1-rupee composed of gold or perhaps even of uranium!
Returning to reality, yes, the copper 1-rupee is really worth more for its intrinsic rather than for its face value. The actual percent of copper in the coin was not available at the time this article was being written, but according to an article recently written by Tim Worstall for Forbes magazine, it appears the coin is an alloy 75 percent of which is copper. Considering that the coin has a weight of four grams this would suggest each coin contains three grams of copper. If copper is valued at $8,800 per ton (which has been an average price recently) this means one gram of copper is worth 0.88 cents. The coin then has an intrinsic value of $2.64, far beyond its purchasing power or exchange value of about 2cents.
Pakistan Coin Exceeds Face Value
Returning to reality, yes, the copper 1-rupee is really worth more for its intrinsic rather than for its face value. The actual percent of copper in the coin was not available at the time this article was being written, but according to an article recently written by Tim Worstall for Forbes magazine, it appears the coin is an alloy 75 percent of which is copper. Considering that the coin has a weight of four grams this would suggest each coin contains three grams of copper. If copper is valued at $8,800 per ton (which has been an average price recently) this means one gram of copper is worth 0.88 cents. The coin then has an intrinsic value of $2.64, far beyond its purchasing power or exchange value of about 2cents.
Pakistan Coin Exceeds Face Value
