Hi Folks, I carry around with me at all times this 1964 quarter should the opportunity to discuss economics arise. We didn't get this in our grade schools, high schools or colleges. People who call themselves financiers, accountants, economists, bankers, most of them don't know this.
Between 1932 and 1964 the Washington quarter was 90% silver. You can find its melt value at coinflation.com. Right now the melt value is $2.60 and the national average gas price is $2.54.
In 1932 a gallon of gas was 18 cents a gallon. So, for 86 years now the silver in this old quarter was good for a gallon of gasoline.
Quarters now are 90% copper with a melt value of less than 4 cents. The twenty five cents the federal reserve prints on it will buy you about a cup of gasoline (gas is 6lbs a gallon, not 8 like water).
So what happened to all that purchasing power? It was stolen from the American people through the scourge of inflation.
The genius of Satoshi was to put a hard cap of 21m on the Bitcoin supply. The guy was a true renaissance man who knew enough about so many different fields to change the world. Without scarcity your money loses its value. And the dollar supply is essentially limitless.
Let's review, the silver in those old quarters was good for a gallon of gas for 86 years. The federal reserve's magical fantasy printing press quarter dollar? That buys you about one tenth of a gallon, the other 90% of your purchasing power has been stolen from you by the dilution of the dollar supply. It is being printed into oblivion by the criminal federal reserve.
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