what term is used to describe the value given to a coin because of its metal content
Coin Coins may be in circulation with fiat values lower than the value of their component metals, but they are never initially issued with such value, and the shortfall only arises over time due to inflation, as market values for the metal overtake the fiat declared face value of the coin. Examples are the pre-1965 US dime, quarter, half dollar, and dollar (nominally containing slightly less than a tenth, quarter, half, and full ounce of silver, respectively), US nickel, and pre-1982 US penny. As a result of the increase in the value of copper, the United States greatly reduced the amount of copper in each penny. Since mid-1982, United States pennies are made of 97.5% zinc, with the remaining 2.5% being a coating of copper. Extreme differences between fiat values and metal values of coins cause coins to be hoarded or removed from circulation by illicit smelters in order to realise the value of their metal content. This is an example of Gresham's law. The United States Mint, in an attempt to avoid this, implemented new interim rules on December 14, 2006, subject to public comment for 30 days, which criminalized the melting and export of pennies and nickels.[30] Violators can be fined up to $10,000 and/or imprisoned for up to five years.
Group 12 element Zinc, cadmium and mercury form a large range of alloys. Among the zinc containing ones, brass is an alloy of zinc and copper. Other metals long known to form binary alloys with zinc are aluminium, antimony, bismuth, gold, iron, lead, mercury, silver, tin, magnesium, cobalt, nickel, tellurium and sodium.[19] While neither zinc nor zirconium are ferromagnetic, their alloy ZrZn 2 exhibits ferromagnetism below 35Â K.[9] Cadmium is used in many kinds of solder and bearing alloys, due to a low coefficient of friction and fatigue resistance.[20] It is also found in some of the lowest-melting alloys, such as Wood's metal.[21] Because it is a liquid, mercury dissolves other metals and the alloys that are formed are called amalgams. For example, such amalgams are known with gold, zinc, sodium, and many other metals. Because iron is an exception, iron flasks have been traditionally used to trade mercury. Other metals that do not form amalgams with mercury include tantalum, tungsten and platinum. Sodium amalgam is a common reducing agent in organic synthesis, and is also used in high-pressure sodium lamps. Mercury readily combines with aluminium to form a mercury-aluminium amalgam when the two pure metals come into contact. Since the amalgam reacts with air to give aluminium oxide, small amounts of mercury corrode aluminium. For this reason, mercury is not allowed aboard an aircraft under most circumstances because of the risk of it forming an amalgam with exposed aluminium parts in the aircraft.[22]