February 18, 2005/2015 day to celebrate?
Posted: Mon Nov 17, 2014 11:37 am
Looking through Coinflation's Archives I found two articles of interest.
February 18, 2005 the copper closed the day with the cent being higher than face value.
http://www.coinflation.com/greshams_law.html
"For example, copper settled at $1.5126/lb on Friday, February 18. Using the calculations below, the pre-1982 cent that weighs 3.11 grams and a metal composition of 95.0% copper/5.0% zinc has a metal value of $0.01006437 (roughly 100.64% its denomination value)."
October 8, 2004 copper touched being higher than face value of the cent.
http://www.coinflation.com/10092004.html
"Mark today's date on your calendar. The base metal value of the pre-1982 copper cent has surpassed its purchasing power. Copper closed at 1.4875/lb making the 3.11 gram copper cent worth $0.01003."
Ten years worth of inflation and see what we have become. Any ideas on how we should celebrate, commemorate, commiserate?
February 18, 2005 the copper closed the day with the cent being higher than face value.
http://www.coinflation.com/greshams_law.html
"For example, copper settled at $1.5126/lb on Friday, February 18. Using the calculations below, the pre-1982 cent that weighs 3.11 grams and a metal composition of 95.0% copper/5.0% zinc has a metal value of $0.01006437 (roughly 100.64% its denomination value)."
October 8, 2004 copper touched being higher than face value of the cent.
http://www.coinflation.com/10092004.html
"Mark today's date on your calendar. The base metal value of the pre-1982 copper cent has surpassed its purchasing power. Copper closed at 1.4875/lb making the 3.11 gram copper cent worth $0.01003."
Ten years worth of inflation and see what we have become. Any ideas on how we should celebrate, commemorate, commiserate?