Credit deflation and the reflation cycle to come (part 8)

[THE SOUP DRAGON]

7 minutes ago, Heart's Ease said:

Happy memories reading the comments on zerohedge all those years ago where canny US stackers collected pails of silver coins from going through rolls and rolls of coins from the banks and finding the good ones.

Same folks were making their own ammo from scrap lead from car wheel balancing weights.

Be interesting to see what gets turned up out of the cupboards when copper runs. 

How would the copper value be realised because as I understand it,  it’s illegal to melt down UK coinage in the UK? 

[Loki]

Just now, THE SOUP DRAGON said:

How would the copper value be realised because as I understand it,  it’s illegal to melt down UK coinage in the UK? 

You would simply ▓▓▓▓▓ the coins into ▓▓▓▓▓▓▓▓ and then ▓▓▓▓▓▓▓▓▓▓▓▓

[Axeman123]

Just now, THE SOUP DRAGON said:

How would the copper value be realised because as I understand it,  it’s illegal to melt down UK coinage in the UK? 

Once it is melted...what coins?

[M S E Refugee]

21 minutes ago, Bobthebuilder said:

, I didn't expect the Spanish inquisition.

 

 

[Castlevania]

3 minutes ago, Bobthebuilder said:

My take away from today on this thread is that I reckon a lot of posters are in flexible cash ISAs and have hardly any skin in the game.

Most talk a different language from me, and fair enough, I am not going to criticise anyone.

Mate. Calm down. You’ve got a genuine problem that you need to sort out, and sort it out you will. There’s several chumps (myself included) who are a little bored over Easter and just pulling your leg.  

[Shamone]

22 minutes ago, Bobthebuilder said:

All this came from one post about ISA transfers, I didn't expect the Spanish inquisition.

 

[Harley]

40 minutes ago, wherebee said:

My ex wife worked for them for a while, years back.  She had exactly the same attitude to me...

.

Edited March 31 by Harley

[Castlevania]

3 minutes ago, THE SOUP DRAGON said:

How would the copper value be realised because as I understand it,  it’s illegal to melt down UK coinage in the UK? 

Oh no! The illegal police!

[Bobthebuilder]

3 minutes ago, Castlevania said:

Mate. Calm down. You’ve got a genuine problem that you need to sort out, and sort it out you will. There’s several chumps (myself included) who are a little bored over Easter and just pulling your leg.  

Its a good time of year to clean out the shit and prepare for the new.

[sleepwello'nights]

28 minutes ago, leonardratso said:

arent yolks yellow?

 

Eggsactly

[roundhouse]

3 hours ago, M S E Refugee said:

Just been on the Silver Forum and people were talking about investing in copper.

Apart from stealing copper cable you can collect up copper from your loose change.

Pre 1992 1 and 2p's are 97% copper.

I worked out that £1 in copper is worth £2.37 and a pre-decimal £1=240 pennies would have £15.52 of copper in it.

When it goes Mad Max keep your Silver and Gold and use pre 1992 pennies and two pences.

My mother encouraged me to collect (her) 1d coins before decimalisation came in. Stick them down in a scrapbook, try to get one for each year. Still got them somewhere... quite a few pre Elizabeth II from memory and 1-2 Queen Victoria. 
 

[Bobthebuilder]

4 minutes ago, sleepwello'nights said:

Eggsactly

 

[M S E Refugee]

10 minutes ago, THE SOUP DRAGON said:

How would the copper value be realised because as I understand it,  it’s illegal to melt down UK coinage in the UK? 

Only if they're in circulation, I would imagine that as inflation continues there will be no use for 1 and 2 pences.

[Harley]

6 minutes ago, roundhouse said:

My mother encouraged me to collect (her) 1d coins before decimalisation came in. Stick them down in a scrapbook, try to get one for each year. Still got them somewhere... quite a few pre Elizabeth II from memory and 1-2 Queen Victoria. 
 

I found a Queen Anne or summing when redoing a floor to an 1700ish property.  First time anyone had been back there.  Spent ages researching and cleaning it but its was in shite condition and worthless.  Still, fascinating stuff.

Edited March 31 by Harley

[Loki]

1 minute ago, M S E Refugee said:

Only if they're in circulation, I would imagine that as inflation continues there will be no use for 1 and 2 pences.

As change for your 5.99 loaf of bread

[montecristo]

 

[Castlevania]

3 minutes ago, M S E Refugee said:

Only if they're in circulation, I would imagine that as inflation continues there will be no use for 1 and 2 pences.

Unless you have hyperinflation but don’t want to pay to mint new coins. There’s a few countries that reset the currency but kept the value of the coins.

Edited March 31 by Castlevania

[M S E Refugee]

Just now, Loki said:

As change for your 5.99 loaf of bread

They'll just round everything up.

When I'm collecting mail I often see coins on the floor outside a shop,kids can't be arsed to put them in their pocket and just chuck them on the ground.

[Loki]

Numbers went up

[M S E Refugee]

3 minutes ago, Castlevania said:

Unless you have hyperinflation but don’t want to pay to mint new coins. There’s a few countries that reset the currency but kept the value of the coins.

I would imagine Gresham's Law would come into play,the copper coins would be hoarded and the copper-plated steel ones would be spent.

[Castlevania]

9 minutes ago, Harley said:

I found a Queen Anne or summing when redoing a floor to an 1700ish property.  First time anyone had been back there.  Spent ages researching and cleaning it but its was in shite condition and worthless.  Still, fascinating stuff.

I found this coin whilst doing some volunteering work digging up a field in East London some 15 or so years ago. Minted in 1813. I have no idea what it was worth or made of.

 

Edited March 31 by Castlevania

[Castlevania]

3 minutes ago, M S E Refugee said:

I would imagine Gresham's Law would come into play,the copper coins would be hoarded and the copper-plated steel ones would be spent.

I think the rule is. Keep your coins, especially if they’re made of real metal.

[Lightscribe]

9 minutes ago, Castlevania said:

I found this coin whilst doing some volunteering work digging up a field in East London some 15 or so years ago. Minted in 1813. I have no idea what it was worth or made of.

 

You sure that’s not 1853? Looks to me like a young head Victoria silver half crown.

 

At the moment worth about £20 if cleaned up. May as well keep hold of it for the PM bull run. 

Edited March 31 by Lightscribe

[Mandalorian]

33 minutes ago, wherebee said:

stick with it, the conversation will pay dividends...

But they will count against you in the end.

1 hour ago, Bobthebuilder said:

Good for you, its Easter bank holiday Sunday, so tell us a egg joke you boring cunt.

I have no sense of humour.  I am a very serious person.

[Castlevania]

8 minutes ago, Lightscribe said:

You sure that’s not 1853? Looks to me like a young head Victoria silver half crown.

 

At the moment worth about £20 if cleaned up. May as well keep hold of it for the PM bull run. 

Double checked and it is 1853. What’s it made of? If I melt it down am I rich?