Just a generic geek, with a tendency for taking things apart


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Saturday, November 12, 2005
Obsure Economic Metrics
 
FARK has noted that copper is an obscure economic metric. The article they link to notes that it is more accurate economic measure than gold. Which reminded me of a post I wrote in May where I did the math on how much the pennies in your pocket are really worth. Newer coins are pretty much worthless as anything other than currency (materials are worth .4 cents), but older pennies were getting close to being worth as much as their raw materials.

After reading the article and looking back on the post, I looked up the current copper prices. Right now, all those pre '82 pennies are worth about 1.1 cents on the metals market. Too bad that after processing the metal it wouldn't be worth enough to make it profitable, at least, not yet...

Fun wikipedia articles for this post:
Gold Standard
Debasement



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