In 1729, Thomas Prior was wrestling with a rather awkward problem: Ireland had gold coins, but people were struggling to find the change. Portuguese gold pieces known as moidores circulated at valuations which, he argued, had encouraged silver and other coins to leave the country. Having something valuable in your pocket was useful, although rather […]
In August 1942, Colonel Kenneth Nichols went to the US Treasury to ask if he could borrow 6,000 tons of silver. There was a war on, copper was scarce, and the Manhattan Project needed enormous electrical conductors for the equipment being built at Oak Ridge, Tennessee. Silver would do the job, provided he could get […]
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