The Logic of Pre-1965 Silver Coin Pricing in Inflationary Times
We are living in an age of inflation. The recent wave of inflation in the United States will surely continue and may very likely become more severe than what we witnessed in the late 1970s and early 1980s. Double-digit and even triple-digit consumer price inflation may be in our near future. Life in a country where 20% or more of the purchasing power of the principal currency unit erodes annually is not pleasant. When this happens, inflation inevitably breeds even more inflation. Producers, wholesalers, and retailers all get in the habit of regularly jacking up their prices, in anticipation of …