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How do I find the value of fractional currency from 1876?

Do you mean the face value, or the value to a collector?

2006-04-27 18:55:26 by Byrd Lady | Posted in History

Why did they stop making fractional currency?

Why was it only made during the civil war and then why was it stop, why didnt they just continue with it instead of coins

2007-05-13 11:27:36 by Andreu | Posted in Other - Business & Finance

Gold Standard vs fiat currency?

Many people claim the gold standard is better than the current fiat currency and fractional reserve banking system used in most developed countries, since it would limit the government's ability to print money. However the gold standard failed to meet the demands of the expanding world's economy in the early 20th century.

How do the supporters of the return to Gold Standard offer to solve the main problem in the need for the economy to expand while the whole amount of gold and it's price are set to a relatively fixed amount?

Very good question.

Even with continued mining a gold standard would see currency become scarce compared to goods. So we'd see a deflationary pressure. It'd be harder to come by a dollar but our dollars would be able to purchase more.

It's far easier to convince someone of a pay raise than convince them of a pay decrease so we'd probably see layoffs as well. In other words companies would have to sell their products for less. To cut costs they'd likely introduce layoffs. Rising unemployment has historically accompanied periods of deflation.

On the other hand a fiat currency runs the risk of central bankers printing too much money and causing large inflation. With the way the Fed's been pumping out dollars recently I don't see how we can avoid double-digit inflation sometime in the next year or two.

I personally would like to see a fiat system where the only priority of a central bank is to keep the monetary supply proportionate to GDP and keep prices relatively stable. In the US the Fed's priorities are sometimes conflicting. If price stabilization was the only priority it'd be a lot easier to plan one's life or plan one's business.

I didn't answer your question exactly. But it got me thinking. :)

2008-11-15 15:33:25 by MikeW | Posted in Other - Business & Finance

How much is a 50 cent bill from 1801 worth?

United states fractional currency from 1801..

The United States did not issue fractional currency until 1862.

It is possible a bank or local goernment may have issued fractional currency in 1801, but I do not have any information on such currency.

2008-07-27 15:30:37 by Muslim Arab Beauty | Posted in Investing

Fractional-reserve banking depends on the assumption that?

a. not all depositors will withdraw their deposits at the same time.
b. most banks will have assets that outweigh liabilities.
c. banks generally make more sound investments than poor investments.
d. at least a portion of our currency, though not all, is backed by gold.
e. the FDIC insures all banks loans up to $100,000

Answer is A.

It is called fractional-reserve banking because they can lend out a fraction of the deposits made by their clients, thus having only a fraction of their clients' money in their vaults. So it is virtually insolvent from the get go. Because if people started demanding their money at the same time, these fractional banks will not be able to answer their obligations to their clients as they don't have all the money in their vaults.

I also agree with trevor h.

2008-11-11 14:43:25 by desperado | Posted in Economics

How many countries do NOT have a central bank?

How many countries do not have a central bank that issues currency through a fiat system, or that utilises fractional reserves?

And, which countries are they? (what are their names?)

I believe as an Accountant that each government must have a central reserve or treasury where all its taxes, grants and donations are administered. The central bank plays the biggest role in setting up and improving an economy of any country since all fiscal and monetary policies originate from central banks. Unless a country is at war like Somalia then it must have a central bank.

2007-03-09 01:26:04 by kenhallonthenet | Posted in Economics

Name the currency of a nation?

that does NOT have a fractional monetary unit (i.e. unlike 100 cents for a dollar, 100 pence for a pound etc.)

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The Japanese Yen?

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2006-06-16 22:51:03 by Maverick | Posted in Trivia