The president's plan to save money by making coins from cheaper stuff seems simple on its face. But history shows it would rekindle an emotional debate among Americans who fear changing the composition of their currency will hurt its value.
Changing the composition of their currency will hurt its value? What about the endless bailouts and use of the printing press to reconstruct the Great Society - Part II?
"People believe that we are still on some sort of precious-metal standard," says Rod Gillis, educator at the American Numismatic Association.
To that, I say wake up people. The precious-metal standard is long gone, and the composition of your coins, while an important devaluation gauge, is the least of your worries.
Source: online.wsj.com
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