In the future state when the dollar’s value has completely plummeted (this is hypothetically speaking of course since that will NEVER happen…) what will happen to the value of coins? This is of course that the value of the American dollar can’t be enforced, and all faith in it is gone. Yet, the coins must have some actual objective value that’s higher than the paper dollar. Would it in the best case to have a hoard of coins? I’m asking this because I have $80 wrapped in quarters, $15 in dimes, and a bunch of coins I still haven’t wrapped yet. I’m sort of reluctant to turn this into the bank if in the future I know the value of the coin could surpass that of the paper dollar.
Nothing has objective value. Regardless, those coins are not made of precious metals, and so hold no value outside of that which is guaranteed by the State. For example, modern pennies are mostly made out of Zinc and currently the price of Zinc is around $1 per pound, as far as I know. Those coins are fiat currency, just like paper dollars.
I knew I was going to get something for that. I didn’t know how to word what I meant. That the value of the coins themselves (being a metal) is higher than the paper dollar, but seeing that they are not precious metal I guess there’s probably no reason for me holding on to them.
Invest that $95+ in some Mises (or other AOCS-approved) silver coins!