Why is a nickel worth less than a dime?

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Avatar of PJ
PJ (@pj88)    2 years, 6 months ago

A nickel and dime are both made of silver and a nickel has more silver to it than a dime. So why the hell is a dime worth more??

0 votes, posted 01.12.2012 at 1:05 am
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Avatar of vicki
vicki (@ickyvicki)2 years, 6 months ago ago

well why exactly does our paper have any value? The value is just based on the number printed on it. People mock monopoly money and yet that is basically what we trade everyday, except its not exactly paper its linen and cotton…..

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Avatar of Dan
Dan (@danryan)2 years, 6 months ago ago

Here in Britain we have written on our notes:

Bank of England: I promise to pay the bearer on demand the sum of X pounds. Back in the day, you used to be able to claim your gold’s worth.

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ELI var namnet (@manimal)2 years, 6 months ago ago

Money is fake. US money is the most fake of all.

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Avatar of Duncan Idaho
Duncan Idaho (@didaho)2 years, 6 months ago ago

@Manimal, i’d be happy to take all your fake money from you :)

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Avatar of Jay
Jay (@jaygran7)2 years, 6 months ago ago

use your google-fu!

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Avatar of Jay
Jay (@jaygran7)2 years, 6 months ago ago

Via *Answers.Yahoo.com*:
“Back in the old days (medieval times) a coin was worth exactly what it was worth: the weight and material had a specific worth/value. So a nickel, even though bigger in size, would be worth less than a dime, based on the material it’s made out of and it’s weight. An exaggerated (but accurate) example: iron coins would have been worth less than bronze coins. Bronze coins in turn less than silver. Silver less than gold.

Nowadays, we don’t use that system any longer, but the influence from when money was.. well… money is still seen in the way the coins are pressed.”

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Avatar of Duncan Idaho
Duncan Idaho (@didaho)2 years, 6 months ago ago

Here is an interesting fact… in Australia there was a time when the silver in a 50cent coin was worth more than 50cents. People used to melt the coin and extract the silver to sell for more than 50cents :)

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Avatar of General Tits Von Chodehoffen

Are you trolling or just dumb?

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Anonymous (@)2 years, 6 months ago ago

@ PJ: Neither are made with (predominantly) silver anymore.

Money isn’t fake…well, counterfit money is fake, legal tender is not.

“Money” as we know it is a fiat currency a.k.a it has no value itself, but represents the promise of value. Back in the old old days, a “bank note” (what we now call dollar bills) was literally a promise that the bank wrote to a customer telling them that exchanging the note would give them a certain weight in gold. The customer could then pass that note on to someone else, who in turn could trade with it or go take the gold.

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