ca.30bede94@aol.com>


I can't remember exactly when during the late 1960's and early 1970's all the 'silver' coins still
in circulation that contained even a moderate proportion of silver gradually disappeared because the
high price of gold and silver made it worthwhile to melt the coins down and refine the metal to a
higher silver content.

I can't speak for today but some years ago in the 1990's after my mother-in-law died and we found a
George V sovereign among her possessions its value was only that of it's gold content and not for
it's rarity as a GR V sovereign.

terry

wrote:
> Hi Babs,
> You wrote :
> "Going further back didn't one king severely punish his moneyers for not
> using as much silver as they should in coins?
>
> Babs"
>
> There was a time when the face value of a coin was the same as the value of
> the metal content. (when Adam was a lad I should think).
> When the value of the metal went up sufficiently - it was worth melting the
> coins down to make a profit.
> There were also the "Clippers" and "Scrapers" who were out for a profit by
> clipping the edges off Silver and Gold coins, or scraping off some of the
> edges.
> In modern times, along came slot machines and the "Copiers" who would
> produce discs to fool Gas and Electric meters and Fairground machines etc.
> Fraud is still the easiest and most lucrative crime to perpetrate.
> Ricky Cooper.
>
>
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