Talk:Coin
Is it true that coins are generally back by a country's reserves? That is are most countries still on a gold or silver standard? --rmhermen
I removed:
- Usually, the value of such coins is guaranteed by being backed by that government's reserves.
I would be very surprized if this were true. As far as I know, nearly all coins in the world today are unbacked (or minimally-backed) fiat currencies like the US dollar. --LDC
Are these true?
1. Almost all modern coins have the denomination written in digits rather than in words. (United States coins have only words for the denomination; there exist other exceptions.)
2. In non-Islamic countries, modern coins almost without exception have a portrait on one face. (presumably because a portrait on a coin would be a graven image)
- No. For example, many of the country with the new Euro coins have no portraits on them, notably the countries without a monarch. Most countries (also outside the EU) do not coin money with living/present presidents on them (dictatorships being the exception, probably). Only monarchs are usually depicted, and not many countries still have one.