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Archive for January 7, 2008

Back to a metal backed currency? This time it’s nickel.

From the Doug W on the EVDL:

According to the US Mint, it’s now a criminal offense to melt down nickels.

“Nickels” (the US five-cent coins) are only 25% nickel.  They’re also 75% copper.  According to coinflation.com and usmint.gov a nickel contains more than 6 cents worth of metal (2.5 cents copper & 3.5 cents nickel).

Hmmm….we’re starting to see jumps in value for raw materials like metals, water, and oil.

So, if crude oil keeps going up and then the raw materials of my bank cards may be worth more than my credit limit!

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