|
horgad
1000+ Penny Miser Member
USA
1641 Posts |
 Posted - 09/24/2008 : 07:58:55
|
I don't think copper will ever be a precious metal. The cost to extract it from the earth will always be much lower than the rare metals. Even if copper got to $100 an ounce, it wouldn't mean that it was precious. It would just mean that we have some major inflation.
However, on the positive side, copper like gold and silver has a long, long history as a monetary metal. If you think about it, it is obvious why. Even as small a coin as a silver dime is worth about a whole loaf of bread and that is just to big a denomination to have as your smallest purchasing unit. So in a hard money system smaller denominations made from copper will always be needed... |
 |
|
Copper Becomes PM
Forum Locked
