US DOLLAR COIN

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A Penny for Your Thoughts

The coin has been in circulation even before The composition of a coin differs in every nation and economic status . Once , coins were minted using gold and iron . In the United States , a coin is composed of gold silver and copper as the law states in 1792 . The dollar , half-dollar quarter , dime and half-dime were composed of silver . Cents and half-cents were made of copper

Gold and silver coin production were discontinued in 1933 during the Great Depression . Today

the coins are now composed of copper and nickel with a pure copper core and an outer layer of copper (75 ) and nickel alloy (25 (www .usmint .gov

The production of coins , or money per se , maybe the result of the inefficiency of other forms of exchange during the earlier times . Many items proved to be the form of early money , among which are shells precious metals , crops , etc . For one , barter trade had encountered so many problems during exchange , like seasonality of crops or goods that would be bartered , the effects of the law of supply and demand for a certain produce , and the means of transportation of the exchange . The need to let out creativity , efficiency , and the capacity of the human mind to hold and attach value to a thing may have been one of the reasons why men invented money (Menger ,1892

Even before money came into circulation , precious metals are already minted to fashion coinage , bearing...