Mises Daily
Author:
Clifford F. Thies
Online Publish Date:
At my supermarket, there’s a machine that says “convert your coins into money,” for which service it charges “only” 3 percent. Aren’t coins already money? And, why should it cost money to convert one form of money into another form? As to whether coins are or are not money, perhaps it depends on their legal tender status. That is, how many coins