Know Common Cents wrote:What? The paper currency $1 and $2 notes gave you a feel of greater comfort? The US seems to be several steps behind Canada, but still following the same path.
Yes, actually. They may theoretically have an even lower intrinsic value than steel, but for all intents and purposes, they're both zero. But paper just feels like money to me. A hundred dollar bill? That feels like money in my hand when I hold it. And historically, the United States (and other countries, I assume) did have paper money even back when we still had real money. A $20 bill used to be about an ounce of gold. A $10,000 bill was 500 ounces! So sometimes paper money can be real money.
Iron money, on the other hand, is invariably a sign of a weak currency. I don't think I've ever heard of an iron coin being used regularly under a gold standard.