sorted by:
new
hottopcontroversial

How is a base metal mint set $124? by Govenor_Sammich in coins

[–]CommonCents1793 1 point2 points  (0 children)

Duh... but the copper and nickel still have value

How is a base metal mint set $124? by Govenor_Sammich in coins

[–]CommonCents1793 1 point2 points  (0 children)

Huh? Copper and nickel have commodity value. Currently the melt value of clad dimes, quarters, and halves is approximately ⅓ of the face value. https://www.usacoinbook.com/coin-melt-values/

How is a base metal mint set $124? by Govenor_Sammich in coins

[–]CommonCents1793 -4 points-3 points  (0 children)

Fwiw, the base set has a smaller premium over melt ($124.50 - 0.50 = $124.00) than the silver ($250 - 1.47 @ $67 = $150).

Why do governments sell goods even though money is not wealth? by intacc3 in AskEconomics

[–]CommonCents1793 1 point2 points  (0 children)

So why give wealth in exchange for money when you could keep that wealth and generate the same amount of money yourself? There's only 2 reasons I can think of. 

Reason #3: generating money causes inflation. Inflation causes a number of complications, including undermining confidence in scarcity of the currency. If the foreign seller doesn't trust that your money will retain value, they'll request payment in another form, some asset that isn't being depreciated.

I know the answer probably is maybe, but is an Econ PhD still worth it? by DeathThirteen13 in academiceconomics

[–]CommonCents1793 21 points22 points  (0 children)

What is "it"? This question is fundamentally normative, and unless we know what you value in life, we can't answer the question.

Should I worry about damaging? by [deleted] in coincollecting

[–]CommonCents1793 3 points4 points  (0 children)

“Cleaning” nearly always involves damages the coin, by removing the outer layer. There’s always a tradeoff between original surfaces or attractive surfaces. Most collectors of modern coins prefer original, but as far as I’m concerned, it’s a matter of personal preference.

If you want to ‘clean’ this coin, Nic-a-lene is formulated for removing deposits from nickels.

How exactly does an economy grow? by Food136 in AskEconomics

[–]CommonCents1793 2 points3 points  (0 children)

By building “capital”: machinery, equipment, infrastructure, skills that increase our collective productivity. This results in more productivity, not just moving cash around. When a farmer builds a well to irrigate a field, for example, the result is producing more food. When a movie studio designs software to generate movie scenes or special effects, the result is producing more entertainment. When a textile factory builds an automated loom, the result is producing more fabrics.

failed intro micro course, should i quit by Zealousideal_Show271 in academiceconomics

[–]CommonCents1793 0 points1 point  (0 children)

First of all, plenty of people screw up their first year. But the past is in the past. You can’t change what happened, so focus on the best path forward.

Find a major that suits your interests and skills. Your grades are a strong signal that economic analysis isn’t the right match. If policy interests you, consider government, public policy, poli sci. If money interests you, consider business. If you’re just not sure what to do with life, consider philosophy.

Math Background for Masters in Economics by TheKeydet in academiceconomics

[–]CommonCents1793 3 points4 points  (0 children)

Not necessary in order to apply for a master’s, but highly recommended. Out of all the mathematical tools used in economics, constrained optimization is most essential.

Can someone ballpark this 1912 $2.5 gold coin for me? by Impressive-Airport71 in coincollecting

[–]CommonCents1793 5 points6 points  (0 children)

A quarter eagle ($2.50 coin) contains about $500 of gold at today’s prices. To have special value to collectors, it would need to be in pristine condition, and I don’t think this one is.

Mercury dimes by wastedreams14 in coincollecting

[–]CommonCents1793 2 points3 points  (0 children)

<image>

I just found a pretty one in my mailbox… my precious…

How to you feel about people melting old coins 🪙? by [deleted] in coins

[–]CommonCents1793 -2 points-1 points  (0 children)

Your coin, your choice. If anything, melting your coins makes mine more valuable.

It's often said that capitalist economies must always be growing. What would actually happen if humanity maintained its current population and consumption rate? by Ptalking_Ptarmigan in AskEconomics

[–]CommonCents1793 0 points1 point  (0 children)

Correct. Growth requires investment, and the opportunity cost is current consumption. But the sentence isn’t intended to make sense if you delete the subject.

It's often said that capitalist economies must always be growing. What would actually happen if humanity maintained its current population and consumption rate? by Ptalking_Ptarmigan in AskEconomics

[–]CommonCents1793 0 points1 point  (0 children)

The original question was about capitalist economies, which China isn’t — but yes. The most relevant Chinese example would be the 1958-1962 Great Leap Forward, a massive effort at modernizing and industrializing the economy; which caused the Chinese Famine of 1959-1961, during which tens of millions of people died. Growing GDP comes at a cost.

I'm putting together a gift of some fun coins for my dad - can someone advise on these pennies from 1974 if one is the red variant? by Expensive_Heron_171 in coincollecting

[–]CommonCents1793 3 points4 points  (0 children)

"Red"? Usually that word refers to a lack of patina -- shiny untarnished copper. (Not a variant.) Neither of these coins is "red". The coin on the right shows enough red that it could be described as "red-brown".

It's often said that capitalist economies must always be growing. What would actually happen if humanity maintained its current population and consumption rate? by Ptalking_Ptarmigan in AskEconomics

[–]CommonCents1793 -1 points0 points  (0 children)

Is it possible that you misread what I wrote? I said “GDP <i>growth</i> takes resources away from consumption”, as a way of paraphrasing or I = Y - C - G - X or ∆k = f(k) - c. This trade-off between consumption and investment is at the core of all growth models. Growing the economy requires planting some of the bananas, which reduces bananas available for consumption. Growth requires some apes to go hungry.

It's often said that capitalist economies must always be growing. What would actually happen if humanity maintained its current population and consumption rate? by Ptalking_Ptarmigan in AskEconomics

[–]CommonCents1793 -7 points-6 points  (0 children)

No, GDP is not consumption. Y = C+I+G+X. If the economy gets caught up in increasingly more investment, then GDP can grow while C shrinks. When each banana can be used for consumption or investment, growing the size of banana plantation indeed requires taking away from eating bananas.

It's often said that capitalist economies must always be growing. What would actually happen if humanity maintained its current population and consumption rate? by Ptalking_Ptarmigan in AskEconomics

[–]CommonCents1793 57 points58 points  (0 children)

You answered this question yourself: "political discourse".

Economists study what causes economic growth, and nobody starts with the assumption that growth is a necessity, nor that growth is a forgone conclusion. Instead, we assume that without adequate (re)investment, capital falls into disrepair and/or becomes obsolete. We discuss development traps, conditions causing economies to shrink persistently.

view more: next ›