Two Roosevelt dimes contain 0.14468 oz of silver. If gas costs $4 in FRNs, then the implicit price of silver that makes $4 equivalent to 0.14468 oz of silver is $27.65 per ounce. So, this price seems roughly in the ballpark. But, if we take $35, which is nearer today’s silver’s price, then the implied price of gasoline is $5.06, which is steep. At any price less than $5.06, I’d hold on to the dimes and use FRNs. One has to be careful about these things. One also needs a conversion table. This could be sold as an application on a handheld device. I’m giving away a profitable idea here. The device could read in the spot price of silver from a web site. The user punches in the FRN price. Then the equivalent amount of silver coin is the output.
Yeah, my father remembers drag racing when gas was 20-cents a gallon. Even a kid with an after school job could afford a full tank of gas every week with those gas guzzlers made by Ford, Chevy, and GM.
I have a collection of silver coins. When I worked in a casino we'd see them passed around from time to time, I was always sure to buy them as soon as I saw them. I even got quite a few when I worked at McD's. I had one guy pay with walking liberty silver dollars, I bought all of them back from the store. They're worth like $10 each.
