From LewRockwell.com:
I've often mused about how fun it would be to have a time machine and travel back to the early 1960s and go on a pre-inflation shopping spree. In that era, most used cars were less than $800, and a new-in-the box Colt .45 Automatic sold for $60. In particular, it would be great to go back and get a huge pile of rolls of then-circulating U.S. silver dimes, quarters, and half dollars at face value. (With silver presently around $30 per ounce, the U.S. 90% silver (1964 and earlier) coinage is selling wholesale at 22 times face value – that is $22,000 for a $1,000 face value bag.)
The disappearance of 90% silver coins from circulation in the U.S. in the mid-1960s beautifully illustrated Gresham's Law: "Bad Money Drives Out Good." People quickly realized that the debased copper sandwich coins were bogus, so anyone with half a brain saved every pre-1965 (90% silver) coin that they could find. (This resulted in a coin shortage from 1965 to 1967, while the mint frantically played catch up, producing millions of cupronickel "clad" coins. This production was so hurried that they even skipped putting mint marks on coins from 1965 to 1967.)
Alas, there are no time machines. But what if I were to tell you that there is a similar, albeit smaller-scale opportunity? Consider the lowly U.S. five-cent piece – the "nickel"...
Read full article...
More on inflation:
Richard Russell: "PLEASE MOVE INTO GOLD"
Shocking chart shows inflation is now soaring above 11%
Jim Rogers: More federal reserve money-printing is about to begin
