The saying goes that silver is the poor man’s gold. This means that gold is more valuable than silver, and if you can’t afford gold, then you should buy silver. Investing in gold or silver is a good idea. Both have been accepted currencies all over the world since the idea of money was invented.
The idea of money started when people didn’t have anything of value to trade. You wanted a cow, but you didn’t own anything the owner of the cow would accept in trade. So, you would offer him gold or silver. With gold or silver, he could trade for anything he wanted. But, if you gave him a stack of hay, he might not be able to trade that stack of hay for the things he needed.
The value of the gold and silver was determined by the weight. And since it was very hard to get, criminals would melt it down and coat regular steel with gold and silver, and try to pass it off as the real thing. This is why you see most old coins with cut marks. Vendors began to realize that much of the coins were only coated in ira gold, and not real gold, so they would cut the coin to see what was inside.
We don’t have to cut our coins these days to see what is inside because the criminals tell us straight out that coins don’t contain as much gold or silver as they used to. The nickle got its name because it was made from nickle. The size of the coin depicted the amount of nickle needed to be worth five cents of a dollar. Dimes, quarters, fifty cent pieces and silver dollars were all made of silver. The amount of silver in these coins became less and less over the years. Today, the amount of silver you find in circulating coins is practically zero.
Special mint sets are still made with real silver and real gold. That is why they cost so much. It wasn’t financially feasible to continue making a quarter out of pure silver when the price of silver was so high. One quarter of a dollar’s worth of silver would produce a coin so small, you would barely see it.