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>> Although... the coins aren't pure copper, are they?
>
> No, they are in fact mild steel, or at least some kind of ferrous alloy.
> Hold a magnet to a newish copper coin. I say copper because they're
> actually copper plated. They started doing this (in the UK), about 8 years
> ago I think.
Aha! So we just need to collect the old ones. I propose using a magnet to
sort them.
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scott wrote:
> When I bought some pounds the other week with my euros, they were
> charging me something ridiculous like 1.2572448282 Euros for a pound. I
> guess if I was converting billions it would make a difference.
Yeah, they do that, don't they?
I often wondered... If you were to convert GBP to DNF to USD to CHF to
EUR back to GBP... or something similar... could you end up with
(significantly) more than you started with? I mean, is there some
obscure sequence of currency exchanges where you end up with more than
you stared with?
--
http://blog.orphi.me.uk/
http://www.zazzle.com/MathematicalOrchid*
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> I often wondered... If you were to convert GBP to DNF to USD to CHF to EUR
> back to GBP... or something similar... could you end up with
> (significantly) more than you started with? I mean, is there some obscure
> sequence of currency exchanges where you end up with more than you stared
> with?
Dunno, write a Haskell program to parse some currency website and find out!
I suspect that any slight advantage you can get would be totally wiped out
by the fees involved.
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Invisible wrote:
> I often wondered... If you were to convert GBP to DNF to USD to CHF to
> EUR back to GBP... or something similar... could you end up with
> (significantly) more than you started with? I mean, is there some
> obscure sequence of currency exchanges where you end up with more than
> you stared with?
>
Yup, sure is. Lots of traders doing it in banks all over the City.
However, more money can be made from Futures and spread betting.
John
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>> I often wondered... If you were to convert GBP to DNF to USD to CHF to
>> EUR back to GBP... or something similar... could you end up with
>> (significantly) more than you started with? I mean, is there some
>> obscure sequence of currency exchanges where you end up with more than
>> you stared with?
>
> Dunno, write a Haskell program to parse some currency website and find out!
Heh. Don't tempt me with such things! ;-)
> I suspect that any slight advantage you can get would be totally wiped
> out by the fees involved.
Yeah, the differences would have to be "large" for this to make sense...
--
http://blog.orphi.me.uk/
http://www.zazzle.com/MathematicalOrchid*
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Doctor John wrote:
> Yup, sure is. Lots of traders doing it in banks all over the City.
> However, more money can be made from Futures and spread betting.
>
> John
Forgot to mention arbitrage as well
John
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scott <sco### [at] scott com> wrote:
> Did you know, that if you had a ton of old 2 pence pieces (worth 2800
> pounds), you could melt them down and sell the ton of copper for the going
> price of 4300 pounds.
Do you have any reference for this?
Some info about the equivalent situation in the US:
http://www.snopes.com/business/money/pennycost.asp
--
- Warp
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>> Did you know, that if you had a ton of old 2 pence pieces (worth 2800
>> pounds), you could melt them down and sell the ton of copper for the
>> going
>> price of 4300 pounds.
>
> Do you have any reference for this?
I googled the weight of a 2p coin, then googled the current copper prices,
and did the sums. But as already pointed out, recent coins in the UK are
actually made from copper plated steel, which I assume is worth considerably
less.
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scott wrote:
> I googled the weight of a 2p coin, then googled the current copper
> prices, and did the sums.
Funny enough, when the patent on fiber optics ran out a few decades ago,
the telcos looked at what they had and realized they could dig up all
the copper, replace it with fiber, and do it all "for free" by selling
the copper on the commodities market.
What they failed to appreciate is that the telcos were the single
largest consumer of copper, so when they stopped buying and started
selling, the price of copper went way down.
--
Darren New / San Diego, CA, USA (PST)
Helpful housekeeping hints:
Check your feather pillows for holes
before putting them in the washing machine.
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"Warp" <war### [at] tagpovrayorg> wrote in message
news:48737d11@news.povray.org...
> Some info about the equivalent situation in the US:
> http://www.snopes.com/business/money/pennycost.asp
Fine up until the last part, but they engage in some utterly nonsensical
economics of value and cost when they start "dividing" cost by the number of
exchanges.
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