What is a CENT ? It is a french word that in english means HUNDRED.
ONE CENT I was taught was one HUNDREDTH, and ONE HUNDRED CENTS
EQUAL A DOLLAR. BUT IS THIS TRUE? The CENT I knew growing up was defined as such.
Alloy: 98% copper, 0.5% tin and 1.5% zinc | Weight: 2.5 grams
Diameter : 19.1 mm (12 sides) Thickness: 1.45mm
https://www.coinsandcanada.com/coins-prices.php?coin=1-cent-1986&years=
That is not what we have today. In 97-99 they started
using 98.4% zinc, 1.6% copper plating. Then in 2000 they
released the 94% steel, 1.5% nickel, 4.5% copper plating Penny.
Upon further reading, this is what the United States also uses.
Production of the penny ceased in May 2012, and the Royal Canadian Mint ceased distribution of them as of February 4, 2013.
21/02/21 0.00000013 BTC = $0.01 CAD
If our old dimes had 2.5g of 98% copper, our Penny should be worth 0.022287 USD at todays copper price of 4.0436/pound. In Canadian that is $0.028112 which might not seem like much but seems to me to be the equivalent of $100 being worth $281.
http://www.kitcometals.com/charts/copper_historical_large.html
And thats not all.
Our dimes used to have Silver in them as well.
From 1920 - 1967 their composition
was 2.33g 80% silver, 20% copper.
From 2000 to today their composition is
just 1.75g of 92% steel, 5.5% copper, 2.5% nickel.
A pre-1967 dime has 80% silver so 1.864g worth $1.6331 USD or $2.0598 CAD.
Yes, a pre-67 Canadian dime is worth $2. That is like $100 being worth $2,059.80 !
https://www.kitco.com/charts/livesilver.html
The value of Copper and Silver rising
yet our money is not money anymore. It is mostly steel.
Steel is only worth $1.79/kg, making our currency a joke.
Bitcoin might be the one last chance we have
for our generation to have a true store of value.
