Question

Suppose you have a $1 silver eagle United States coin. This coin is made up of 1 ounce of 99.99% pure silver. (The other .01% is zinc to strengthen the coin)



2. Does this coin have intrinsic value?

Answer 1

Yes, this coin has intrinsic value because it is made up of a valuable metal, silver, which has its own inherent worth regardless of any external factors such as supply and demand or government backing.