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 Posted - 01/25/2007 : 11:37:00
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There was another topic about alternative metals for coins, but I didn't see Iridium mentioned. This seems like a cool metal to have in coin or bullion form...
It's the most corrosion-resistant element. It can be the heaviest element, depending on crystal structure (Osmium might be heavier, but it's nasty toxic stuff). It's more rare than gold, but less expensive. Almost all of it on earth has come from meteorites.
On the minus side (for coins), it's extremely hard, brittle, and hard to melt. It might be possible to make a sintered coin out of it though.
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Posted - 01/28/2007 : 11:25:41
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Interesting qwestion.
Ultimately, I think that for a specie to be considered as "money" it has to be recognized as such.
If a metal is too exotic and unfamiliar, it would be a pain to assay or verify.
My feeling is that there should be in circulation only a few metals as coinage so as to confine the confusion within tolerable boundaries.
As of 2007 January 28
A troy ounce of Rhodium is worth $5350.00 in US Dolllars (Federal Reserve Notes).
A troy ounce of Platinum is worth $1179.00
A troy ounce of Gold is worth $644.60
A troy ounce of Palladium is worth $350.00
A troy ounce of Silver is worth $13.26
A troy ounce of Nickel is worth $1.23
A troy ounce of Copper is worth $0.18
(there are troy ounces in one avoirdupois pound)
In my opinion, it would be best if we could
use one metal that is worth approximately $0.01 per ounce,
and another metal that is worth approximately $0.10 per ounce,
and another metal that is worth approximately $1.00 per ounce,
and another metal that is worth approximately $10.00 per ounce,
and another metal that is worth approximately $100.00 per ounce,
and another metal that is worth approximately $1000.00 per ounce,
and another metal that is worth approximately $10000.00 per ounce,
Of course carrying around an ounce of metal for a value of less than $10 is heavy and bulky.
Perhaps coins from silver on down could be smaller, qwarters, and dimes of an ounce?
Perhaps Iridium could be the top metal?
Is it worth more than Rhodium?
Peace
.................................................
A billiard ball dropped from 1,362 feet (height of the South Tower) in a
vacuum would require 9.22 seconds to hit the ground. How then did the
towers collapse in 10 seconds and 11.4 seconds, and why has not one
member of the mainstream media insisted on honest answers from the
government in this regard?
"The individual is handicapped by coming face to face with a conspiracy
so monstrous [that] he cannot believe it exists."
- J. Edgar Hoover |
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78 Posts |
Posted - 01/28/2007 : 23:40:52
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As I said, it's less expensive than gold. It's currently at around $400 per ounce.
It would be tough to counterfeit, since it's more-or-less tied with Osmium as the densist element. Osmium is about the same price, and actually an alloy of the two might have better characteristics for minting into a coin. |
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Posted - 01/29/2007 : 00:06:17
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Flying Moose:
I make my own copper "coins" which I give away.
More accurately, I trade them for the time it takes to lecture strangers on Austrian School Economics.
I even had a thread running here for a while about my efforts.
You must be logged in to see this link.
If you decide to start creating coins out of Osmium and or Iridium, I would be VERY interested to hear what you learn along the way.
.................................................
A billiard ball dropped from 1,362 feet (height of the South Tower) in a
vacuum would require 9.22 seconds to hit the ground. How then did the
towers collapse in 10 seconds and 11.4 seconds, and why has not one
member of the mainstream media insisted on honest answers from the
government in this regard?
"The individual is handicapped by coming face to face with a conspiracy
so monstrous [that] he cannot believe it exists."
- J. Edgar Hoover |
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DadaOrwell
Penny Sorter Member
99 Posts |
Posted - 02/09/2007 : 01:42:26
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The alternative bullion coin idea is awesome...I wish someone would do it. The person I know of most likely to is the guy who runs this site:
elementsales.com
He already makes penny sized coins for a couple dozen types of metal. However they are not bullion priced, they probably each on average cost you twice their metal value to buy. He apparently has not made an irridium coin. It would be great if he made a one ounce Indium coin or something and made it available in masse at a 10 or 15 percent premium over spot.
If he hasn't made an irridium coin yet maybe that means he has concerns about the characteristics of the metal.
I disagree with the poster who said we need a narrow band of bullion coin types...I wish we had 15 types of metal used as bullion coins.
I was thrilled to hear about pennies and nickels essensially becoming a base metal bullion due to their metal content becoming more valuable than their face value. It gives all of us a way to diversify without losing liquidity or buying a house or using the stock market.
I've been lurking here for a month or so and have been taking action just like you guys when it comes to grabbing up the pennies and nickels. You've really helped me a lot!
I've posted a link to your forum on the NHfree.com forums where all the wild eyed libertarians coming to new hampshire congregate.
Oh also I talked to a Nashua, NH coin dealer who told me he does occasionally sell pre 1982 bags, he sold a $50 face value bag for $75 when copper was higher. That leads me to believe the premium you might get is roughly midway between the face value and the melt value.
Want freedom?
Move to New Hampshire!
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Iridium coins?
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