Currently the dollar index (against international currencies) is 77.24. One year ago it was about 76 or a little over. 52 week high about 87 in June. Now about 11-12% below high, but above 1 year ago.
I don’t know about the last year, but I know the dollar is down over 20% compared to the yen. It’s now around 80 yen to a dollar and it was around 100-110 before (as high as 122 at one time a few years ago).
Heck, it costs more than a penny to mint a penny! OTOH, printing paper money has always been cheaper than stamping coins… And easier. Which is why paper money is so much easier to counterfeit than specie…
Once upon a time, the U.S. was on the gold (and sometimes silver) standard. That meant at one point you could go into a bank, turn in a paper dollar and get an equivalent amount in gold (or silver). In the Great Depression, the government made it illegal to own gold (outside some exceptions such as jewelry) to force people to use the printed currency, and while it’s once again legal to own gold, the American currency is worth what government says it is.
And ever since the dollar has been worth a politician’s promise.
A Troy ounce weighs an ounce. 31.103 grams. An Avoirdupois ounce 28.35 grams. More mass in the Troy ounce, but more mass in the Avoirdupois pouns, 16 Oz as opposed to 12 oz troy.
JP Steve Premium Member almost 14 years ago
That can happen when you trade on the ballion market!
Yukoner almost 14 years ago
Illegal wars, stupid bailouts, and you wonder why the dollar is almost not worth the paper it’s printed on.
Olddog1 almost 14 years ago
Currently the dollar index (against international currencies) is 77.24. One year ago it was about 76 or a little over. 52 week high about 87 in June. Now about 11-12% below high, but above 1 year ago.
http://noir.bloomberg.com/apps/quote?ticker=DXY:IND
Kvasir42 Premium Member almost 14 years ago
I don’t know about the last year, but I know the dollar is down over 20% compared to the yen. It’s now around 80 yen to a dollar and it was around 100-110 before (as high as 122 at one time a few years ago).
phillipmorris almost 14 years ago
What’s the old bit??? Only the government can take a valuable commodity like paper and make it worth less by printing on it.
wicky almost 14 years ago
A deo datum, a civitat absconditum (the lord giveth, the state taketh away)
pschearer Premium Member almost 14 years ago
The best way to strengthen the dollar would be to remove from the government the power to strengthen the dollar.
RadioTom almost 14 years ago
Cash bounces = not good
Heck, it costs more than a penny to mint a penny! OTOH, printing paper money has always been cheaper than stamping coins… And easier. Which is why paper money is so much easier to counterfeit than specie…
hossblacksilver almost 14 years ago
Once upon a time, the U.S. was on the gold (and sometimes silver) standard. That meant at one point you could go into a bank, turn in a paper dollar and get an equivalent amount in gold (or silver). In the Great Depression, the government made it illegal to own gold (outside some exceptions such as jewelry) to force people to use the printed currency, and while it’s once again legal to own gold, the American currency is worth what government says it is.
And ever since the dollar has been worth a politician’s promise.
steelerman66 almost 14 years ago
hey shytimes2 why is it the Kruegerrands are the standard??????
which weighs more 1 ounce or 1 Troy ounce
The Troy ounce weighs 1 1/4 ounces
Olddog1 almost 14 years ago
A Troy ounce weighs an ounce. 31.103 grams. An Avoirdupois ounce 28.35 grams. More mass in the Troy ounce, but more mass in the Avoirdupois pouns, 16 Oz as opposed to 12 oz troy.