Preview

Why Do Coins And Paper Money Are Better Than Gold Coins

Satisfactory Essays
Open Document
Open Document
189 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Why Do Coins And Paper Money Are Better Than Gold Coins
Coins and paper money are better than gold coins. Coins are better because coins have all different kinds of value than gold coins. Paper money is better because the paper is light and it is easier to carry around.

The German Empire introduced gold coins in 1873. People used Gold coins because it is easily transportable, and is extremely unreactive therefore it does not tarnish over time. Gold is a soft and heavy metal and is both malleable and ductile.

Gold is very durable because the metal can last thousand of years. Gold is portable because Gold coins are small and you can put stacks of coins in your pocket. Gold coins have a uniform because they needed to know what kind of coin it was. You can divide coins and make different values of

You May Also Find These Documents Helpful

  • Good Essays

    Econ 1740 notes

    • 2231 Words
    • 9 Pages

    Gold (was about 15 times as valuable as silver) would add prestige and serve in higher denominations…

    • 2231 Words
    • 9 Pages
    Good Essays
  • Better Essays

    Gold is a precious metal which has been used for years and when we think of gold we think of shining bars in a bank vault, coins or beautiful jewellery. When we think of gold it’s usually a shining yellow gold however can come in many colours. The colour of gold can range from red through the visible spectrum to purple and violet.…

    • 1155 Words
    • 5 Pages
    Better Essays
  • Good Essays

    When you buy something and then get change, you could end up getting four pennies as changed. Sure that doesn’t sound like a lot right now but if you keep buying stuff, you'll get more and more pennies as change and it will get more and more heavy. All that extra weight isn't worth the amount the penny is worth. According to, “Is the Penny Worth It?,” pennies are “too heavy and are not cost-effective to ship.” In the military, they don't use pennies because they're too heavy, they use a rounding system. With the rounding system, you would either round the change up, or down depending on the price. For example, $9.06 would be rounded to $9.05 and $9.09 will you run into $9.10. It's easy. It works perfectly fine in the military, why don't we use it…

    • 591 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Ever since 1690, when the first paper money was issued by the Massachusetts Bay Colony, paper money has been constantly changing. Throughout the history of the United States paper money, the United States has gone through different types of currency. The different types of currency ranged from State Bank Notes to Gold Certificates to National Bank Notes to Silver Certificates to Federal Reserve Bank Notes, and now ending with Federal Reserve Notes. However, in the mean time counterfeit money had been gaining circulation and “thirty-six percent of the dollar value of known counterfeit currency passed in the U.S. was produced overseas, particularly in Colombia, Italy, Hong Kong, the Philippines and Bangkok” (Fun Facts About Money). In result, over a hundred domestic and eighteen foreign counterfeit operations were terminated in 1990.…

    • 1674 Words
    • 7 Pages
    Better Essays
  • Powerful Essays

    Verizon Communications, (NYSE:VZ), formed by the merger of Bell Atlantic and GTE, is one of the world's leading providers of high-growth communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States, with over 137 million access line equivalents and over 34 million wireless customers. Verizon is also the world's largest provider of print and online directory information. A Fortune 10 company with more than 221,000 employees and $67 billion in 2002 revenues, Verizon's global presence extends to over 30 countries in the Americas, Europe, Asia and the Pacific.…

    • 1483 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    The penny, the smallest coin in the U.S., that honors president Abraham Lincoln, is now essentially worthless. Back not too long ago, it was possible to go the store and get a whole bag of candy for a nickel, or a chocolate bar for a penny. But now that is no longer possible. Nowadays the price of everything is much higher than it used to be, which means that small amounts don’t go as far. As source C explained, there used to be penny-poker, penny candy, and five and dime stores. Now, penny poker would be played with dollar bills, penny candy could cost you a couple hundred pennies, and the five and dime is a “dollar store”. The value of money has dropped leaving everything more expensive. As source C states, “it takes nearly a dime today…

    • 882 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Gold Currency Analysis

    • 1391 Words
    • 6 Pages

    This material is comprised of the chemical Aurum, known to be a dense, soft and ductile metal. This material alone serves little purpose other than the perceived value added by societies around the world. Being one of the materials most commonly used for trade, gold was introduced to the United States during 1793 gold was discovered in North Carolina. This discovery went with little attention for the public with gold still being an unknown material. Gold was later discovered at The Reed Farm in North Carolina 6 years later in 1799. This new discovery created public attention and a new sense of demand for the…

    • 1391 Words
    • 6 Pages
    Good Essays
  • Good Essays

    4-h meeting notes

    • 315 Words
    • 2 Pages

    hard money - Gold and Silver coins, as distinguished from paper money. “They sought ... to substitute hard money for bank notes...”…

    • 315 Words
    • 2 Pages
    Good Essays
  • Good Essays

    As European settlers traveled over to North America, they brought with them the customs of having a standardized currency system. They had been accustomed to currencies such as the Pound Sterling which allowed for easy trading among peoples in a large region. The British Pound consists of coins made up of silver and gold. These coins could be produced identically and have a constant value that is commonly known to whoever would be trading. However, the new settlers were not able to bring the capital to establish such a system as other goods were deemed more important.…

    • 601 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Chapter 1 Essay Apush

    • 814 Words
    • 4 Pages

    Gold was a major factor in bringing the Europeans to the New World. Gold equals money and money equals power, this is the philosophy of most kings to explore the New World. They wanted power and it did not matter how they got that power as long as they got it. In the case of Hernan Cortes, he killed of the Aztec leader, Montezuma, to gain the Aztec’s gold. After the fall of the civilized empires in the New World, the Spanish set up civilized empires which prospered in gold. The Spanish received gold and in turn they also received power. Power motivated most of the countries; Spain, France, England, Portugal, and the Netherlands, to explore and gain the profits. Although gold was not the only reason they explored as much as it was trying to find a new route to India and the Orient. That was the original plan. Once they hit land and discovered it was not India and the Orient, they explored and came across gold and many other riches. Once they were brought back the kings would charter ships and try to gain as much gold, money/power, as they could. After the fall of the Catholic Church and the rise of the monarchies, all of the kings were searching for new ways to show they were more powerful, gold helped with that. Gold was not only a surprising find in the New World, but also a key into the search for power by the kings of the respective countries that explored.…

    • 814 Words
    • 4 Pages
    Good Essays
  • Good Essays

    The penny has strong support for preservation, but there are many reasons it should be eliminated. As of 2007, a nickel is worth what a penny was worth in 1972. There has never been a coin in circulation in the U.S. worth as little as the penny is worth today, although currently other countries have coins with less purchasing power in circulation. The median wage the U.S. being about $17 per hour in 2011, it takes two seconds to earn one cent.…

    • 498 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    The pennies are worthless

    • 370 Words
    • 2 Pages

    the penny is to spend it, however, the penny itself can’t be spent. Pennies cost more…

    • 370 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    California Gold Rush

    • 928 Words
    • 4 Pages

    Determining the purity of gold was in its early stages, so weights were used instead. This meant that the miners would not only be forced to carry around a satchel with all of their findings, but would also have a secondary pouch with a scale and some weights. Some miners would weigh their gold differently than others, creating a problem when attempting to buy items. Mints were then created to solve this problem, charging a small amount in order to refine and stamp the user's gold with the correct weight, making it easier for both the miner and the supplier of goods to determine a price. The early gold merchants had a set price for buying gold per ounce. The usual prices were between $8-$16, depending on the ounce, and would later sell their findings for around $18-$20 to other buyers (Doti, 214). These buyers were more concentrated on the East Coast of the United States, as it was rare to find such precious metals in areas such as…

    • 928 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Ferdinand Magellan was born in Sabrosa, Portugal in 1480. Magellan is a very prolific and successful explorer that was dedicated to his craft. Ferdinand had a passion for exploration from a young age, and was determined to become a great explorer, which he definitely accomplished.…

    • 493 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Kodak Case Summary

    • 366 Words
    • 2 Pages

    After reading and studying this case, students should be able to (1) understand the forces of change that were reshaping the business environment for firms in the photography industry in the twenty-first century; (2) understand the risks involved in developing corporate level strategy when the cash cow business is in a declining market; and (3) Understand the risks involved in competing in a market against newer and more nimble competitors. This case was developed for use in undergraduate and MBA level courses in strategic management. The case is designed to be positioned in the course during discussions of corporate level strategies. The case could also be used to illustrate a rapidly changing industry environment and the pressures the changes cause for traditional firms in the industry. The case may also be appropriate for undergraduate and graduate courses in marketing strategy.…

    • 366 Words
    • 2 Pages
    Satisfactory Essays