Encyclopedia > Talk:Coin

Article Content

Talk:Coin

Is it true that coins are generally back by a country's reserves? That is are most countries still on a gold or silver standard? --rmhermen

I removed:

Usually, the value of such coins is guaranteed by being backed by that government's reserves.

I would be very surprized if this were true. As far as I know, nearly all coins in the world today are unbacked (or minimally-backed) fiat currencies like the US dollar. --LDC

The US dollar isn't really "unbacked", but what is is backed by is left as an exercise for the reader. -º¡º

To paraquote Illuminati Trilogy - By the cast iron promise of the government, that, by God they'll raise taxes enough to pay it back... Martin

LOL - but not quite. The US government neither backs nor creates the US dollar. Who does? -º¡º

What is being measured by the graph in this article? Could the person who added it provide a title or explanation? -- llywrch 02:05 Apr 20, 2003 (UTC)

cumulative inflation, I believe.

price levels (same thing as cumulative inflation more or less) - the graph now has an caption. -º¡º

All Wikipedia text is available under the terms of the GNU Free Documentation License

Search Encyclopedia

Search over one million articles, find something about almost anything!