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what makes a coin, a coin?
Nooker
Posts: 634
The thread on the 1 tonne Australian gold "coin" has made me think about what defines a coin to be a coin?
I'm sure this has been talked about here in the past, but I couldn't find anything when I searched.
Doesn't a coin have to start as a planchet, then be struck by dies?
In the case of the 1 tonne Australian piece, liquid gold is poured into a cast, then finished to take the shape of a coin. To me, this makes it a gold ingot, not a coin.
Mark
I'm sure this has been talked about here in the past, but I couldn't find anything when I searched.
Doesn't a coin have to start as a planchet, then be struck by dies?
In the case of the 1 tonne Australian piece, liquid gold is poured into a cast, then finished to take the shape of a coin. To me, this makes it a gold ingot, not a coin.
Mark
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<< <i>The thread on the 1 tonne Australian gold "coin" has made me think about what defines a coin to be a coin?
I'm sure this has been talked about here in the past, but I couldn't find anything when I searched.
Doesn't a coin have to start as a planchet, then be struck by dies?
In the case of the 1 tonne Australian piece, liquid gold is poured into a cast, then finished to take the shape of a coin. To me, this makes it a gold ingot, not a coin.
Mark >>
The Romans and the Chinese both made coins that were cast so striking a planchet with dies is not a prerequisite to be a coin.
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"Paper money eventually returns to its intrinsic value---zero."----Voltaire
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What defines a "modern" coin?
(ooohhh, that will start things going, won't it? sorry, I couldn't resist!)
<< <i>I would imagine a "coin" has to be monetized from an accepted, authorizing government. >>
OK TomB's right... What does he win
so under this premise, if a gov't decided to monetize an ingot, or a piece of wood for that matter, then it could be called a coin?
Don't ask me my opinion ever again.
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I enjoy the question, though, especially as it relates to the dawn of coinage. It wasn't too long ago in terms of history or civilization that we didn't have coins. Stop and think about that for awhile.
My icon is a small coin called a trite made of the naturally-found alloy of gold and silver (electrum). It dates from about 600 BCE, and is considered by some to be the first real coin--issued by a government with an understood value, with known fractions, and a royal seal for lack of a better word that attested to its "officialness". There were other earlier lumps of electrum that weighed approximately what this one did, and they were probably traded in the same way this one was. But to me, since they weren't marked how a "coin" is marked, I wouldn't call them coins.
--Severian the Lame
"A piece of metal (or, rarely, of some other material) certified by a mark or marks upon it to be of a definite exchange value and issued by governmental authority to be used as money."
So I stand corrected then, the Australian 1 tonne piece is a coin.
Mark
<< <i>if a gov't decided to monetize an ingot, or a piece of wood for that matter, then it could be called a coin? >>
Ever hear of a wooden nickel?
<< <i>Don't ask me my opinion ever again. >>
So I stand corrected then, the Australian 1 tonne piece is a coin.
then what makes money, "money"?
that big coin (and an ASE) is "money" only in the most technical sense.
"Novelty NCLT bullion for collector/investor market" would be the subcategory of "coin" these fit into.
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