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18 sats \ 1 reply \ @Undisciplined 8h \ parent \ on: Which is Worse: Taxes or Fiat Money? econ
Coining money wouldn't be fiat if the denominations matched the value of materials used.
Pennies and nickels are worth more than their face values, but dimes and quarters much less. Dimes and quarters are fiat because their value comes from government decree.
Sure. But again, you are describing fiat and mixing that with the coinage. It would be fiat if the coins were traded for arbitrary set amounts. Unless they were treated like paper notes. IE, backed by a physical asset. After all, even paper has a value. Its just very small.
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