The Copper Standard

The Gold Standard ended in 1972 with the demise of the Bretton Woods agreement. Now perhaps, totally unplanned, a new standard is evolving. The WSJ reported yesterday that the value of the copper and zinc in a penny is worth 1.12 cents and the value of the copper and nickel in a nickel is worth 6.99 cents. Rules are now being put in place to limit the export of these coins and to prohibit melting them. So finally my tennis ball cans and pickle jars of small change have some value.