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Re: Coins
Posted By: Howard, on host 216.80.146.239
Date: Monday, September 22, 2003, at 10:51:47
In Reply To: Re: Coins posted by wintermute on Monday, September 22, 2003, at 09:02:47:

> > "Don't be penny wise and pound foolish."
> > > > "Take care of the pennies and the pounds will take care of themselves."
> > >
> The first one survived you abandoning the pound sterling, so I don't imagine that such a trivial thing as losing the coinage they refer to would be a problem.

Hey, don't blame me. Notice the quotation marks.

>
> After all, the values will still exist, and there will have to be some way of expressing those values. Unless the currency becomes so devalued that it's simply not worth having units of currency smaller than a dollar, of course. If,$1 had a buying power roughly equal to 1 cent in today's money, I could see that happening. But that's quite a way off yet.

Maybe not as far off as it seems. I remember when a Coke was a nickle and a hamburger was 25 cents. You could air up your tire for free at any service station. Sugar was 8 cents a pound, and a big load of bread was 15 cents. We bought coal for $6 a ton, delivered, and gas was 20 cents a gallon, tax included. We rented a really nice house in a good neighborhood for $35 a month. All of this was 40's and 50's, but if you go back a decade or two before that, a new Ford or Chevrolet was $300 to $400 Compare that to today's car prices and one cent then was just about equal to one dollar now, unless I have dropped a decimal place somewhere.

The first job I had paid 25 cents an hour. Some people make 100 times that. (But I don't suppose they pay $25 and hour for manual labor like I was doing.)
Howard

> wintermute

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