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Cake day: June 14th, 2023

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  • Not worthless. The coinage had intrinsic value, being made of metals with a commodity value. So it’s not like holding a paper banknote when a government collapses. People would still have used them to hoard savings, for trade and melted down as a source of precious metals.

    That was really the only value they ever had. Boosted a bit by confidence in the purity (but also reduced when Rome debased its coinage).